Sanmina's stock surged 17.61% intraday on Tuesday, marking a significant upward movement for the electronics manufacturing services provider.

The dramatic price increase was driven by the company's impressive fiscal second-quarter results, which soundly beat analyst expectations. Sanmina reported adjusted earnings per share of $3.16, significantly exceeding the consensus estimate of $2.40. Revenue more than doubled year-over-year to $4.01 billion, also surpassing the $3.29 billion analyst forecast.

Management attributed the strong performance to ZT Systems revenue that "significantly exceeded expectations," driven by strong execution and customer demand, with accelerated compute shipments previously expected in the second half of the year shifting into the second quarter. Additionally, Sanmina's board authorized a new $600 million share repurchase program. The company also provided optimistic guidance, forecasting third-quarter adjusted EPS between $2.55 and $2.85 (versus $2.53 consensus) and full-year 2026 adjusted EPS of $10.75 to $11.35 (versus $10.02 consensus).