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Why Sanmina Stock Plummeted by Almost 22% Today

TheMotleyFool 
0 0 28.01.26
Why Sanmina Stock Plummeted by Almost 22% Today: https://g.foolcdn.com/editorial/images/853316/person-seated-at-a-desk-with-two-pc-monitors-holding-head-in-hands.jpg
 

An estimates-beating quarterly earnings report wasn't enough to push (NASDAQ: SANM) stock into positive territory on Tuesday. In fact, investors reacted very negatively to the company's results, mainly due to weak guidance, as they traded out of its stock, leaving it with a nearly 22% loss on the day.

Sanmina's first quarter of fiscal 2026 saw the company earn just under $3.19 billion in net sales, up from slightly more than $2 billion in the year-ago period. Net income not in accordance with generally accepted accounting practices (GAAP) also saw a hefty rise, coming in at over $132 million ($2.38 per share); this bettered the $91 million in the first quarter of 2025.

Image source: Getty Images.

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Source Fool.com

Sanmina Corporation Stock

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