$SANM

SANMINA-SCI CORP

CIK:0000897723|SEC Filings

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Net sales	$ 3,464,016	$ 2,041,562	$ 10,666,980	$ 6,031,990
Cost of sales	3,100,711	1,860,512	9,707,522	5,506,790
Gross profit	363,305	181,050	959,458	525,200
Operating expenses:
Selling, general and administrative	109,331	69,542	337,766	216,700
Research and development	8,267	8,078	24,916	22,418
Acquisition, integration and others	21,075	7,080	137,022	7,080
Amortization of intangible assets	1,831	0	4,883	0
Restructuring Charges	1,576	473	3,040	2,899
Total operating expenses	142,080	85,173	507,627	249,097
Operating income	221,225	95,877	451,831	276,103
Interest income	9,800	4,200	26,291	11,319
Interest Expense, Nonoperating	32,464	4,981	89,324	14,961
Other income (expense), net	(6,809)	(3,686)	(4,326)	(6,370)
Interest and other, net	(29,473)	(4,467)	(67,359)	(10,012)
Income before income taxes	191,752	91,410	384,472	266,091
Provision for income taxes	66,444	18,522	109,594	51,804
Net income before noncontrolling interest	125,308	72,888	274,878	214,287
Less: Net income attributable to noncontrolling interest	8,179	4,272	14,817	16,460
Net income attributable to common shareholders	$ 117,129	$ 68,616	$ 260,061	$ 197,827
Net income attributable to common shareholders per share:
Basic	$ 2.17	$ 1.28	$ 4.81	$ 3.66
Diluted	$ 2.12	$ 1.26	$ 4.71	$ 3.58
Weighted-average shares used in computing per share amounts:
Basic	53,861	53,614	54,118	54,074
Diluted	55,133	54,493	55,254	55,285

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES:
Net income before noncontrolling interest	$ 274,878	$ 214,287
Adjustments to reconcile net income before noncontrolling interest to cash provided by (used in) operating activities:
Depreciation and intangibles amortization	134,817	89,813
Stock-based compensation expense	72,502	47,163
Deferred income taxes	54,976	6,990
Amortization of inventory fair value adjustment	49,000	0
Change in fair value of contingent consideration	72,000	0
Gain on sale of investment	(4,710)	0
Other, net	4,846	(5,242)
Changes in operating assets and liabilities:
Accounts receivable	699,074	(43,171)
Contract assets	(96,421)	(27,630)
Inventories	78,971	(144,798)
Prepaid expenses and other assets	(220,260)	2,874
Accounts payable	(11,395)	(27,580)
Deferred revenue and customer advances	(168,185)	309,591
Accrued liabilities and other	(238,116)	(719)
Cash provided by operating activities	701,977	421,578
CASH FLOWS PROVIDED BY (USED IN) INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(244,441)	(84,890)
Cash paid for business acquisition, net of cash acquired	(1,114,152)	0
Payments to Acquire Investments	0	(14,700)
Proceeds from sale of investments	8,710	49,309
Other, net	245	4,718
Cash used in investing activities	(1,349,638)	(45,563)
CASH FLOWS PROVIDED BY (USED IN) FINANCING ACTIVITIES:
Repayments of borrowings	(301,875)	(13,125)
Proceeds from long-term debt	2,200,000	0
Proceeds from revolving credit facility borrowings	94,925	512,700
Repayments of revolving credit facility borrowings	(94,925)	(512,700)
Debt issuance costs	(29,341)	0
Repurchases of common stock	(239,244)	(113,944)
Payments for tax withholding on stock-based compensation	(59,602)	(38,547)
Cash provided by (used in) financing activities	1,569,938	(165,616)
Effect of exchange rate changes	(1,278)	1,461
Increase in cash, cash equivalents, restricted cash and restricted cash equivalents	920,999	211,860
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	966,220	625,860
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,887,219	837,720
Cash paid during the period for:
Interest, net of capitalized interest	72,114	12,678
Income taxes, net of refunds	87,134	67,426
Unpaid purchases of property, plant and equipment at the end of period	65,528	34,805
Issuance of common stock for the acquisition of ZT Systems	$ 155,346	$ 0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2026	Sep. 27, 2025
Current assets:
Cash and cash equivalents	$ 1,844,942	$ 926,267
Accounts and Other Receivables, Net, Current	1,986,682	1,400,129
Contract assets	522,364	425,944
Inventories	3,152,247	1,988,462
Prepaid expenses and other current assets	322,179	124,656
Total current assets	7,828,414	4,865,458
Property, plant and equipment, net	1,051,414	682,354
Deferred income tax assets	320,224	171,218
Goodwill	121,889	30,386
Other assets	417,793	108,757
Total assets	9,739,734	5,858,173
Current liabilities:
Accounts payable	2,452,745	1,578,895
Accrued liabilities	366,525	179,605
Deferred revenue and customer advances	1,149,752	878,474
Accrued payroll and related benefits	212,858	167,541
Short-term debt, including current portion of long-term debt	215,000	17,500
Total current liabilities	4,396,880	2,822,015
Long-term liabilities:
Long-term debt	1,957,310	282,974
Other liabilities	625,919	214,021
Total long-term liabilities	2,583,229	496,995
Commitments and contingencies (Note 8)
Stockholders’ equity	2,759,625	2,539,163
Total liabilities and stockholders’ equity	$ 9,739,734	$ 5,858,173