Sanmina Corporation (NASDAQ:SANM) Q1 2023 Earnings Call Transcript

Jure Sola: Well, Anja, let me put it this way, we had a great start to a year. So, I think, first quarter speaks for itself. I believe our guidance for the second quarter are very solid. So, we’ll take one quarter at a time, Anja. As we operate in this macro environment, we’re very positive about the year based on our customer forecast. But at the same time, we read papers. Inflation is up, it’s going up and still up, my opinion. I think Sanmina is positioned to weather no matter what happens. And we’re very positive on what’s in front of us, especially with the new programs that are coming up. As Kurt mentioned, we’re spending a little bit more money on expansion. And the reason we’re doing that is all driven by the new programs in our high-technology product mission-critical customers. So, we are — we believe in a better future.

Anja Soderstrom: Okay. Thank you. And can you just talk a little bit about the end markets that you participate in? And you’re talking about new programs. Can you just tell us a little bit about those programs and what excites you about them?

Jure Sola: Well, as we talked in our last quarter, we continue to drive in these mission-critical programs, such as industrial, medical. In industrial, we’re well-established there. I think, our alternative energy market is going to be expanding there substantially. I think on automotive, same thing. On EV vehicle, we are well positioned there. When Jim asked the question regarding communication network, cloud — and cloud infrastructure, we are also well positioned there, and of course, medical and defense. So, a lot of the new programs are really across all our markets.

Anja Soderstrom: Okay. Thank you. And have you seen any changes to the competitive landscape at all recently?

Jure Sola: Competition is always there, but I’m more worried about ourselves than competition. I always believe it’s what we do. We are focused to really build a strong partnership with our customer. We’re focused on mission-critical products, heavy regulated markets that require a lot of technology, and that’s what we’re spending energy in.

Anja Soderstrom: Okay. Thank you. That was all from me.

Jure Sola: Anja, that’s — thank you very much. Operator? That’s all for today. We appreciate everybody’s input. And if there’s any more questions, please let us know. Thanks a lot.

Operator:

Jure Sola: Go ahead.

Operator: Please, go away — go ahead.

Jure Sola: Yes. Thanks for — we’d like to thank everybody for joining this call. Again, if there’s any more questions, please let us know, we’re available for next 90 days.

Paige Melching: Thank you.

Kurt Adzema: Thank you.

Jure Sola: Bye-bye.

Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.