Looking back on electrical systems stocks’ Q1 earnings, we examine this quarter’s best and worst performers, including Sanmina (NASDAQ: SANM) and its peers.
Like many equipment and component manufacturers, electrical systems companies are buoyed by secular trends such as connectivity and industrial automation. More specific pockets of strong demand include Internet of Things (IoT) connectivity and the 5G telecom upgrade cycle, which can benefit companies whose cables and conduits fit those needs. But like the broader industrials sector, these companies are also at the whim of economic cycles. Interest rates, for example, can greatly impact projects that drive demand for these products.
The 14 electrical systems stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 4.7% while next quarter’s revenue guidance was 3.3% below.
In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.
Sanmina (NASDAQ: SANM)
Founded in 1980, Sanmina (NASDAQ: SANM) is an electronics manufacturing services company offering end-to-end solutions for various industries.
Sanmina reported revenues of $4.01 billion, up 102% year on year. This print exceeded analysts’ expectations by 22.8%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS and adjusted operating income estimates.
"We delivered great results for the second quarter. Revenue, non-GAAP operating margin and non-GAAP diluted EPS all exceeded our outlook," stated Jure Sola, Chairman and CEO of Sanmina Corporation.
Sanmina pulled off the fastest revenue growth but had the weakest guidance update of the whole group. Unsurprisingly, the stock is up 9.3% since reporting and currently trades at $205.49.
Best Q1: Garrett Motion (NASDAQ: GTX)
A key player in the transition to cleaner vehicles, Garrett Motion (NYSE: GTX) designs and manufactures turbochargers, air compressors, and electric motor technologies for vehicle manufacturers and industrial applications.
Garrett Motion reported revenues of $985 million, up 12.2% year on year, outperforming analysts’ expectations by 9.3%. The business had a stunning quarter with an impressive beat of analysts’ EBITDA estimates.
The market seems happy with the results as the stock is up 57.4% since reporting. It currently trades at $32.26.
Is now the time to buy Garrett Motion? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Whirlpool (NYSE: WHR)
Credited with introducing the first automatic washing machine, Whirlpool (NYSE: WHR) is a manufacturer of a variety of home appliances.
Whirlpool reported revenues of $3.27 billion, down 9.6% year on year, falling short of analysts’ expectations by 4.4%. It was a disappointing quarter as it posted full-year EPS guidance missing analysts’ expectations and a significant miss of analysts’ adjusted operating income estimates.
Whirlpool delivered the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update in the group. As expected, the stock is down 32.2% since the results and currently trades at $37.12.
Read our full analysis of Whirlpool’s results here.
Atkore (NYSE: ATKR)
Protecting the things that power our world, Atkore (NYSE: ATKR) designs and manufactures electrical safety products.
Atkore reported revenues of $731.4 million, up 4.2% year on year. This print surpassed analysts’ expectations by 2.4%. Overall, it was a very strong quarter as it also put up an impressive beat of analysts’ EBITDA and EPS estimates.
The stock is down 6% since reporting and currently trades at $69.24.
Read our full, actionable report on Atkore here, it’s free.
Vertiv (NYSE: VRT)
Formerly part of Emerson Electric, Vertiv (NYSE: VRT) manufactures and services infrastructure technology products for data centers and communication networks.
Vertiv reported revenues of $2.65 billion, up 30.1% year on year. This result was in line with analysts’ expectations. It was a strong quarter as it also logged a solid beat of analysts’ adjusted operating income estimates and full-year EPS guidance exceeding analysts’ expectations.
Vertiv pulled off the highest guidance raise among its peers. The stock is down 3.2% since reporting and currently trades at $302.44.
Read our full, actionable report on Vertiv here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
