Fabrinet (FN) Tops Q2 EPS by 6c, Revenues Beat; Offers 3Q EPS Guidance Above Consensus

Fabrinet (NYSE: FN) reported Q2 EPS of $1.10, $0.06 better than the analyst estimate of $1.04. Revenue for the quarter came in at $453.8 million versus the consensus estimate of $433.7 million.

Seamus Grady, Chief Executive Officer of Fabrinet, said, “We delivered record revenue and profitability that exceeded our guidance ranges in the second quarter. Newer programs helped drive revenue upside while margin improvement contributed to strong profitability in the quarter.”

Grady continued, “Based on our anticipated growth, we have broken ground on construction for an additional building at our Chonburi campus. As we look ahead, we are optimistic that the third quarter will represent another record-breaking quarter for the company.”

GUIDANCE:

Fabrinet sees Q3 2021 EPS of $1.10-$1.17, versus the consensus of $1.05.

Based on information available as of February 1, 2021, Fabrinet is issuing guidance for its third fiscal quarter ending March 26, 2021, as follows:

• Fabrinet expects third quarter revenue to be in the range of $455 million to $475 million.
• GAAP net income per diluted share is expected to be in the range of $0.94 to $1.01, based on approximately 37.6 million fully diluted shares outstanding.
• Non-GAAP net income per diluted share is expected to be in the range of $1.10 to $1.17, based on approximately 37.6 million fully diluted shares outstanding.

For earnings history and earnings-related data on Fabrinet (FN) click here.

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