Fabrinet (FN) Tops Q2 EPS by 6c, Revenues Beat; Offers 3Q EPS Guidance Above Consensus
- Wall Street rebounds after two-day decline; Netflix slides
- Netflix (NFLX) Plunges Following Q1 Sub Miss, But One Analyst Sees Chance to Turn Bullish
- Oil prices drop on U.S. crude build, COVID-19 surge in India
- Intuitive Surgical (ISRG) Q1 Beat Prompts Two Street Upgrades
- U.S. dollar losses bounce after Canada tips toward higher rates
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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.”
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Equifax (EFX) Tops Q1 EPS by 11c, Revenues Beat; Raises FY21 EPS/Revenue Guidance Above Consensus, Offers 2Q EPS/Revenue Views Above Consensus
- RLI Corp. (RLI) Tops Q1 EPS by 22c, Revenues Beat
- Xcel Brands (XELB) Reports Q4 Loss of $0.02, Revenues Miss
Create E-mail Alert Related CategoriesCorporate News, Earnings, Guidance, Hot Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!