Overview
Optical packaging provider's fiscal Q2 revenue rose, beating analyst expectations
Adjusted EPS for fiscal Q2 beat analyst expectations
Company expects strong Q3 revenue and EPS, reflecting continued business drivers
Outlook
Fabrinet expects third quarter revenue between $1.15 bln and $1.20 bln
Company anticipates GAAP EPS of $3.22 to $3.37 for third quarter
Fabrinet forecasts non-GAAP EPS of $3.45 to $3.60 for third quarter
Result Drivers
STRATEGIC PROGRAMS - Multiple large strategic programs contributed to record revenue and earnings
OPERATING LEVERAGE - Strong operating leverage led to record earnings per share, exceeding guidance
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.13 bln | $1.08 bln (8 Analysts) |
Q2 Adjusted EPS | Beat | $3.36 | $3.25 (8 Analysts) |
Q2 EPS | $3.11 | ||
Q2 Adjusted Net Income | Beat | $121.60 mln | $117.59 mln (6 Analysts) |
Q2 Net Income | $112.60 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Fabrinet is $545.00, about 11.4% above its January 30 closing price of $489.44
The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 34 three months ago
Press Release: ID:nGNX5txhGg
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)