Optical packaging provider Fabrinet's Q2 revenue beats estimates

Reuters02-03 05:24
Optical packaging provider <a href="https://laohu8.com/S/FN">Fabrinet</a>'s <a href="https://laohu8.com/S/QTWO">Q2</a> revenue beats estimates

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.)

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