FX.co ★ Fabrinet Q2 Profit Increases, Beats Estimates

Fabrinet (FN) has announced its second-quarter financial results, reporting a notable improvement in profit compared to the same period last year, surpassing analysts' expectations.

The company's net income for the quarter reached $86.64 million, or $2.38 per share, up from $69.11 million or $1.89 per share previously. On an adjusted basis, excluding specific items, Fabrinet achieved earnings of $95.14 million or $2.61 per share.

Market analysts had anticipated an earnings figure of $2.49 per share, noting that their projections typically do not account for special items.

Revenue for the quarter experienced a substantial growth of 17.0%, reaching $833.61 million, compared to $712.69 million during the same period last year.

A summary of Fabrinet’s earnings according to GAAP standards is as follows:

- Earnings: $86.64 million, up from $69.11 million.

- Earnings per share (EPS): $2.38, compared to $1.89 last year.

- Revenue: $833.61 million, compared to last year's $712.69 million.

Looking ahead, Fabrinet has issued full-year EPS guidance, projecting figures between $2.55 and $2.63.