Fabrinet (FN) shares are experiencing a significant climb following the company’s announcement of its fourth-quarter financial results, released after the market closed on Monday. The report showcased a strong performance, exceeding analyst expectations and indicating positive momentum for the company.
Fabrinet reported earnings of $2.41 per share for the quarter, surpassing the analyst consensus estimate of $2.24 by a notable 7.59%. Revenue for the quarter reached $753.261 million, surpassing analyst expectations and representing a substantial 14.85% increase from the same period last year.
Seamus Grady, CEO of Fabrinet, expressed optimism about the company’s future prospects, stating, “Our strong fourth-quarter results capped a remarkable fiscal year, representing our fourth quarter in a row of record revenue, and record earnings per share, both of which were above our guidance ranges. We remain optimistic about our future, with numerous drivers that position us to extend our track record of success into fiscal year 2025.”
Looking ahead, Fabrinet anticipates first-quarter revenue to fall within the range of $760 million to $780 million, and earnings to be between $2.33 to $2.40 per share. These projections suggest continued growth and profitability for the company.
As of the time of publication on Monday, Fortinet shares (FN) were up by a significant 9.12% in after-hours trading, reaching $252.67. This surge in share price reflects investor confidence in Fabrinet’s strong performance and positive future outlook.
