Fabrinet Shares Climb On Better-Than-Expected Q4 Results, Strong Q1 Guidance
Portfolio Pulse from Erica Kollmann
Fabrinet (NYSE:FN) shares surged after reporting better-than-expected Q4 earnings and providing strong Q1 guidance. The company reported Q4 earnings of $2.41 per share, surpassing the consensus estimate of $2.24, and sales of $753.261 million, a 14.85% increase from last year. Fabrinet expects Q1 revenue between $760 million and $780 million, with earnings per share between $2.33 and $2.40. Shares rose 9.12% in after-hours trading.
August 19, 2024 | 8:40 pm
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Fabrinet reported Q4 earnings of $2.41 per share, beating estimates, with sales up 14.85% YoY. The company provided strong Q1 guidance, leading to a 9.12% increase in after-hours trading.
Fabrinet's better-than-expected Q4 earnings and strong Q1 guidance indicate robust financial health and growth prospects, leading to a positive market reaction with a 9.12% increase in share price.
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