Fabrinet Stock Craters Despite Record Q2 Revenue, EPS

Fabrinet (NYSE:FN) shares dropped in Monday's extended trading after the company released its second-quarter earnings report.

Here's a look at the key figures from the quarter. 

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The Details: Fabrinet reported quarterly earnings of $3.36 per share, which beat the consensus estimate of $3.25.

Quarterly revenue came in at $1.13 billion, which beat the Street consensus of $1.08 billion and was up from $833.61 million in the same period last year.

“We delivered an exceptional second quarter with record revenue and earnings that significantly exceeded our guidance ranges,” CEO Seamus Grady said.

“Multiple large, key strategic programs across our business all contributed to our outstanding performance. At the same time, excellent execution and strong operating leverage generated record earnings per share that were also above our guidance range,” Grady added.  

Outlook: Fabrinet expects third quarter adjusted EPS of $3.45 to $3.60, versus the $3.43 analyst estimate, and revenue of $1.15 billion to $1.20 billion vs $1.13 billion analyst estimate.

FN Stock Price: According to data from Benzinga Pro, Fabrinet stock fell 10.73% to $446 in Monday's extended trading.  

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