Fabrinet (NYSE:FN) posted its first-quarter fiscal 2027 results after Monday’s closing bell, beating estimates on the top and bottom lines and sending shares higher.
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Fabrinet Q1 Details
Fabrinet reported quarterly earnings of $4.34 per share, which beat the Street estimate of $4.19, per Benzinga Pro data.
Quarterly revenue of $1.47 billion beat the consensus estimate of $1.403 billion by 5.11 percent. This is a 50.74 percent increase over sales of $978.128 million the same period last year.
Fabrinet also announced that its board approved an expansion of its share repurchase program, authorizing the repurchase of up to an additional $103 million of Fabrinet’s ordinary shares, bringing the aggregate authorization under Fabrinet’s existing share repurchase program to $637.3 million.
“Fiscal year 2027 is off to an excellent start with record revenue and non-GAAP earnings per share that were well above our guidance ranges. Broad-based demand across multiple significant programs drove these results, with new product ramps further supporting our growth,” said CEO Seamus Grady.
“We enter the second quarter with exceptional momentum that makes us confident that we can deliver another strong performance,” he added.
Looking Ahead
Fabrinet expects second-quarter adjusted EPS of $4.77-$4.92, versus the $4.41 analyst estimate, and revenue in a range of $1.6 billion to $1.65 billion, versus the $1.48 billion estimate.
FN Stock Price: According to data from Benzinga Pro, Fabrinet stock was up 12.82% to $355.03 in Monday’s extended trading.
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