Fabrinet Q2 FY24 Revenue Hits $654.4M, Beats Guidance

TL;DR

**Fabrinet crushed Q2 revenue, hitting $654.4M and beating expectations.**

AI Summary

Fabrinet, a manufacturing company, filed an 8-K on February 5, 2024, to announce its financial results for the second quarter of fiscal year 2024, which ended December 29, 2023. The company reported revenue of $654.4 million, exceeding its guidance range of $620 million to $640 million. This strong performance, particularly the revenue beat, indicates robust demand for Fabrinet's optical communication and industrial laser products, which could positively impact investor confidence and stock valuation.

Why It Matters

This filing matters because Fabrinet's better-than-expected revenue of $654.4 million for Q2 FY2024 signals strong operational performance and demand, which can lead to increased investor confidence and potentially a higher stock price.

Risk Assessment

Risk Level: low — The filing reports positive financial results, indicating lower immediate risk for investors based on the disclosed information.

Analyst Insight

A smart investor would review Fabrinet's full Q2 FY2024 earnings report for further details on profitability and future guidance, as the revenue beat suggests strong underlying business momentum.

Key Numbers

• $654.4 million — Q2 FY2024 Revenue (Exceeded guidance range of $620 million to $640 million.)
• $620 million — Low end of Q2 FY2024 Revenue Guidance (Fabrinet's actual revenue significantly surpassed this.)
• $640 million — High end of Q2 FY2024 Revenue Guidance (Fabrinet's actual revenue surpassed this.)

Key Players & Entities

• Fabrinet (company) — registrant
• $654.4 million (dollar_amount) — Q2 FY2024 revenue
• $620 million to $640 million (dollar_amount) — previous revenue guidance
• February 5, 2024 (date) — date of report
• December 29, 2023 (date) — end of Q2 FY2024

Forward-Looking Statements

• Fabrinet's stock price (FN) will see a positive reaction due to the revenue beat. (Fabrinet (FN)) — medium confidence, target: within 1 week
• Analysts will revise their earnings estimates upwards for Fabrinet based on this strong performance. (Fabrinet (FN)) — medium confidence, target: within 2 weeks

FAQ

Key Financial Figures

• $0.01 — e on which registered Ordinary Shares, $0.01 par value FN New York Stock Exchange

Filing Documents

• fn-20240205.htm (8-K) — 25KB
• fn-20240205xex991q224.htm (EX-99.1) — 252KB
• 0001408710-24-000007.txt ( ) — 420KB
• fn-20240205.xsd (EX-101.SCH) — 2KB
• fn-20240205_lab.xml (EX-101.LAB) — 24KB
• fn-20240205_pre.xml (EX-101.PRE) — 13KB
• fn-20240205_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On February 5, 2024, Fabrinet issued a press release regarding its financial results for its fiscal quarter ended December 29, 2023. A copy of the press release is furnished as Exhibit 99.1 to this report. The information in this Item 2.02 and the press release attached hereto as Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release dated February 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FABRINET By: /s/ CSABA SVERHA Csaba Sverha Executive Vice President, Chief Financial Officer Date: February 5, 2024

View Full Filing

View this 8-K filing on SEC EDGAR