Fabrinet Shares Surge 13% on Q4 Beat & Better Than Expected Guidance
2022.08.16 01:05
Fabrinet Shares Surge 13% on Q4 Beat & Better Than Expected Guidance
By Davit Kirakosyan
Investing.com – Fabrinet (NYSE:FN) shares soared nearly 13% after-hours following the company’s reported Q4 results, with EPS of $1.68 coming in better than the consensus estimate of $1.54. Revenue was $587.9 million, beating the consensus estimate of $581.48 million.
“With strong ongoing demand trends, we are optimistic that we can continue to execute well and extend our track record of success in fiscal 2023 and beyond,” said Seamus Grady, CEO of Fabrinet.
The company provided upside Q1/23 guidance, expecting EPS in the range of $1.72-$1.79, compared to the consensus of $1.56, and revenue in the range of $620-640 million, compared to the consensus of $596 million.
The company also announced that its Board of Directors has approved an additional $78.8 million share repurchase of the company’s ordinary shares.
