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Mar 29, 2024
Fabrinet Q3 2024 Earnings Report
Fabrinet exceeded guidance ranges with record revenue and net income per share.
Key Takeaways
Fabrinet reported strong Q3 2024 results, exceeding both revenue and EPS guidance, driven by record datacom revenue and sequential growth in telecom revenue.
Revenue for Q3 2024 was $731.5 million, compared to $665.3 million for Q3 2023.
GAAP net income for Q3 2024 was $80.9 million, compared to $59.4 million for Q3 2023.
GAAP net income per diluted share for Q3 2024 was $2.21, compared to $1.60 for Q3 2023.
Non-GAAP net income per diluted share for Q3 2024 was $2.39, compared to $1.94 for Q3 2023.
Fabrinet
Fabrinet
Forward Guidance
Fabrinet expects Q4 revenue to be in the range of $720 million to $740 million. GAAP net income per diluted share is expected to be in the range of $2.01 to $2.08, and non-GAAP net income per diluted share is expected to be in the range of $2.20 to $2.27.
Positive Outlook
- Expects fourth quarter revenue to be in the range of $720 million to $740 million.
- GAAP net income per diluted share is expected to be in the range of $2.01 to $2.08.
- Based on approximately 36.5 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $2.20 to $2.27.
- Guidance for non-GAAP net income per diluted share excludes share-based compensation expenses and certain non-recurring items.