If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Fabrinet (FN) . This company, which is in the Zacks Electronics - Miscellaneous Components industry, shows potential for another earnings beat. This company that assembles optical, electro-mechanical and electronic devices for other companies has seen a nice streak of beating earnings estimates, especially when looking at the ...

For the first quarter of 2024, Eli Lilly reported a remarkable 26% increase in revenue, primarily driven by the successful launch of new products like Mounjaro and Zepbound. Wall Street has been impressed with the pharma company's ability to innovate and effectively bring new products to market. Meanwhile, its gross margin also saw an impressive rise from 78.4% in the first quarter of 2023 to 82.5% in the first quarter of this year. Eli Lilly benefited from higher prices and an improved product mix, undersc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 29, 2024 OR ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from__________to__________ Commission File Number: 001-34775 FABRINET Ordinary Shares, $0.01 par value FN New York S ...

Reconciliation of GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Profit and Non-GAAP Gross Margin (in thousands of U.S. dollars) 15 fabrinet Disclaimer You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achie ...

Financial Data and Key Metrics Changes - The company reported record revenue of $731.5 million, up 10% year-over-year and up 3% sequentially, exceeding guidance ranges [25][29] - Non-GAAP net income reached a record of $87.7 million or $2.39 per diluted share, also above guidance [54][57] - Operating income was $78 million, with an operating margin of 10.7%, consistent with the previous quarter [15][25] Business Line Data and Key Metrics Changes - Optical communications revenue was $591.4 million, accounting for 81% of total revenue, an increase of 18% year-over-year and 4% sequentially [11] - Datacom revenue was $305.5 million, representing 52% of optical communications revenue, growing 150% year-over-year and 6% sequentially, driven by high data rate products for AI applications [31] - Telecom revenue was $286 million, down 25% year-over-year but up 2% sequentially, primarily due to data center interconnect growth [12][26] - Non-optical communications revenue was $140.1 million, down 3% from the previous quarter, mainly due to inventory absorption in automotive products [13] Market Data and Key Metrics Changes - The company anticipates datacom revenue to slightly increase sequentially in the fourth quarter, driven by high data rate products for AI [56] - Telecom revenue is expected to decline sequentially in the fourth quarter due to ongoing inventory absorption [37][59] Company Strategy and Development Direction - The company is optimistic about its position in the datacom market, particularly with the demand for 800 gig technology for AI applications [6][8] - The transition to higher data rate products is seen as a key growth driver, with expectations that 1.6 terabit products will complement rather than cannibalize 800 gig products [42][62] - The company is evaluating capacity expansion options, with potential plans for a new building to support future demand [72][73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong results in the fourth quarter, anticipating another record year for revenue and profitability [57] - The telecom sector is expected to face challenges for several quarters due to inventory digestion, with growth not anticipated until early to mid-2025 [59] - The company remains well-positioned to capitalize on demand for optical interconnects in AI data centers, with a strong execution track record [51][64] Other Important Information - The company repurchased approximately 153,000 shares at an average price of $193.76 per share, totaling $29.6 million, with $64.1 million remaining in the share repurchase authorization [17] - Cash and short-term investments were $794 million at the end of the third quarter, up $53.4 million from the previous quarter, driven by strong operating cash flow [36] Q&A Session Summary Question: Follow-up on datacom revenue growth - Management noted that datacom revenue growth was strong despite the rolling off of the 100 gig business, with underlying growth remaining robust [21][61] Question: Discussion on customer design wins for 800 gig and 1.6T - Management confirmed that 800 gig demand remains strong and that they are preparing for the next generation 1.6 terabit products, which are expected to be additive to existing products [44][45] Question: Outlook on telecom revenues and inventory digestion - Management indicated that telecom revenue softness is expected to continue for several quarters, with a return to growth not anticipated until early to mid-2025 [58][59] Question: Capacity planning and expansion - Management discussed ongoing evaluations for capacity expansion, with potential plans for a new building to support increased demand, estimating an 18-month timeline from decision to operational readiness [71][73]

Fabrinet (FN) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.12 per share. This compares to earnings of $1.94 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.74%. A quarter ago, it was expected that this company that assembles optical, electro-mechanical and electronic devices for other companies would post earnings of $2.04 per share when it actually produced earnings of $2. ...

Exhibit 99.1 Fabrinet Announces Third Quarter Fiscal Year 2024 Financial Results • Exceeds Guidance Ranges with Record Revenue and Net Income Per Share Guidance for non-GAAP net income per diluted share excludes share-based compensation expenses and certain non-recurring items. A reconciliation of non-GAAP net income per diluted share to the corresponding GAAP measure is available at the end of this press release. Conference Call Information | What: | Fabrinet Third Quarter Fiscal Year 2024 Financial Result ...

5G stocks have an increasingly bad rap, as initial trends (reminiscent of blockchain enthusiasm, then artificial intelligence exuberance) pointed to every 5G company as a millionaire-maker. But, just as we saw with blockchain and are starting to see with AI, only a handful of companies are truly innovative and worth buying for the long-term: the rest are riding the tailcoats of others’ initiatives. But, now that the dust has settled over the wider industry, those top 5G stocks are coming to the surface — at ...

Fabrinet (NYSE:FN) stock is down on Wednesday after announcing the date for its next earnings report.Fabrinet announced that it will release earnings for its fiscal third quarter of 2024 on May 6. This will cover earnings for the quarter that ended on March 29, 2024.Fabrinet will release its earnings after markets closed that day. The company will also hold a conference call at 4:30 p.m. Eastern Time to go over the results. A webcast will also be available on its website afterward.What That Means for FN Sto ...

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