NYSE$FN

Fabrinet · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Fabrinet's Q4 2020 financial results were announced, with revenue exceeding guidance and record fiscal year revenue and operating cash flow achieved.

Fabrinet announced its Q4 and Fiscal Year 2020 results, exceeding revenue and earnings guidance for the quarter. The company reported Q4 revenue of $405.1 million and GAAP net income of $28.0 million ($0.75 per diluted share). Fabrinet also achieved record fiscal year revenue of $1.64 billion and record operating cash flow of $151 million.

  • Q4 revenue of $405.1 million was consistent with the comparable period in fiscal year 2019 and exceeded guidance.
  • GAAP net income for Q4 was $28.0 million, compared to $33.0 million for the same period last year.
  • Non-GAAP net income for Q4 was $36.0 million, compared to $37.6 million for the same period last year.
  • The company expanded its share repurchase program, resulting in $100 million available for repurchase.

Headline financials

Total Revenue

$405M

Previous: $405M-0.0%
EPS (adj)

$0.96

Previous: $1.00-4.0%
Capital Expenditures

$14.8M

Previous: $5.45M+172.4%
Free Cash Flow

$31.4M

Previous: $36.4M-13.9%
Net Income

$28M

Previous: $33M-15.0%
Operating Income

$28.1M

Previous: $32.1M-12.3%
Gross Profit

$46.6M

Previous: $46.6M-0.0%
Cash & Equivalents

$225M

Previous: $181M+24.7%
Total Assets

$1.38B

Previous: $1.26B+10.0%
Stock-Based Comp

$3.9M

Previous: $3.78M+3.1%

Revenue & EPS history

Fabrinet · Revenue · Quarterly

$405M

Q4 2020-0%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Forward guidance

Fabrinet expects first quarter revenue to be in the range of $410 million to $430 million. GAAP net income per diluted share is expected to be in the range of $0.77 to $0.84, and non-GAAP net income per diluted share is expected to be in the range of $0.93 to $1.00.

Tailwinds

  • Expects first quarter revenue to be in the range of $410 million to $430 million.
  • GAAP net income per diluted share is expected to be in the range of $0.77 to $0.84.
  • Based on approximately 37.7 million fully diluted shares outstanding.
  • Non-GAAP net income per diluted share is expected to be in the range of $0.93 to $1.00.
  • Growth in the first quarter.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

+2.5%

Avg return

Earnings day

+3.8%

Avg return

5 days after

+4.5%

Avg return

30 days after

54%

34 / 63 earnings

Positive

+34.4%

Q1 2013

Best reaction

-18.4%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-5.8%-13.3%-0.3%
Q2 2026-10.3%+0.9%+9.0%
Q1 2026+3.9%+1.4%+6.5%
Q3 2025-7.0%-8.3%+7.4%
Q2 2025-8.2%-6.0%-18.6%
Q1 2025-5.1%+11.8%-0.3%
Q4 2024+16.0%+15.7%-0.9%
Q3 2024+16.8%+24.3%+35.4%
Q2 2024-18.4%-8.5%+0.6%
Q1 2024+5.5%+3.2%+0.0%
Q4 2023+30.4%+33.0%+30.5%
Q3 2023-0.5%-1.3%+20.8%
Q2 2023-8.4%-7.7%-8.8%
Q1 2023+8.6%+12.6%+13.9%
Q4 2022+15.0%+12.8%+2.1%
Q3 2022-4.6%-9.0%-12.1%
Q2 2022-7.1%-8.8%-8.3%
Q1 2022+15.8%+25.4%+19.1%
Q4 2021+6.4%+14.7%+17.9%
Q3 2021-0.8%-0.4%+6.1%
Q2 2021+6.1%+13.1%+10.7%
Q1 2021+6.1%+10.8%+15.5%
Q4 2020-0.5%-5.4%-14.9%
Q3 2020-2.7%+2.9%+11.4%
Q2 2020+7.4%+2.3%-5.8%
Q1 2020-1.5%+0.6%+1.8%
Q4 2019-16.4%-14.4%-2.0%
Q3 2019-3.7%-5.2%-27.9%
Q2 2019-8.6%-9.9%-4.3%
Q1 2019+7.4%+9.9%+12.1%
Q4 2018+7.1%+9.6%+3.7%
Q3 2018+9.4%+9.4%+13.1%
Q2 2018+20.0%+18.1%+29.5%
Q1 2018-10.4%-3.5%-4.6%
Q4 2017-7.8%-3.9%-8.2%
Q3 2017+12.3%+8.3%+17.5%
Q2 2017+1.6%+6.1%-2.7%
Q1 2017+7.6%+8.9%+8.1%
Q4 2016-2.0%-1.5%+1.9%
Q3 2016+12.6%
Q2 2016+12.5%
Q1 2016+9.5%
Q4 2015+6.7%
Q3 2015+1.5%
Q2 2015+3.1%
Q1 2015-3.8%
Q4 2014+9.1%
Q3 2014-13.0%
Q2 2014-8.0%
Q1 2014+13.8%
Q4 2013+4.6%
Q3 2013+1.7%
Q2 2013+10.3%
Q1 2013+34.4%
Q4 2010-0.8%
Q4 2012-2.5%
Q3 2011-6.9%
Q3 2012-8.2%
Q2 2011+1.5%
Q2 2012+5.0%
Q4 2011-1.5%
Q1 2011-1.5%
Q1 2012+1.6%
Q3 2010

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