Why Is Fabrinet (FN) Stock Down Today?


  • Fabrinet (FN) stock is slipping after announcing the date for its next earnings report.
  • It will release fiscal Q3 2024 results after markets close on May 6, 2024.
  • Wall Street is expecting EPS of $2.11 alongside revenue of $716.91 million.
FN Stock - Why Is Fabrinet (FN) Stock Down Today?

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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 close that day. The company will also hold a conference call at 4:30 p.m. Eastern to discuss the results. A webcast will also be available on its website afterward.

What That Means for FN Stock

Fabrinet doesn’t have preliminary earnings ready, but we do know what Wall Street is looking for in fiscal Q3. That earnings per share of $2.11 alongside revenue of $716.91 million.

For the record, both of those would be an increase over its prior results. The manufacturing company reported EPS and revenue of $1.94 and $665.28 million in its fiscal third quarter of 2023.

Investors are no doubt excited about the company’s upcoming earnings report. Depending on how it performs, it could be a major positive or negative catalyst for Fabrinet shares.

FN stock is down 1% as of Wednesday morning after seeing larger drops during pre-market trading. When markets closed yesterday, the shares were also down 19.8% year-to-date.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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