Fabrinet (FN) Q1 2026 Earnings Report

Fabrinet delivered a standout QQ1 2026 with a revenue of $978.1 million, marking a 29.9% year-over-year increase and a 12.2% quarter-over-quarter advance. Gross profit reached $116.4 million for a gross margin of 11.90%, while operating income was $94.2 million, supporting an EBITDA of $94.2 million and a net income of $95.9 million. Earnings per share stood at $2.68 GAAP and $2.66 on a diluted basis. The quarter generated $102.6 million in operating cash flow and $57.3 million in free cash flow, underscoring Fabrinet’s ability to translate top-line strength into cash generation despite a modest working capital headwind in inventory. The balance sheet remains exceptionally healthy, with cash and cash equivalents plus short-term investments of about $969 million and total debt of roughly $5.2 million, yielding a net cash position of approximately $-299.8 million (net debt). Management commentary is not included in the provided dataset, but the results signal resilient demand for high-value optical packaging and EMS services, supported by hyperscale data-center expansion, networking, automotive sensors, and industrial applications. Looking ahead, while no formal forward guidance is provided in the data, Fabrinet’s liquidity, favorable margin profile, and exposure to multi-year capex cycles in data-center optics position it to sustain solid cash flow generation and earnings momentum should industry demand remain constructive.