Fabrinet (NYSE:FN) dropped its first-quarter fiscal 2027 results after Monday's closing bell, and the numbers were the kind that make analysts double-check their spreadsheets. The company beat estimates on both the top and bottom lines, and the stock responded accordingly.

Inside the Numbers

Fabrinet reported quarterly earnings of $4.34 per share, which beat the Street estimate of $4.19, according to market data.

Quarterly revenue of $1.47 billion beat the consensus estimate of $1.403 billion by 5.11 percent. That's a 50.74 percent increase over sales of $978.128 million in the same period last year. Not a typo. Revenue grew by more than half.

The company also announced that its board approved an expansion of its share repurchase program, authorizing the repurchase of up to an additional $103 million of Fabrinet's ordinary shares. That brings the aggregate authorization under the existing program to $637.3 million.

CEO Seamus Grady was in a good mood about it: "Fiscal year 2027 is off to an excellent start with record revenue and non-GAAP earnings per share that were well above our guidance ranges. Broad-based demand across multiple significant programs drove these results, with new product ramps further supporting our growth."

He added: "We enter the second quarter with exceptional momentum that makes us confident that we can deliver another strong performance."

Looking Ahead

If you thought the first quarter was good, the guidance is arguably better. Fabrinet expects second-quarter adjusted EPS of $4.77-$4.92, versus the $4.41 analyst estimate. Revenue is guided to a range of $1.6 billion to $1.65 billion, versus the $1.48 billion estimate.

That's not a modest beat-and-raise. That's a company telling the market its momentum is accelerating, not fading.

FN Stock Price: According to market data, Fabrinet stock was up 12.82% to $355.03 in Monday's extended trading.