Electronics manufacturing company Jabil Inc (JBL) reported a 94% jump in earnings for the first quarter helped by the positive momentum across all of its business segments. The results exceeded analysts’ expectations. Following this, the stock inched up over 6% in the after-market session.
Net income climbed 94% to $124.1 million and earnings jumped 117% to $0.76 per share. Core earnings, adjusted for non-comparable items, increased 12.5% to $0.90 per share.
Net revenues grew 16.5% year-over-year to $6.5 billion. Diversified Manufacturing Services revenue increased 10% and Electronics Manufacturing Services revenue grew by 22%.
Looking ahead into the second quarter, the company expects net revenue in the range of $5.8 billion to $6.4 billion and earnings in the range of $0.20 to $0.48 per share. Core earnings are anticipated to be in the range of $0.51 to $0.71 per share.
Operating income is projected to be in the range of $116 million to $168 million for the second quarter. Diversified Manufacturing Services revenue is predicted to be up 6% year-on-year and Electronics Manufacturing Services revenue is expected to grow by 23% from the previous year. Total company revenue growth is predicted to be 15% year-over-year.
“We expect this positive momentum to continue into our second quarter driven by strength in end-markets like automotive, cloud, healthcare and 5G wireless. I’m also pleased that the outlook for fiscal 2019 remains consistent as we deliver value for shareholders through strong earnings growth and year-over-year increasing cash flows,” CEO Mark Mondello said.
Shares of Jabil ended Tuesday’s regular session up 3.01% at $22.21 on the NYSE. The stock has fallen over 15% in the year so far and over 24% in the past three months.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
What to look for when CVS Health (CVS) reports Q3 earnings
Healthcare company CVS Health Corporation (NYSE: CVS) is all set to report earnings next week, with Wall Street expecting a mixed outcome. The company has been facing challenges in certain
eBay (EBAY): A few factors that helped drive growth in Q3 2024
Shares of eBay Inc. (NASDAQ: EBAY) stayed green on Friday. The stock has gained 32% year-to-date. The ecommerce leader delivered revenue and earnings growth for the third quarter of 2024,
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to