Jabil Inc (JBL) surpassed earnings estimates, while meeting revenue targets for Q2 2019. The company posted earnings of $0.64 per share on revenue of $6.1 billion. Analysts had predicted Jabil to report earnings of $0.61 per share on revenue of $6.1 billion for the second quarter. Shares of Jabil are up about 2% during the extended trading hours.
On a GAAP basis, earnings stood at 43 cents per share. Diversified Manufacturing Services (DMS) revenue decreased 7% compared to the prior year quarter, while Electronics Manufacturing Services (EMS) revenue grew 33% in the recently ended quarter.
For the second quarter, the company had expected 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 (non-GAAP) earnings were anticipated to be in the range of $0.51 to $0.71 per share. DMS revenue was predicted to rise 6% and EMS revenue was expected to grow by 23% from the previous year.
“As we move into the back half of our fiscal year, our outlook for revenue and core EPS remain strong, supported by strength in our healthcare, retail, cloud and industrial businesses,” said CEO Mark Mondello.
For Q3 2019, Jabil expects revenue to be in the range of $5.7 billion to $6.3 billion. DMS revenue is expeced to decrease 12% year-over-year, while EMS revenue is targeted to increase 27%. GAAP EPS is estimated to be $0.19 to $0.46 and core (non-GAAP) EPS is expected to be in the range of $0.47 to $0.67.
Jabil’s stock value has appreciated 10% so far in this year and depreciated 3% in the past 52 weeks period.