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Jabil Inc (JBL) Stock Pops as Revenue Grows 9.6%

Jabil Inc (NYSE:JBL) reported on its latest quarter after hours Thursday.

Jabil Inc (JBL)For its first quarter, the company reported earnings of $144.54 million, or 80 cents per share, beating the year-ago quarterly mark of $129.64 million, or 69 cents per share. Analysts polled by Thomson Reuters were calling for earnings of 79 cents per share.

Jabil also unveiled revenue of $5.59 billion to kick off the fiscal year, 9.6% better than it was a year ago. The consensus estimate called for quarterly sales of $5.5 billion. The company’s Diversified Manufacturing Services grew 13% year-over-year.

Its Electronics Manufacturing Services surged 6% compared to the year-ago mark, while its core-operating income was $227 million. “Our second quarter guidance, which suggests ten percent revenue growth and nearly 25 percent core EPS growth year-on-year, is an absolute reflection of the momentum we have in our business today,” said Jabil CEO Mark T. Mondello

“Moreover, we anticipate the growth to continue in the second half of the fiscal year, resulting in core earnings per share of approximately $2.60 for 2018,” added the chief.

For its second quarter of fiscal 2018, the company sees its earnings growing to between 50 cents and 74 cents per share, ahead of Wall Street’s consensus estimate of 61 cents per share.

In the revenue front, the company projects that it will rake in between $4.75 billion and $5.05 billion, which would top analysts’ outlook of $4.74 billion.

JBL stock gained more than 3.6% after hours Thursday.

Article printed from InvestorPlace Media, https://investorplace.com/2017/12/jabil-inc-jbl/.

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