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Jabil Earnings: JBL Stock Soars on Q1 Earnings Beat

Jabil earnings (NYSE:JBL) came out late in the day on Tuesday, with the company’s profit and revenue both coming in ahead of what analysts were calling for, sending its shares skyrocketing after Wall Street closed.

Jabil EarningsThe St. Petersburg, Fla.-based company said that for its first quarter of fiscal 2019, it brought in net income of $123.6 billion, or 76 cents per share, which is close to double the $63.8 million, or 35 cents per share it amassed during its year-ago quarter. On an adjusted basis, the manufacturing services provider brought in a profit of 90 cents per share.

Analysts were calling for Jabil to bring in adjusted earnings of 88 cents per share, according to data compiled by FactSet. The company also managed to rake in revenue of $6.51 billion for the period, ahead of the $5.59 billion it had for its first quarter of fiscal 2018. The Wall Street consensus estimate called for sales of $6.1 billion, according to FactSet.

For its fiscal second quarter, analysts are calling for the company to report adjusted earnings of 60 cents per share on sales of $5.81 billion. Jabil sees its adjusted earnings for the period to be between 51 cents and 71 cents per share, while revenue is slated to be between $5.8 billion and $6.4 billion.

JBL stock soared about 11.6% after the bell on the day following the company’s strong quarterly earnings showing, while shares had gained 3% during regular trading hours in anticipation of the manufacturing services provider reporting its results.

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