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Jabil Earnings: JBL Stock Jumps 7% on Q1 Results

Jabil (NYSE:JBL) earnings for the manufacturing services company’s fiscal first quarter of 2020 have JBL stock heading higher on Tuesday. This is due to its core EPS of $1.05 and revenue of $7.51 billion. These are both above Wall Street’s estimates of 94 cents and $6.95 billion.

Jabil Earnings: JBL Stock Jumps 7% on Q1 Results

Source: Sundry Photography / Shutterstock.com

Let’s take a more in-depth look at the most recent Jabil earnings report.

  • Core per-share earnings are up 16.67% from 90 cents during the same time last year.
  • Revenue for the quarter comes in 15.36% higher than the $6.51 billion in fiscal Q1 2019.
  • Its gross profit comes in at $553.84 million, which is 6.58% better than the previous $519.65 million.
  • Operating income of $152.78 million is 29.50% lower YoY from $216.71 million.
  • The Jabil earnings report also includes a net income of $40.71million.
  • That’s a 67.19% decrease from the company’s net income of $124.07 million in the same period of the year prior.

Mark Mondello, CEO of Jabil, says this about the JBL stock earnings.

“Our first quarter results reflect exceptional execution across all of our businesses. Our team delivered strong revenue and achieved our margin target, enabling us to drive core EPS well-above expectations.”

The Jabil earnings report also includes an update for its fiscal 2020 outlook. This has it expecting core earnings per share of $3.45 on revenue of $26.70 billion. That stacks up well next to Wall Street’s estimate of $3.45 per share and $26.18 billion for the fiscal year.

JBL stock was up 7.01% as of Tuesday afternoon. It’s also up 64.14% from the same time last year.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2019/12/jabil-earnings-send-jbl-stock-soaring/.

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