Jabil: Fiscal 1Q Earnings Snapshot
ST PETERSBURG, Fla. (AP) _ Jabil Inc. (JBL) on Thursday reported fiscal first-quarter profit of $200.4 million.
The St Petersburg, Florida-based company said it had profit of $1.31 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $1.60 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.
The electronics manufacturer posted revenue of $7.83 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $7 billion.
For the current quarter ending in March, Jabil expects its per-share earnings to range from 83 cents to $1.03.
The company said it expects revenue in the range of $6.2 billion to $6.8 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $6.28 billion.
Jabil expects full-year earnings to be $4.60 per share, with revenue expected to be $27.5 billion.
Jabil shares have declined roughly 1% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 15%. The stock has increased 1% in the last 12 months.