© Reuters. Jabil (JBL) jumps as execution boosts Q3 results
Jabil (NYSE:) shares gained over 4% at the beginning of Thursday’s session on the back of its third-quarter profit and revenue beat.
The business posted Q3 of $1.99, $0.11 better than the analyst estimate of $1.88, while revenue for the quarter came in at $8.5 billion versus the consensus estimate of $8.19 billion.
The company’s Diversified Manufacturing Services (DMS) year-on-year revenue growth was 13%, while its Electronics Manufacturing Services (EMS) year-on-year revenue declined by 8%
However, Kenny Wilson, JBL’s CEO, stated that the company is “in good shape,” executing well in “what has been a dynamic operating environment.”
“Our strong year-to-date performance is a testament to Jabil’s strengths, specifically our diversified end-market portfolio and worldwide connected factory network, which enables us to offer unique engineering, manufacturing, and supply chain solutions to our customers across the globe,” he added.
Looking ahead, JBL sees its Q4 EPS from $2.14 to $2.50, versus the consensus of $2.30, with revenue expected to be between $8.2B and 8.8B, versus the consensus of $8.57B.
“I feel strongly that our solid execution will continue, as the team carries positive momentum into the final quarter of FY23,” added Wilson.
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