Jabil: Fiscal 1Q Earnings Snapshot
ST PETERSBURG, Fla. (AP) _ Jabil Inc. (JBL) on Tuesday reported fiscal first-quarter net income of $123.6 million.
The St Petersburg, Florida-based company said it had profit of 76 cents per share. Earnings, adjusted for one-time gains and costs, came to 90 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The electronics manufacturer posted revenue of $6.51 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $6.05 billion.
For the current quarter ending in March, Jabil expects its per-share earnings to range from 51 cents to 71 cents.
The company said it expects revenue in the range of $5.8 billion to $6.4 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $5.79 billion.
Jabil shares have decreased 15 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased roughly 5 percent. In the final minutes of trading on Tuesday, shares hit $22.21, a decrease of 18 percent in the last 12 months.