© Jabil Electronics Production | March 16, 2018
Jabil CEO: ‘I’m pleased with the results of our second quarter’
EMS provider Jabil recorded net revenues of USD 5.3 billion during the second quarter 2018, a significant increase from USD 4.4 billion during 2Q17.
“I’m pleased with the results of our second quarter, which was characterized by strong revenue growth, core operating income expansion and healthy cash flow generation,” said CEO Mark Mondello. “Additionally, we invested in several key new programs, returned approximately $150 million to shareholders via our capital return program and successfully renewed 10-year senior notes at a more favorable rate. These activities, both operational and strategic, position us well as we remain focused on diversifying our earnings and cash flows,” he added. As mentioned earlier, Jabil’s second quarter revenues amounted to USD 5.3 billion, up from USD 4.4 billion during the same period last year. Gross profit for the second quarter of 2018 ended up at USD 397.1 million, compared to 361.9 million for the comparison period. Operating income amounted to 129,53 million during 2Q18, up from USD 83.18 million during the same quarter last year. Net income for the company’s second quarter of 2018 ended up at USD 37.52 million, a more than decent climb from USD 20.12 million during the same quarter 2017. “Looking ahead to the second half of fiscal 2018, we expect the broad-based growth across both of our segments to continue as we approach $21 billion in revenue for the year. At the same time, we remain committed to delivering $1 billion in operating cash flows and core earnings per share of approximately $2.60 for the year,” added Mondello.