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© Jabil Electronics Production | June 15, 2018

Strong third quarter for Jabil

EMS provider Jabil saw its 2018 third quarter net revenues increase to USD 5.4 billion from USD 4.5 billion during the same period last year.
Our team achieved a strong third quarter characterized by solid revenue growth and core margin expansion, year-on-year, while navigating a challenging components market,” said CEO Mark Mondello, in a press release.

The company recorded an operating income of USD 112.9 million, a significant increase from USD 43.3 million during the third quarter 2017. Net income amounted to USD 42.5 million after posting a loss of USD 25.2 million a year ago.
“Our DMS segment grew by 36 percent, well-ahead of expectations, and posted meaningful income growth on a yearly basis. Similarly, our EMS segment grew both revenue and earnings by double-digits during the quarter. Most importantly, these results reflect one of our most diversified earnings performances in recent memory giving us confidence in both our enterprise-level strategy and outlook,” Mondello added.

Based on the strong results that the company has delivered so far, Jabil is going in to its fourth quarter with confidence. The fourth quarter bet revenues guidance is set at USD 5.2 billion to USD 5.6 billion.

“Based on our strong year-to-date results and the guidance we’re providing today for the fourth fiscal quarter, we now expect fiscal 2018 revenue and core earnings per share growth of 14 percent and 23 percent, respectively, as we deliver on our core earnings per share target of $2.60,” added Mondello.

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July 18 2018 5:55 pm V10.0.0-1