Jabil's strategy remains intact and the plan is working well

The US-based EMS provider reported net revenues for the first quarter of USD 7.5 billion, up from 6.5 billion for the same period last year. First quarter gross profit for fiscal 2020 amounted to USD 534 million, up from USD 519.5 million last year. Operating income for the quarter amounted to USD 152.8 million, down from USD 216.7 million during the first quarter last year. Jabil's Diversified Manufacturing Services (DMS) showed a year-on-year revenue growth of 3%, and the Electronics Manufacturing Services (EMS) segment posted a year-on-year revenue growth of 26% "In September, we outlined a strategic plan that focused on providing world-class solutions for our customers and value for our shareholders through a better ‘mix and balance’ of business. Today, I’m pleased to report our strategy remains intact and our plan is working well, as reflected by our first quarter results," Mondello continues in the report. The CEO continues saying that given the nice start to the year, the company now believe FY20 revenue will be in the neighbourhood of USD 26.7 billion.