© Jabil Electronics Production | June 23, 2020
Jabil keeps performing in the midst of the global pandemic
“Our ability to deliver strong cash flows and solid revenue growth in the midst of a global pandemic suggests we’re doing something right,” says Jabil CEO, Mark Mondello.
Jabil has reported its preliminary, unaudited financial results for its third quarter of fiscal year 2020, and the company is reporting growth in both revenues and gross profit – but took a dive in terms of net income. Net revenues amounted to USD 6.3 billion during the third quarter of 2020, up from USD 6.1 billion during the same period last year. Gross profit was USD 5.87 billion, compared to USD 5.69 billion in 3Q19. Operating income decreased to USD 59.48 million in the third quarter of 2020 compared to USD 140.91 million the same period the previous year. Net income took a dive to USD -50.26 million, compared to USD 44.03 million during 3Q19. “I want to offer my sincere appreciation to all those who work so hard to keep our people safe. The unique combination of efficiently operating our factories, and the strength of our well-diversified commercial portfolio, has allowed us to successfully navigate an extremely challenging macro environment,” Mondello added.