Jabil raises its outlook for 2021following 'outstanding' 2Q
“Our second quarter performance was outstanding,” says CEO Mark Mondello. “The combination of broad end-market strength, more favorable product mix, and excellent operational execution by the team allowed us to deliver USD 285 million in core operating income on revenue of USD 6.8 billion.”
During the second quarter the EMS provider managed to record net revenues of USD 6.8 billion. U.S. GAAP operating income amounted to USD 236.4 million and its core operating income (Non-GAAP): amounted to USD 284.6 million. The company's Diversified Manufacturing Services (DMS) showed a year-on-year revenue growth of 26% while its Electronics Manufacturing Services (EMS) experienced a year-on-year revenue decrease of 1%. For the third quarter of 2021 the company expects revenues of USD 6.6 billion to USD 7.2 billion and U.S. GAAP operating income USD 188 million to USD 238 million. “I’m extremely confident in our plan moving forward, which is supported by both strong secular tailwinds and accelerated momentum in many of the end-markets we serve. As a result, we are raising our financial outlook for the balance of the year. We now expect FY21 to deliver revenue in the range of USD 28.5 billion and core EPS of approximately USD 5,” added Mondello.