Jabil CEO: “Our momentum continues”
EMS provider Jabil recorded net revenues of USD 8.6 billion during the first quarter of fiscal year 2022, compared with USD 7.8 billion during the same time last year.
“Our momentum continues, and I’m thrilled with our teams’ strong performance in Q1,” said Chairman and CEO Mark Mondello in a press release. “During the quarter, our financial results were supported by growth in key end-markets and successful management of a very dynamic supply chain environment. Our performance is illustrative of both the power of our talented workforce and the resiliency of our large-scale diversified model, which serves a broad range of end-markets today.” Jabil recorded first quarter net revenue of USD 8.6 billion, up from USD 7.8 during the first quarter of 2021. The EMS provider reports a first quarter 2022 gross profit of USD 675 million, up from USD 635 million during the same period last year. Operating income amounted to 350 million during the quarter, compared with USD 314 million last year. First quarter 2022 net income amounted to USD 241 million, up from USD 201 million during the first quarter 2021. Diversified Manufacturing Services (DMS) revenue grew 11% YoY, while Electronics Manufacturing Services (EMS) increased 7% YoY. “Our commercial portfolio has been constructed to deliver reliable margins and strong free cash flows, and what we're doing is working,” Mondello states in the press release. “Given our strong start to the year, combined with our improved forecast, we now expect FY22 revenue will be USD 31.8 billion, while core EPS will increase to USD 6.55, up 20 cents from our outlook in September."