Jabil CEO "I like what we’re doing and where we’re going"
US EMS provider Jabil has just reported preliminary, unaudited financial results for its second quarter of fiscal year 2022. The company recorded revenues of USD 7.6 billion during the quarter, an increase from USD USD 6.8 billion during 2Q21.
“The Jabil team delivered another strong quarter in Q2, highlighted by outstanding operational execution and skillful management of current supply chain dynamics,” CEO Mark Mondello says in a press release. “These actions, coupled with strong demand in key end-markets, allowed us to deliver robust financial results year-on-year,” he added.
During the second quarter of 2022, the company recorded net revenues of USD 7.6 billion, up from USD 6.8 billion during the same period 2021. Operating income for the period amounted to USD 313 million, compared with USD 236 million during the same period last year. Net income during the second quarter of 2022 ended up at USD 222 million, a jump up from USD 152 million during 2Q21.
In its DMS segment, the company is reporting YoY revenue growth of 4%, and in the EMS segment, Jabil is showing off a 19% YoY revenue growth.
For the third quarter of 2023, the company is targeting net revenues of USD 7.9 – 8.5 billion.
“I like what we’re doing and where we’re going. Our strong financial outlook is supported by both strong secular tailwinds and momentum in many of the end-markets we serve,” says Mondello. “As a result, we are raising our financial outlook for the fiscal year. We now expect FY22 to deliver revenue in the range of USD 32.6 billion and core EPS of approximately USD 7.25.”