Jabil raises its outlook following Q3 performance
EMS provider Jabil reported third quarter 2022 revenues of USD 8.3 billion, up 15.2% from USD 7.2 billion during the same period last year. Given this momentum, the company is now raising its outlook for the full fiscal year.
“The effectiveness of our business model was on display during Q3, as the team delivered strong revenue and earnings results,” said Chairman and CEO Mark Mondello. “Our diversified approach has been designed to be flexible and resilient as we aim to deliver for both our customers and stakeholders. During the quarter, I believe the team did an outstanding job rising to the challenge,” in a press release.
As stated earlier, the company reported third quarter revenues of USD 8.3 billion, compared with USD 7.2 billion during the same period last year. Operating income for the quarter amounted to USD 321 million, up from USD 240 million during the third quarter of 2021. Net income ended up at USD 218 million during the third quarter of 2022, compared with USD 170 million last year
The company's Diversified Manufacturing Services (DMS) displayed a YoY revenue growth of 7% and Jabil's Electronics Manufacturing Services (EMS) could show off a YoY revenue growth of 23%
U.S. GAAP operating income: $321 million
Outlook for the full year
“As we look ahead, we see solid demand in key areas of our business,” says Mondello. “Given this ongoing momentum, we now expect FY22 revenue to be in the neighborhood of USD 32.8 billion and core EPS to be USD 7.45.”