Jabil Reports FYQ1 Results

Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its first quarter of fiscal year 2023.

“Our Q1 FY23 performance was outstanding,” said Chairman and CEO Mark Mondello. “The combination of strong demand, more favorable product mix and excellent execution by the team allowed us to deliver $2.31 in core EPS on revenue of $9.6 billion for the quarter,” he added.

First Quarter of Fiscal Year 2023 Highlights:

  • Net revenue: $9.6 billion
  • Diversified Manufacturing Services (DMS) year-on-year revenue growth: 8 percent
  • Electronics Manufacturing Services (EMS) year-on-year revenue growth: 18 percent
  • U.S. GAAP operating income: $362 million
  • U.S. GAAP diluted earnings per share: $1.61
  • Core operating income (Non-GAAP): $461 million
  • Core diluted earnings per share (Non-GAAP): $2.31

Second Quarter of Fiscal Year 2023 Outlook:

Net revenue

$7.8 billion to $8.4 billion

U.S. GAAP operating income

$319 million to $379 million

U.S. GAAP diluted earnings per share

$1.44 to $1.84 per diluted share

Core operating income (Non-GAAP) (1)

$347 million to $407 million

Core diluted earnings per share (Non-GAAP) (1)

$1.64 to $2.04 per diluted share

Total company revenue

Increase 7 percent year-on-year

Fiscal Year 2023 Updated Outlook:

“I remain confident in our plan moving forward, which is supported by both strong secular tailwinds and continued refinement of our more traditional businesses,” continued Mondello. “As a result, we are raising our core EPS for the year to $8.40, a twenty-five cent increase from our outlook at the beginning of the fiscal year,” added Mondello.

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