Jabil (JBL) shares jumped about 9% Wednesday after the manufacturer of circuit boards posted better-than-expected results and boosted its guidance after announcing a restructuring plan earlier this year.

The firm that counts Apple (AAPL) as a customer reported fiscal 2025 first-quarter adjusted earnings per share (EPS) of $2.00, with revenue falling nearly 17% year-over-year to $6.99 billion. Both beat consensus forecasts of analysts polled by Visible Alpha.

Chief Executive Officer (CEO) Mike Dastoor said the performance exceeded the company's expectations, "driven by incremental strength in our Cloud, Data Center Infrastructure, and Digital Commerce end-markets."

Jabil Announced Restructuring in September

In September, Jabil said it would be instituting layoffs across its selling, general and administrative (SG&A) and manufacturing cost base, as well as capacity realignment, in order to "align our support infrastructure to further optimize organizational effectiveness."  

The company now sees full-year adjusted EPS of $8.75, up from its earlier outlook of $8.65. It anticipates revenue of $27.3 billion, versus its previous estimate of $27.0 billion.

Shares of Jabil are about 14% higher so far in 2024.