By Dean Seal
Jabil lifted full-year guidance after outperforming Wall Street sales and profitability estimates for the fiscal second quarter.
The contract manufacturer of electrical components said it now expects $27.9 billion in revenue for the fiscal year that started Sept. 1. That's up from its previous guidance for $27.3 billion, which was also the target of analysts polled by FactSet.
Jabil is also forecasting earnings of $8.95 a share for the year, up 20 cents from its prior outlook and above the $8.74 per share that analysts had been projecting.
Shares were up 7.5% at $150 in premarket trading.
For the fiscal second quarter ended Feb. 28, Jabil posted a profit of $117 million, of $1.06 a share. That's down from $927 million, or $7.31 a share, in the comparable period a year earlier when the company realized a $944 million gain from the sale of its mobility business.
Stripping out one-time items, adjusted earnings were $1.94. Analysts surveyed by FactSet had been expecting $1.83 a share.
Sales slid to $6.73 billion from $6.77 billion a year earlier, but analysts had been bracing for a bigger drop to $6.41 billion.
Chief Executive Mike Dastoor attributed the outperformance to strength in Jabil's capital equipment, cloud and data center infrastructure, as well as digital commerce end-markets.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 20, 2025 08:23 ET (12:23 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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