Jabil stock gains after profit, revenue rise above expectations and full-year outlook is above forecasts

Shares of Jabil Inc. (JBL) rose 1.1% in premarket trading Thursday after the electronics manufacturing services (EMS) reported fiscal second-quarter results that rose above expectations, and provided an upbeat full-year outlook. Net income for the quarter to Feb. 28 rose to $207 million, or $1.52 a share, from $222 million, or $1.51 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $1.88 beat the FactSet consensus of $1.85. Revenue grew 7.7% to $8.13 billion, topping the FactSet consensus of $8.09 billion, with EMS services revenue rising 7% and diversified manufacturing services revenue up 8%. Looking ahead, the company expects third-quarter revenue of $7.9 billion to $8.5 billion, surrounding the FactSet consensus of $8.14 billion, but said it expects full fiscal-year revenue of $34.5 billion, which was above expectations of $33.9 billion. The stock had run up 16.3% over the past three months through Wednesday, while the S&P 500 has tacked on 1.0%.

-Tomi Kilgore

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03-16-23 0811ET

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