Jabil Inc. (JBL) Misses EPS Forecast in Q2, Shares Dip on Weak Guidance
In the latest financial disclosures, Jabil Inc. (NYSE: JBL), a leading provider of comprehensive engineering, manufacturing, and supply chain solutions, unveiled its second-quarter results for the fiscal year 2024, illustrating a robust performance amid challenging market conditions.
Jabil Inc. reported a net revenue of $6.8 billion for the second quarter, which fell short of the previous year’s revenue. However, the company’s ability to maintain a solid U.S. GAAP operating income of $1.1 billion and deliver U.S. GAAP diluted earnings per share of $7.31 is a testament to its business model’s strength and its operational strategies’ effectiveness.
This firm also reported a core operating income (Non-GAAP) of $338 million and core diluted earnings per share (Non-GAAP) of $1.68, slightly lower than the expected $1.69.
Jabil Inc. Misses Q2 EPS Expectations by $0.01
Comparing Jabil’s current performance against market expectations reveals a nuanced picture. Analysts had pegged the company’s earnings per share (EPS) at $1.69 and revenue forecasts at $6.97 billion for the quarter. Jabil missed the EPS expectations with a core diluted EPS of $1.68 and fell slightly short on revenue, posting $6.8 billion.
This slight deviation from revenue expectations can be attributed to the short-term revenue headwinds acknowledged by CEO Kenny Wilson.
Jabil Inc. Posts Weak Guidance for Fiscal Q3
Looking ahead, Jabil guided for the third quarter of the fiscal year 2024, projecting net revenue to range between $6.2 billion and $6.8 billion. Furthermore, the company expects core operating income (Non-GAAP) to be between $325 million and $385 million, with core diluted earnings per share (Non-GAAP) ranging from $1.65 to $2.05. This guidance reflects a cautious but optimistic outlook, considering the ongoing adjustments and the divestiture of the Mobility business, indicating Jabil’s strategic realignment and focus on core competencies.
Disclaimer: The author does not hold or have a position in any securities discussed in the article.
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