Why Manufacturing Company Jabil's Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Jabil Inc (NYSE: JBL) reported Q4 FY23 revenue of $8.46 billion, missing the consensus estimate of $8.54 billion. However, its adjusted EPS of $2.45 beat the consensus of $2.32. The company's Board of Directors boosted the current share repurchase program to $2.5 billion. Jabil sees Q1 revenue of $8.4 billion-$9.0 billion vs. the consensus of $9.18 billion and adjusted EPS of $2.40-$2.80 vs. the consensus of $2.33. JBL shares are trading higher by 11.40% at $117.17.
September 28, 2023 | 2:31 pm
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POSITIVE IMPACT
Jabil's Q4 revenue missed estimates but EPS beat expectations. The company also increased its share repurchase program, indicating confidence in its stock. However, its Q1 revenue outlook is below consensus.
Jabil's Q4 revenue miss is a negative, but this is offset by the EPS beat and the increase in the share repurchase program, which is typically a positive signal about a company's confidence in its stock. The Q1 revenue outlook is below consensus, which could be a concern for investors. However, the stock is currently trading higher, indicating that the market is reacting positively to the news overall.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100