Diving Into Jabil's Segments: How Diverse Manufacturing And Electronics Services Fared in Q1?
Portfolio Pulse from Anusuya Lahiri
Jabil Inc (NYSE: JBL) reported Q1 FY24 revenue of $8.39 billion, a 13% decrease Y/Y but slightly above consensus estimates of $8.35 billion. Diversified Manufacturing Services (DMS) revenue fell by 6% Y/Y, while Electronics Manufacturing Services (EMS) revenue dropped by 21% Y/Y. Adjusted EPS was $2.60, surpassing the consensus of $2.58. The company has $1.55 billion in cash and equivalents. Jabil's Q2 revenue forecast is between $7.0 billion and $7.6 billion, with adjusted EPS of $1.73 to $2.13, compared to a consensus of $7.34 billion and $1.93, respectively. FY24 revenue guidance was reiterated at $31 billion, with adjusted EPS expected to be $9.00+, both slightly below consensus. JBL stock has risen 80% YTD and is trading up 0.83% at $121.60 in premarket.
December 14, 2023 | 1:40 pm
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POSITIVE IMPACT
Jabil Inc reported a revenue decline in Q1 FY24 but beat consensus estimates. Adjusted EPS also exceeded expectations. The company provided a cautious but steady outlook for Q2 and FY24, with stock prices showing an uptrend.
Jabil's positive earnings report and the beat on consensus estimates are likely to instill investor confidence, leading to a short-term positive impact on the stock price. The company's steady outlook for the future, despite a softening in demand, supports the potential for continued investor interest. The premarket uptick in stock price further indicates a positive short-term reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100