Jabil Expects Q3 Net Revenue of $6.2B-$6.8B Vs $7.37B Est and Adj EPS of $1.65-$2.05 Vs $2.12 Est, FY24 Revenue of $28.5B (Prior $$30.6B) Vs $30.5B Est, Adj EPS of $8.40 (Prior $9.00) Vs $8.99 Est
Portfolio Pulse from Benzinga Newsdesk
Jabil has revised its Q3 and FY24 financial outlook downwards. Q3 net revenue is expected to be between $6.2B-$6.8B, below the $7.37B estimate, with adjusted EPS of $1.65-$2.05, under the $2.12 estimate. For FY24, revenue is now projected at $28.5B, down from the prior $30.6B and below the $30.5B estimate, with adjusted EPS at $8.40, down from the prior $9.00 and below the $8.99 estimate.
March 15, 2024 | 11:56 am
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Jabil has lowered its Q3 and FY24 financial forecasts, with both revenue and adjusted EPS falling below analyst estimates.
The downward revision in Jabil's financial outlook, especially with both revenue and EPS falling below analyst estimates, is likely to negatively impact investor sentiment and could lead to a short-term decrease in stock price. The significant adjustments indicate potential challenges in the company's operations or market conditions that could affect its performance.
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