Jabil Tops Q3 Estimates, CEO Highlights Strategic Growth in AI Datacenters and EV Markets
Portfolio Pulse from Anusuya Lahiri
Jabil Inc (NYSE: JBL) reported Q3 fiscal 2024 revenue of $6.77 billion, beating estimates but down 20.2% year-on-year. Adjusted EPS of $1.89 also surpassed expectations. Despite declines in DMS and EMS segments, the company is optimistic about growth in AI datacenters and EV markets. Q4 revenue is expected to be between $6.3 billion and $6.9 billion, with adjusted EPS of $2.03 to $2.43. FY24 guidance remains strong. JBL shares are down 5.53% premarket.
June 20, 2024 | 1:12 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Jabil Inc reported better-than-expected Q3 revenue and EPS, but year-on-year declines in key segments and a 5.53% premarket drop in share price indicate mixed investor sentiment. The company remains optimistic about future growth in AI datacenters and EV markets.
While Jabil beat Q3 estimates, the significant year-on-year revenue decline and premarket drop in share price suggest mixed short-term sentiment. However, the company's strategic focus on AI datacenters and EV markets could provide long-term growth opportunities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100