Jabil Posts Better-than-expected Earnings

Jabil Inc. (NYSE: JBL) on Wednesday reported 2017 fiscal fourth quarter revenue and revenue that topped analysts’ estimates, sending the company’s chases up nearly 3 percent in the early trading.

The electronics marker said fiscal fourth quarter revenue rose 13.4 percent to $5.02 billion. While the company earned 64 cents per share in the quarter end August 31, 2017. Analysts had projected earnings of 0.62 cents per share

“I’m very pleased with our team’s performance throughout the fiscal year,” said CEO Mark Mondello. “As we described at the outset of the year, success would include solid revenue and core earnings growth coupled with strong cash flow generation. Clearly, we delivered on these strategic objectives,” he added.

Jabil shares rose 3.37 percent to $29.78 per share in the early trading in New York. The stock has gained 25.9 percent this year.

“Looking ahead, we expect continued revenue and core EPS growth in both the first quarter and fiscal 2018. The success of our capabilities-driven strategy is allowing for continued share gains and enhanced diversification across the enterprise. As a result, our plan to deliver core EPS of $2.60 in 2018 and $3.00 in 2019 remains on track,” added Mondello.

The company now expected revenue in a range of $5.25 billion to $5.75 billion, and EPS in a range of 65 cents to 91 cents for the first quarter.

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