Jabil JBL announced results of its third quarter Wednesday afternoon.
Revenue toppled the analyst estimate by 5.28 percent at $3.79 billion versus $3.6 billion. Manufacturing brought in $1.6 billion, enterprise & infrastructure contributed $1.3 billion and high velocity systems added revenue of $0.9 billion. Despite beating analyst estimates, sales are down 18.7 percent year over year.
Related: S&P 500 Back And Fill Coming Amid Bullish Stats
Earnings were also stronger than expected at a $0.06 loss per share versus a $0.09 loss. This is a significant decrease from $0.56 gain for the same quarter last year.
Looking forward, revenue is expected between $3.7 billion and $3.9 billion. This was expected; the analyst consensus is $3.78 billion. Jabil gave a massive earnings range: a $0.10 loss to a $0.10 gain per share. Full year guidance was maintained at $1.65 to $1.95.
Shares of Jabil are up 1.99 percent in extended hours trading to $20.50
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.