Jabil Circuit Down After Weak Q3 Guidance

Jabil Circuit

released its fiscal second-quarter earnings results on Wednesday after the closing bell. In the after hours trading session, the stock was last down better than 2 percent to $19.00. The company missed Wall Street earnings per share estimates, beat revenue expectations and offered Q3 earnings and sales guidance which was below current consensus. For the second-quarter, Jabil Circuit reported net income of $88.5 million or $0.43 per share, compared to $97.7 million or $0.46 per share, in last year's corresponding quarter. On an adjusted basis, earnings fell to $109.3 million or $0.53 per share, versus $123.2 million or $0.58 per share, in the year ago period. This missed analysts' consensus EPS estimates of $0.54 by a penny. Revenue in the quarter was up 4.3 percent to $4.42 billion from $4.24 billion last year. This came in ahead of Wall Street consensus expectations of $4.38 billion. Looking ahead to the fiscal third-quarter, the company guided for adjusted EPS between $0.50 and $0.58 on revenue of $4.3 billion to $4.5 billion. This compares to current Wall Street consensus of $0.61 per share on revenue of $4.52 billion.