Jabil Clocks 12% Revenue Growth In Q1 Backed By Robust Demand

Jabil Inc (NYSE: JBL) reported first-quarter FY23 revenue growth of 12.5% year-on-year to $9.64 billion, beating the consensus of $9.33 billion.
Segments: Diversified Manufacturing Services (DMS) revenue grew 8% Y/Y. Electronics Manufacturing Services (EMS) revenue improved by 18% Y/Y.
Jabil's non-GAAP EPS of $2.31 beat the consensus of $2.24.
Jabil held $1.22 billion in cash and equivalents.
"Our Q1 FY23 performance was outstanding," said Chairman and CEO Mark Mondello. "The combination of strong demand, more favorable product mix, and excellent execution by the team allowed us to deliver $2.31 in core EPS on revenue of $9.6 billion for the quarter," he added.
Outlook: Jabil sees Q2 revenue of $7.80 billion - $8.40 billion, versus the consensus of $7.95 billion.
Jabil sees non-GAAP EPS of $1.64 - $2.04 versus the consensus of $1.81.
For FY23, the company raised its adjusted EPS outlook to $8.40 (consensus $8.18), a 25% increase from its outlook at the beginning of the fiscal year.
Price Action: JBL shares traded higher by 0.55% at $73.00 in the premarket session on the last check Thursday.
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