Market Updates
Jabil Net Rises 29% On Stable Gross Margins
Scott Peters
16 Jun, 2022
New York City
Jabil Inc the electronics contract manufacturer, said revenues in the fiscal third quarter ending in May increased 15.2% to $8.3 billion.
Net income increased 28.9% to $218 million from a year ago and diluted earnings per share increased to $1.52 from $1.12.
The diversified manufacturing services revenues rose 7% and electronics manufacturing services revenues jumped 23% from a year ago.
Gross margin dropped to 7.4% from 7.8% a year ago and net margin increased to 2.6% from 2.3% a year ago.
Operating cash flow increased to $745 million from $671 million, net cash used in investing activities declined to $616 million from $644 million, and net cash used in financing activities jumped to $639 million from $177 million.
Guidance and Outlook
The company guided fourth quarter revenues between $8.1 billion and $8.7 billion and guided operating income between $367 million to $427 million.
Diluted earnings per share in the fourth quarter are estimated between $1.78 to $2.18.
For the fiscal year 2022, the company guided total revenues of $32.8 billion and core earnings per share $7.45 excluding 8 cents linked to amortization charges and 10 cents related to stock option expenses.
Company and Stocks
Jabil offers electronics manufacturing services and operates 100 locations in 30 countries with over 260,000 employees.
Jabil stock declined today 9.8% to $53.03 and has declined 24.75% in the year so far.
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