The Key Takeaways
- Jabil has exceeded its profit and sales expectations in the first three months since it announced a restructuring.
- This is attributed to the increased demand in end-markets for digital commerce, cloud infrastructure, and data center products.
- Jabil increased its revenue and earnings guidance for full-year.
Jabil’s (JBL), a manufacturer of circuit board, posted better than expected results on Wednesday and raised its outlook after it announced a restructuring earlier in the year.
Apple (AAPL), a company that is a major customer, has reported a first-quarter fiscal 2025 adjusted earnings per shared (EPS) figure of $2.00. Revenues fell by almost 17% over the previous year to $6.99 billion. Visible Alpha polled analysts and both companies beat their consensus estimates.
The Chief Executive (CEO), Mike Dastoor stated that performance was above expectations. “driven by incremental strength in our Cloud, Data Center Infrastructure, and Digital Commerce end-markets.”
Jabil announces restructuring in September
In September, Jabil said it would be instituting layoffs across its selling, general and administrative (SG&A) and manufacturing cost base, as well as capacity realignment, in order to “align our support infrastructure to further optimize organizational effectiveness.”
It now expects a full-year adjusted earnings per share (EPS) of $8.75. This is up from the $8.65 it had previously forecasted. It expects to generate revenue of $27.3billion, as opposed to its earlier estimate of 27.0billion.
Jabil shares are up about 14% so far in 2020.
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