What's Next for Jabil After Record Earnings?

Jabil Inc. (NYSE: JBL) reported its most recent quarterly results before the markets opened on Thursday. The firm said that it had $1.60 in earnings per share (EPS) and $7.8 billion in revenue, while consensus estimates had called for $1.27 in EPS and $7.03 billion in revenue. The fiscal first quarter of last year reportedly had $1.05 in EPS and $7.51 billion in revenue.

Overall, the company delivered record quarterly results for revenue, core operating income and core EPS.

Management noted that these results demonstrated that the firm’s multiyear strategy to create a more optimized commercial portfolio is in fact working.

During the quarter, Diversified Manufacturing Services (DMS) revenue grew 13% year on year, and Electronics Manufacturing Services (EMS) decreased 4%.

Jabil’s cash and cash equivalents totaled $1.01 billion at the end of the quarter, down from $1.39 billion at the end of the previous year.

Looking ahead to the fiscal second quarter, the firm expects to see EPS in the range of $0.83 to $1.03 and revenue between $6.2 billion and $6.8 billion. Consensus estimates are calling for $0.88 in EPS and $6.24 billion in revenue for the coming quarter.

Excluding Thursday’s move, the stock had underperformed the broad markets, with shares down about 1% year to date. In the past 52-weeks, it was actually down closer to 5%. However, in the past quarter alone, the stock is up about 25%, not counting Thursday’s move.

Jabil stock traded up about 8% Thursday morning to $44.44, in a 52-week range of $17.63 to $44.87. Analysts have a consensus price target of $45.20 for the stock.

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