Jabil, the leading electronics supplier and manufacturer, is projecting a decrease in revenue for its fiscal first quarter. However, despite this dip, the company expects to see a larger profit and higher adjusted earnings compared to analysts' projections.
Revenue Projections
Jabil anticipates quarterly revenue to range between $8.4 billion and $9 billion, which is lower than the $9.64 billion recorded last year. Analysts surveyed by FactSet have estimated revenue of $9.18 billion for the quarter.
Increased Profit
In contrast to last year's figures, Jabil foresees a profit of $423 million to $483 million for the quarter ending on November 30. This marks a significant increase from the $223 million profit reported during the same period in the previous year.
Earnings Growth
The company also predicts a rise in earnings per share, projected to be between $2.02 and $2.42. This exceeds the $1.61 earnings per share reported in the same quarter last year.
Adjusted Earnings Outperform Expectations
Jabil's adjusted earnings, which exclude one-time items, are expected to be between $2.40 and $2.80 per share. This surpasses the consensus estimate of $2.33 per share from analysts polled by FactSet.
Tesla Stock Upgraded for Long-Term Outlook
Our Latest News
Mondi Reports Decreased Profit in Challenging Market Conditions
Mondi, the paper-and-packaging company, reports a decline in pretax profit and revenue due to challenging market conditions. The company is also continuing the...
Protecting Against Vehicle Data Stalking and Harassment
The FCC urges automakers to enhance protections against vehicle data stalking and harassment to safeguard domestic abuse survivors and create a safer society. T...
Investigation Launched into Chinese Electric Vehicle Subsidies
The EU plans to investigate China's subsidies for electric vehicle makers, as concerns grow over the impact on European companies and global markets.