Jabil Provides COVID-19 Business Update

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Today, Jabil Inc. announced, the COVID-19 outbreak will negatively impact the second quarter of fiscal year 2020, relative to the guidance provided on December 17, 2019.

“Our first priority is the overall safety of our people. To this end, we’ve instituted broad testing and quarantine protocols to support those who are on-site at our factories. In addition, we remain in close contact with our employees who’ve been unable to return to work due to on-going travel restrictions,” said CEO Mark Mondello.

“After a stronger than anticipated start to the fiscal quarter, we’re now in a position to ‘read and react’ to this very dynamic labor and supply chain situation. The actions taken by our teams have been admirable, to say the least. As we sit today, our factories, which have been adversely impacted by the virus, are now running at roughly 65?70% capacity, while overall product demand remains largely as we anticipated at the beginning of the quarter. We’ll provide updated information during our Q2 earnings call, currently planned for mid-March. In the meantime, we are intensely focused on the well-being of our employees, as we work diligently to clear down product backlog, while serving our many customers,” continued Mondello.