Jabil Posts Record First Quarter Results

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Jabil Inc. has reported preliminary, unaudited financial results for its first quarter of fiscal year 2021.

“I’m thrilled with the strong start to the fiscal year,” said CEO Mark Mondello. “Our unique positioning as a critical and trusted supplier for so many of the world’s leading brands is allowing us to benefit from powerful end-market trends. As a result, our team delivered record quarterly results for revenue, core operating income and core EPS. Importantly, these impressive results show that our multi-year strategy to create a more optimized commercial portfolio is working,” he added.

First Quarter of Fiscal Year 2021 Highlights:

• Net revenue: $7.8 billion
• Diversified Manufacturing Services (DMS) year-on-year revenue growth: 13 percent
• Electronics Manufacturing Services (EMS) year-on-year revenue decrease: 4 percent
• U.S. GAAP operating income: $314.0 million
• U.S. GAAP diluted earnings per share: $1.31
• Core operating income (Non-GAAP): $364.9 million
• Core diluted earnings per share (Non-GAAP): $1.60 

Second Quarter of Fiscal Year 2021 Outlook:

• Net revenue: $6.2 billion to $6.8 billion
• U.S. GAAP operating income: $173 million to $226 million
• U.S. GAAP diluted earnings per share: $0.60 to $0.82 per diluted share
• Core operating income (Non-GAAP) (1): $210 million to $260 million
• Core diluted earnings per share (Non-GAAP) (1): $0.83 to $1.03 per diluted share
• Total company revenue: Increase 6 percent year-on-year

Fiscal Year 2021 Updated Outlook:

"Given our strong start to the year, combined with our improved forecast, we now expect FY21 revenue will be in the neighborhood of $27.5 billion, while core margin and core EPS will increase to 4.1% and $4.60, respectively," added Mondello.

(1) Core operating income and core diluted earnings per share exclude anticipated adjustments of $11.0 million for amortization of intangibles (or $0.07 per diluted share), $18.0 million for stock-based compensation expense and related charges (or $0.11 per diluted share), $6.0 million to $3.0 million for restructuring, severance and related charges (or $0.04 to $0.02 per diluted share) and $2.0 million for acquisition and integration charges (or $0.01 per diluted share).