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Jabil Posts Q2; Raises Outlook for Fiscal Year
March 17, 2021 | Jabil Inc.Estimated reading time: 1 minute
Jabil Inc. reported preliminary, unaudited financial results for its second quarter of fiscal year 2021.
“Our second quarter performance was outstanding,” said CEO Mark Mondello. “The combination of broad end-market strength, more favorable product mix, and excellent operational execution by the team allowed us to deliver $285 million in core operating income on revenue of $6.8 billion,” he added.
Second Quarter of Fiscal Year 2021 Highlights:
- Net revenue: $6.8 billion
- Diversified Manufacturing Services (DMS) year-on-year revenue growth: 26 percent
- Electronics Manufacturing Services (EMS) year-on-year revenue decrease: 1 percent
- U.S. GAAP operating income: $236.4 million
- U.S. GAAP diluted earnings per share: $0.99
- Core operating income (Non-GAAP): $284.6 million
- Core diluted earnings per share (Non-GAAP): $1.27
Third Quarter of Fiscal Year 2021 Outlook:
- Net revenue: $6.6 billion to $7.2 billion
- U.S. GAAP operating income: $188 million to $238 million
- U.S. GAAP diluted earnings per share: $0.69 to $0.89 per diluted share
- Core operating income (Non-GAAP): $220 million to $270 million
- Core diluted earnings per share (Non-GAAP): $0.90 to $1.10 per diluted share
- Total company revenue: Increase 9 percent year-on-year
Fiscal Year 2021 Updated Outlook:
“I’m extremely confident in our plan moving forward, which is supported by both strong secular tailwinds and accelerated momentum in many of the end-markets we serve. As a result, we are raising our financial outlook for the balance of the year. We now expect FY21 to deliver revenue in the range of $28.5 billion and core EPS of approximately $5,” added Mondello.
Non-GAAP: Core operating income and core diluted earnings per share exclude anticipated adjustments of $12.0 million for amortization of intangibles (or $0.08 per diluted share), $17.0 million for stock-based compensation expense and related charges (or $0.11 per diluted share) and $3.0 million for restructuring, severance and related charges (or $0.02 per diluted share).
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