Jabil Circuit Earnings: Here’s Why Investors are Selling Shares Now
Jabil Circuit Inc. (NYSE:JBL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.92%.
Jabil Circuit Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 12.5% to $0.56 in the quarter versus EPS of $0.64 in the year-earlier quarter.
Revenue: Rose 5.1% to $4.47 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Jabil Circuit Inc. reported adjusted EPS income of $0.56 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $4.4 billion.
Quoting Management: “We are pleased with our progress on the diversification of our business and the positive benefits it affords the company,” said Jabil’s Chief Executive Officer, Mark T. Mondello. “We expect this diversification to continue during our fourth fiscal quarter as we finalize our acquisition of Nypro, which is expected to close on the 1st of July,” he said.
Key Stats (on next page)…