Jabil (NYSE:JBL) gained nearly 5% yesterday after the company reported its Q3 earnings results, with EPS of $1.99 coming in above the Street estimate of $1.88. Revenue was $8.5 billion, beating the Street estimate of $8.19 billion.
For the full Q4/23, management anticipates EPS to be in the range of $2.14-$2.50, compared to the Street estimate of $2.30, and revenue in the range of $8.2-$8.8 billion, compared to the Street estimate of $8.57 billion.
The Diversified Manufacturing Services (DMS) division of the company experienced a 13% increase in revenue compared to the previous year, whereas the Electronics Manufacturing Services (EMS) division saw a decline of 8% in revenue. Nonetheless, according to Kenny Wilson, the CEO of JBL, the company is in a favorable position and successfully navigating a constantly changing business environment.