Jabil Inc (NYSE: JBL) reported better-than-expected results for its first quarter and issued strong second-quarter sales guidance.
The St. Petersburg, Florida-based company reported net revenue of $6.5 billion U.S. GAAP operating income was $216.7 million, while diluted earnings per share were 76 cents
Said CEO Mark Mondello, "I’m extremely pleased with our outstanding first quarter results. The team continued to ramp challenging new programs in targeted markets and achieved double-digit growth through excellent operational execution.
"These strong results reflect record revenue, operating income and core EPS. The exceptional performance is proof that our diversification strategy is working and delivering predictable returns."
In terms of Q2 guidance, net revenue is seen between $5.8 and $6.4 billion, operating income at $116 million to $168 million. Core operating income is seen as being $165 million to $205 million
Jabil is a product solutions company providing comprehensive design, manufacturing, supply chain and product management services. Operating from over 100 facilities in 29 countries, Jabil delivers innovative, integrated and tailored solutions to customers across a broad range of industries.
"We expect this positive momentum to continue into our second quarter driven by strength in end-markets like automotive, cloud, healthcare and 5G wireless. I’m also pleased that the outlook for fiscal 2019 remains consistent as we deliver value for shareholders through strong earnings growth and year-over-year increasing cash flows," added Mondello.
Shares sparked $1.77, or 8%, to $23.98
