Jabil Inc. (NYSE:JBL) came out with fourth-quarter numbers which caused its shares to move sharply upward.
The St. Petersburg, Fla-based company reported net revenue of $6.6 billion, while U.S. GAAP operating income was $189.7 million. On a per-share basis, the number was 34 cents. Core operating income (Non-GAAP) was revealed to be $246.1 million
"I’m thrilled with our FY19 results, highlighted by outstanding operational execution, strong free cash flow generation and double-digit core EPS growth," said CEO Mark Mondello.
"As expected, our revenue was driven higher by targeted end-markets in the areas of 5G, cloud, energy and healthcare. Looking ahead, we expect the positive momentum to continue as we remain committed to driving margin expansion and delivering strong cash flows, derived from a well-balanced stream of revenue,"
The company’s first-quarter 2020 outlook was in the range of $6.65 billion to $7.35 billion, while GAAP operating income is between $128 million and $206 million
What’s more, as part of a two-year capital allocation framework, Jabil’s Board of Directors has authorized a share repurchase program of up to $600 million in Company common stock.
Jabil is a manufacturing solutions provider that delivers comprehensive design, manufacturing, supply chain and product management services.
"Leveraging the power of over 200,000 people across 100 sites strategically located around the world,” says Tuesday’s news release, "Jabil simplifies complexity and delivers value in a broad range of industries, enabling innovation, growth and customer success."
Shares acquired $1.93, or 6.2%, to $33.26
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