Jabil Inc (NYSE:JBL) gained substantial ground Friday on third-quarter preliminary results.
The St. Petersburg, Florida-based company revealed net revenue: $6.3 billion. U.S. GAAP operating income: $59.4 million. U.S. GAAP diluted loss per share was $0.34. Core operating income (Non-GAAP) was $172.1 million. Core diluted earnings per share (Non-GAAP) was $0.37.
The company also posted fourth-quarter outlooks of $5.8-$6.6 billion for net revenue. GAAP was foreseen to be anywhere from $79 to $189 million, and diluted earnings per share is projected to be between four and 50 cents.
Said CEO Mark Mondello, "Our ability to deliver strong cash flows and solid revenue growth in the midst of a global pandemic suggests we’re doing something right.
"I want to offer my sincere appreciation to all those who work so hard to keep our people safe. The unique combination of efficiently operating our factories, and the strength of our well-diversified commercial portfolio, has allowed us to successfully navigate an extremely challenging macro environment," he added.
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," Friday morning's news release concludes, "Jabil simplifies complexity and delivers value in a broad range of industries, enabling innovation, growth and customer success."
Jabil powered ahead $1.66, or 5.1%, to $34.45.
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