Jabil, the leading electronics supplier and manufacturer, is projecting a decrease in revenue for its fiscal first quarter. However, despite this dip, the company expects to see a larger profit and higher adjusted earnings compared to analysts' projections.
Jabil anticipates quarterly revenue to range between $8.4 billion and $9 billion, which is lower than the $9.64 billion recorded last year. Analysts surveyed by FactSet have estimated revenue of $9.18 billion for the quarter.
In contrast to last year's figures, Jabil foresees a profit of $423 million to $483 million for the quarter ending on November 30. This marks a significant increase from the $223 million profit reported during the same period in the previous year.
The company also predicts a rise in earnings per share, projected to be between $2.02 and $2.42. This exceeds the $1.61 earnings per share reported in the same quarter last year.
Adjusted Earnings Outperform Expectations
Jabil's adjusted earnings, which exclude one-time items, are expected to be between $2.40 and $2.80 per share. This surpasses the consensus estimate of $2.33 per share from analysts polled by FactSet.
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