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Jabil Inc. reported preliminary, unaudited financial results for its second quarter of fiscal year 2018, including second quarter net revenue of $5.3 billion. For the second quarter of fiscal year 2018, U.S. GAAP (as defined below) operating income was $129.5 million and U.S. GAAP diluted earnings per share was $0.21.
Second Quarter of Fiscal Year 2018 Highlights:
- Diversified Manufacturing Services (DMS) revenue growth: 38%
- Electronics Manufacturing Services (EMS) revenue growth: 7%
- Core operating income (Non-GAAP): $178.6 million
- Core diluted earnings per share (Non-GAAP): $0.66
“I’m pleased with the results of our second quarter, which was characterized by strong revenue growth, core operating income expansion and healthy cash flow generation,” said CEO Mark Mondello. “Additionally, we invested in several key new programs, returned approximately $150 million to shareholders via our capital return program and successfully renewed 10-year senior notes at a more favorable rate. These activities, both operational and strategic, position us well as we remain focused on diversifying our earnings and cash flows,” he added.
Third Quarter of Fiscal Year 2018 Guidance:
- Net revenue: $4.75 billion to $5.05 billion
- U.S. GAAP operating income: $85 million to $135 million
- U.S. GAAP diluted earnings per share: $0.12 to $0.38 per diluted share
- Core operating income (Non-GAAP): $125 million to $165 million
- Core diluted earnings per share (Non-GAAP): $0.35 to $0.55 per diluted share
- Diversified Manufacturing Services: Increase revenue 10% year-on-year
- Electronics Manufacturing Services: Increase revenue 8% year-on-year
- Total company: Increase revenue 9% year-on-year
“Looking ahead to the second half of fiscal 2018, we expect the broad-based growth across both of our segments to continue as we approach $21 billion in revenue for the year. At the same time, we remain committed to delivering $1 billion in operating cash flows and core earnings per share of approximately $2.60 for the year,” added Mondello.
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. For more information, visit jabil.com.