Jabil Posts Solid Q1 Results

Reading time ( words)

Jabil Inc., reported preliminary, unaudited financial results for its first quarter of fiscal year 2023.

“Our Q1 FY23 performance was outstanding,” said Chairman and CEO Mark Mondello. “The combination of strong demand, more favorable product mix and excellent execution by the team allowed us to deliver $2.31 in core EPS on revenue of $9.6 billion for the quarter,” he added.

First Quarter of Fiscal Year 2023 Highlights:

  • Net revenue: $9.6 billion
  • Diversified Manufacturing Services (DMS) year-on-year revenue growth: 8 percent
  • Electronics Manufacturing Services (EMS) year-on-year revenue growth: 18 percent
  • U.S. GAAP operating income: $362 million
  • U.S. GAAP diluted earnings per share: $1.61
  • Core operating income (Non-GAAP): $461 million
  • Core diluted earnings per share (Non-GAAP): $2.31

Fiscal Year 2023 Updated Outlook:

“I remain confident in our plan moving forward, which is supported by both strong secular tailwinds and continued refinement of our more traditional businesses,” continued Mondello. “As a result, we are raising our core EPS for the year to $8.40, a twenty-five cent increase from our outlook at the beginning of the fiscal year," added Mondello.


Suggested Items

Prepare for Next-level Professional Development at IPC APEX EXPO 2023

01/19/2023 | Julia Gumminger, IPC
IPC APEX EXPO 2023 will offer a refreshed Professional Development Course program. This year’s conference includes something for everyone, including informative courses catering to technical managers ready to level up their careers. Thirty-six courses will be offered on Sunday, Jan. 22 and Monday, Jan. 23. Attendees will find both updated content from veteran instructors and innovative courses from new instructors.

The First India Pavilion

12/19/2022 | Gaurab Majumdar, IPC
For the first time, IPC APEX EXPO will host an “India Pavilion,” showcasing 16 Indian companies promoting India’s electronics manufacturing capabilities. The initiative was undertaken by the Ministry of Commerce & Industry, Government of India, and implemented by the Indian government agency, Electronics and Computer Software Export Promotion Council (ESC) India.

R&D Takes Back Seat Amidst Chip Shortage—But It Shouldn’t

12/08/2022 | Malcolm Thompson, NextFlex
As the global chip shortage continues, companies may be tempted to put research and development on the backburner to conserve capital and prioritize production. A primary area of focus has been on increasing production capabilities to meet demand. In this drive to increase capacity, R&D has fallen to the wayside as some companies consider scaling back to refocus on the expansion of manufacturing capacity at current technology nodes. This is a hard choice to make for any company, and even R&D giants like Apple, known for its dedicated investments in innovation, have had to cut R&D budgets below original projections.

Copyright © 2023 I-Connect007 | IPC Publishing Group Inc. All rights reserved.