Jabil Boosts FY22 Outlook - Update

(RTTNews) - While reporting preliminary, unaudited financial results for its second quarter on Wednesday, Jabil Inc. (JBL) raised its core earnings and revenue guidance for the fill-year 2022, based on strong secular tailwinds and momentum in many of its end-markets. The company also provided financial outlook for the third quarter.

For fiscal 2022, the company now projects core earnings of about $7.25 per share on revenues of about $32.6 billion. Previously, the company expected core earnings of about $6.55 per share on revenues of about $31.8 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.62 per share on revenues of $31.85 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company expects earnings in a range of $1.24 to $1.64 per share and core earnings in a range of $1.40 to $1.80 per share on net revenues between $7.9 billion and $8.5 billion.

The Street is currently looking for earnings of $1.46 per share on revenues of $7.71 billion for the quarter.