Jabil Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Jabil Inc. (JBL) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $194 million, or $1.47 per share. This compares with $223 million, or $1.61 per share, in last year's first quarter.

Excluding items, Jabil Inc. reported adjusted earnings of $343 million or $2.60 per share for the period.

Analysts on average had expected the company to earn $2.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.0% to $8.39 billion from $9.64 billion last year.

Jabil Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $194 Mln. vs. $223 Mln. last year. -EPS (Q1): $1.47 vs. $1.61 last year. -Analyst Estimates: $2.58 -Revenue (Q1): $8.39 Bln vs. $9.64 Bln last year.

-Guidance: Next quarter EPS guidance: $1.73 - $2.13 Next quarter revenue guidance: $7.0 - $7.6 Bln Full year EPS guidance: $9.00 Full year revenue guidance: $31 Bln