Jabil Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Jabil Inc. (JBL) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $100 million, or $0.88 per share. This compares with $194 million, or $1.47 per share, in last year's first quarter.

Excluding items, Jabil Inc. reported adjusted earnings of $228 million or $2 per share for the period.

Analysts on average had expected the company to earn $1.88 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.6% to $6.994 billion from $8.387 billion last year.

Jabil Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $100 Mln. vs. $194 Mln. last year. -EPS (Q1): $0.88 vs. $1.47 last year. -Revenue (Q1): $6.994 Bln vs. $8.387 Bln last year.

-Guidance: Next quarter EPS guidance: $1.60 to $2 Next quarter revenue guidance: $6.1 to $6.7 Bln