Jabil (JBL) Q2 Earnings Beat, Revenues Up On EMS Growth
Zacks Investment Research | Mar 14, 2019 11:35PM ET
Jabil, Inc. (NYSE:JBL) reported second-quarter fiscal 2019 earnings of 64 cents per share, which beat the Zacks Consensus Estimate by three cents but decreased 3% year over year.
Revenues increased 14.4% year over year to $6.07 billion that outpaced the Zacks Consensus Estimate of almost $6 billion.
At the end of the second quarter, new business award wins for fiscal 2019 are roughly $2.40 billion. Both healthcare and 5G wireless wins are up $50 million since fiscal 2018-end. Cloud is up 30-40% since the beginning of the fiscal year and automotive business wins met management’s target.
Moreover, during the quarter, Jabil transitioned the first two sites from Johnson & Johnson (NYSE:JNJ) Medical Devices Companies (JJMDC) as part of the previously announced strategic collaboration between the companies.
Quarter Details
Electronics Manufacturing Services (EMS) revenues (63% of total revenues) surged 33% year over year to $3 billion, driven by strength in retail, industrial, 5G and cloud end-markets.
Diversified Manufacturing Services (DMS) revenues (37% of revenues) decreased 7% year over year to $2.3 billion, primarily due to weak demand for mobility, which is part of Mechanics and Edge Devices & Accessories end-markets.
Jabil, Inc. Price, Consensus and EPS Surprise
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