Jabil Again Boosts FY22 Outlook - Update

(RTTNews) - While reporting preliminary, unaudited financial results for the third quarter on Thursday, Jabil Inc. (JBL) raised its core earnings and revenue guidance for the full-year 2022, based on solid demand in key areas of its business. The company also provided financial outlook for the fourth quarter.

For fiscal 2022, the company now projects core earnings of about $7.45 per share on revenues of about $32.8 billion. Previously, the company expected core earnings of about $7.25 per share on revenues of about $32.6 billion.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $7.25 per share on revenues of $32.67 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects earnings in a range of $1.78 to $2.18 per share and core earnings in a range of $1.94 to $2.34 per share on net revenues between $8.1 billion and $8.7 billion.

The Street is currently looking for earnings of $2.01 per share on revenues of $8.27 billion for the quarter.