Jabil Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Jabil Inc. (JBL) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $129 million, or $1.06 per share. This compares with $233 million, or $1.72 per share, in last year's third quarter.

Excluding items, Jabil Inc. reported adjusted earnings of $1.89 per share for the period.

Analysts on average had expected the company to earn $1.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.2% to $6.77 billion from $8.48 billion last year.

Jabil Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $129 Mln. vs. $233 Mln. last year. -EPS (Q3): $1.06 vs. $1.72 last year. -Revenue (Q3): $6.77 Bln vs. $8.48 Bln last year.

-Guidance: Next quarter EPS guidance: $2.03 - $2.43 Next quarter revenue guidance: $6.3 - $6.9 Bln Full year EPS guidance: $8.40 Full year revenue guidance: $28.5 Bln