Jabil Q4 Profit Tops Estimates; Announces $1 Bln Share Repurchase Authorization

(RTTNews) - Jabil (JBL) reported preliminary fourth quarter net income attributable to company of $138 million compared to $155 million, last year. Earnings per share was $1.18 compared to $1.15. Core earnings declined to $270 million from $328 million. Core earnings per share was $2.30 compared to $2.45. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $2.22, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net revenue was $6.96 billion compared to $8.46 billion, previous year. Analysts on average had estimated $6.59 billion in revenue.

For the first quarter, the company expects: core earnings per share in a range of $1.65 - $2.05; and net revenue in a range of $6.3 billion - $6.9 billion. For fiscal 2025, the company expects: core earnings per share of $8.65; and net revenue of $27.0 billion.

The Board has authorized a share repurchase program of up to $1 billion in common stock. The shares will be repurchased from time-to-time using various methods.

Shares of Jabil are up 7% in pre-market trade on Thursday.

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