Jabil Q2 Recap: 8% Revenue Growth Backed By DMS, EMS Segments, Plus FY23 Revenue Outlook

Jabil Inc (NYSE: JBL) reported second-quarter FY23 revenue growth Thursday of 7.7% year-on-year to $8.13 billion, beating the consensus estimate of $8.09 billion.

Segments: Diversified Manufacturing Services (DMS) revenue grew 8% Y/Y. Electronics Manufacturing Services (EMS) revenue improved by 7% Y/Y.

Jabil's non-GAAP EPS of $1.88 beat the consensus of $1.85.

Jabil held $1.2 billion in cash and equivalents.

"The Jabil team delivered another outstanding quarter, highlighted by excellent operational execution and solid revenue growth," said Chairman and CEO Mark Mondello. "Our diversified portfolio allowed us to successfully navigate a very dynamic macro environment and deliver robust year-on-year financial results," he added.

Outlook: Jabil sees Q3 revenue of $7.90 billion-$8.5 billion versus the consensus of $8.14 billion.

Jabil sees non-GAAP EPS of $1.70-$2.10 versus the consensus of $1.88.

For FY23, the company expects revenue of $34.5 billion versus the consensus of $34.51 billion.

JBL Price Action: JBL shares were trading down 0.41% at $80 premarket Thursday.