Jabil Tops Q3 Backed By End-Market Portfolio, Factory Network; Boosts FY23 Outlook

Jabil Inc (NYSE: JBL) reported third-quarter FY23 revenue growth of 1.8% year-on-year to $8.48 billion, beating the consensus estimate of $8.20 billion.

Segments: Diversified Manufacturing Services (DMS) revenue grew 13% Y/Y. Electronics Manufacturing Services (EMS) revenue declined by 8% Y/Y.

Jabil's adjusted EPS of $1.99 beat the consensus of $1.87.

Jabil held $1.48 billion in cash and equivalents.

CEO Kenny Wilson said, "Our strong year-to-date performance is a testament to Jabil's strengths, specifically our diversified end-market portfolio and worldwide connected factory network, which enables us to offer unique engineering, manufacturing, and supply chain solutions to our customers across the globe."

Outlook: Jabil sees Q4 revenue of $8.2 billion-$8.8 billion versus the consensus of $8.57 billion.

Jabil sees non-GAAP EPS of $2.14-$2.50 versus the consensus of $2.30.

For FY23, the company expects revenue of $34.7 billion, up from the prior $34.5 billion versus the consensus of $34.54 billion. It expects $8.50 in adjusted EPS vs. consensus $8.37.

Price Action: JBL shares were trading flat at $99.69 premarket on the last check Thursday.