Why Jabil Stock Popped Today
Shares of Jabil (NYSE: JBL) were up 19% as of 2:27 p.m. ET Thursday after the manufacturing giant announced better-than-expected quarterly earnings and encouraging forward-earnings guidance.
For its fiscal fourth quarter ended Aug. 31, 2023, Jabil's revenue declined 6.3% year over year to $8.458 billion, translating to adjusted (non-GAAP) earnings of $2.45 per share. Analysts, on average, were anticipating lower earnings of $2.32 per share but on slightly higher revenue of $8.54 billion.
Within Jabil's top line, diversified manufacturing services (DMS) segment revenue was roughly consistent with the same year-ago period, while electronics manufacturing services (EMS) sales declined 13%.
Source Fool.com
