Aaron McDade
1 min read
In This Article:
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Jabil shares jumped 11% Tuesday morning to lead gainers on the S&P 500.
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The circuit board maker's fiscal third-quarter results topped estimates and the firm lifted its full-year forecasts.
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The stock hit a new record high of $202.82.
Jabil (JBL) stock surged to a record high and led S&P 500 gainers on Tuesday morning, after the circuit board maker's fiscal third-quarter results topped estimates and the firm lifted its full-year projections.
Revenue rose nearly 16% year-over-year to $7.83 billion, well above the $7.04 billion analyst consensus compiled by Visible Alpha. "Core," or adjusted, earnings per share came in at $2.55, also better than projections.
"Our Intelligent Infrastructure segment remains a critical growth engine, benefiting from accelerating AI-driven demand," CEO Mike Dastoor said. "Despite softness in areas like [electric vehicles], Renewables, and 5G, our diversified portfolio and operational discipline have us tracking toward record core earnings per share."
Jabil lifted its full-year outlook to $29 billion in revenue and $9.33 in core EPS from $27.9 billion and $8.95, respectively. For the fourth quarter, it expects revenue of $7.1 billion to $7.8 billion and core EPS of $2.64 to $3.04, with the midpoints of both metrics above Visible Alpha consensus.
Jabil shares were up more than 11% in recent trading at $201.84 after earlier setting a new all-time high at $202.82.
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