JABIL (JBL) Stock Surged In The Wake Of Favourable Q4 Earnings Results
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Summary:
- JBL beast market expectations for Q4 earnings results.
- Sales of diversified manufacturing increased 13%.
JABIL (JBL) Q4 earnings report
On Tuesday, contract manufacturer Jabil (JBL) easily surpassed Wall Street's expectations for the current quarter of its fiscal year. The announcement caused JBL stock to rise.
The St. Petersburg, Florida-based business reported adjusted earnings of $2.34 per share on $9.03 billion in revenue for the three months ended August 31. Jabil was predicted to report earnings of $2.15 per share on sales of $8.39 billion by analysts surveyed by FactSet. Jabil's earnings increased by 63% year over year while its sales increased by 22%.
Jabil forecast adjusted earnings of $2.20 per share on $9.3 billion in sales for the current quarter. On the midpoint of its guidance, that is based. Wall Street expected Jabil to report first-quarter fiscal earnings of $2.11 per share on sales of $8.93 billion. It generated $1.92 in profit per share on $8.57 billion in revenue during the same time last year. Jabil additionally disclosed plans to repurchase up to $1 billion worth of its stock.
According to IBD MarketSmith charts, JBL stock has established a cup-and-handle foundation with a purchase point of 65.98.
Electronics manufacturing services and diversified manufacturing services are Jabil's two business divisions. Equipment for 5G wireless, cloud computing, networking, data storage, industrial, and other applications is produced by the electronics manufacturing facility. The company's diverse production facility produces mobile, medical, automotive, and other gadgets.
Sales of diversified manufacturing increased 13% while sales of electronics manufacturing increased 32% year over year at Jabil.
According to IBD Stock Checkup, JBL stock is tied for first place out of 15 stocks in the electronics contract manufacturing business group. It gets a 98 out of 99 IBD Composite Rating. Regardless of industry sector, the Composite Rating compares a stock's main growth characteristics to all other companies.
Out of 197 industry groups that IBD monitors, the electronics contract manufacturing industry group comes in at number 33. JBL stock is also included in IBD's list of Tech Leaders stocks.
JBL Price Chart
Sources: finance.yahoo.com, investors.com
