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Jabil Circuit Down 10.15% To $52.60 After Earnings Beat

Thursday, June 16, 2022 02:47 PM | InvestorsObserver Analysts

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Jabil Circuit Down 10.15% To $52.60 After Earnings Beat

Jabil Inc (JBL) surpassed earnings projections on 6/16/2022 for Q3 2022.

The consensus among analysts for Jabil Circuit was for an earnings per share (EPS) of $1.62. The firm was able to surpass those projections, reporting an EPS of $1.72, a positive surprise of $0.1 (6%). Profits rose 32% year-over-year after reporting an EPS of $1.30 in its year-ago quarter. The positive growth rate signals that the Technology company is performing well amid recent economic conditions.

Consensus analyst estimates were at $8.2 billion. The Technology company managed to surpass those expectations for its third quarter with revenue of $8.3 billion, a positive revenue surprise of $108 million (1%). The firm managed 15% growth year-over-year due to Jabil Circuit reporting quarterly revenue of $7.2 billion in its year-ago quarter. Jabil Circuit achieved a higher earnings growth rate than revenue, signaling that the business has improved its profit margin.

The stock is down 10.15% to $52.60 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Jabil Circuit has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 75, putting Jabil Circuit in the top 25% of stocks. The firm set a 52-week low on March 8, 2022 at $52.43 and set a 52-week high on December 29, 2021 at $72.11.

Jabil Inc is a United States-based company engaged in providing manufacturing services and solutions. It provides comprehensive electronics design, production and product management services to companies in various industries and end markets. It operates in two segments. The Electronics Manufacturing Services (EMS) segment, which is the key revenue driver, is focused on leveraging IT, supply chain design and engineering, technologies largely centered on core electronics. The Diversified Manufacturing Services (DMS) segment is focused on providing engineering solutions, with an emphasis on material sciences, technologies, and healthcare.

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