Jabil Posts Third Quarter 2018 Results

Jabil Inc. reported preliminary, unaudited financial results for its third quarter of fiscal year 2018. The company reported net revenue of $5.4 billion, US GAAP operating income of $113.0 million and US GAAP diluted earnings per share of $0.25.
 
“Our team achieved a strong third quarter characterized by solid revenue growth and core margin expansion, year-on-year, while navigating a challenging components market,” said CEO Mark Mondello. “Our DMS segment grew by 36%, well-ahead of expectations, and posted meaningful income growth on a yearly basis. Similarly, our EMS segment grew both revenue and earnings by double-digits during the quarter. Most importantly, these results reflect one of our most diversified earnings performances in recent memory giving us confidence in both our enterprise-level strategy and outlook.”
 
“Based on our strong year-to-date results and the guidance we’re providing today for the fourth fiscal quarter, we now expect fiscal 2018 revenue and core earnings per share growth of 14% and 23%, respectively, as we deliver on our core earnings per share target of $2.60,” added Mondello.
 
Jabil is also announcing that its Board of Directors has authorized an additional share repurchase program for the purchase of up to $350 million in Jabil common stock. The share repurchase authorization expires on Aug. 31, 2019. The shares will be repurchased from time-to-time through various methods.