Jabil Posts Fiscal Q1 Revenue Up 17%
ST. PETERSBURG, FL – Jabil reported fiscal first quarter 2019 net revenue of $6.5 billion, an increase of 16.5% year-over-year.
For the period ended Nov. 30, net income was $124.1 million, up 94.1% compared to the same period last year. Operating income was $216.7 million, up 48.7%.
“I’m extremely pleased with our outstanding first quarter results,” said CEO Mark Mondello. “The team continued to ramp challenging new programs in targeted markets and achieved double-digit growth through excellent operational execution. These strong results reflect record revenue, operating income and core EPS. The exceptional performance is proof our diversification strategy is working and delivering predictable returns.”
Electronics manufacturing services posted year-over-year revenue growth of 22%, while diversified manufacturing services’ revenue was up 10%.
“We expect this positive momentum to continue into our second quarter, driven by strength in end-markets like automotive, cloud, healthcare and 5G wireless. I’m also pleased the outlook for fiscal 2019 remains consistent, as we deliver value for shareholders through strong earnings growth and year-over-year increasing cash flows.”
Jabil expects fiscal second quarter net revenue between $5.8 billion and $6.4 billion, and operating income of $116 million to $168 million.
