ST. PETERSBURG, FL – Jabil reported fiscal second quarter net revenue of $6.1 billion, up 1% year-over-year.

Net loss for the quarter ended Feb. 29 was $2.6 million, compared to net income of $67.6 million in the same quarter last year. Operating income was $90.6 million, a decrease of 41.1%.

“After a stronger than expected start to the fiscal quarter, our factories were adversely impacted by workforce and supply chain disruptions associated with Covid-19,” said CEO Mark Mondello. “First and foremost, the safety and well-being of our people is our number one priority. Despite the near-term financial setback, our long-term strategy remains unchanged.”

Second quarter expenses directly associated with business interruption caused by Covid-19 were approximately $53 million.

For the six months ended Feb. 29, net revenue was $13.6 billion, up 8.4% year-over-year. Net income was $38.1 million, down 80.1%. Operating income was $243.4 million, down 34.3%.

Jabil’s 2020 guidance did not anticipate the impact of a global pandemic. As a result, given the rapidly changing situation, the firm is withdrawing its previous guidance until further notice.

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