Jabil Inc. (NYSE: JBL) on Wednesday reported fiscal third-quarter revenue and earnings that top analysts’ estimates and gave a strong fourth quarter guidance.
The electronics manufacturer said adjust earnings were 31 cents per share in the fiscal third quarter, beating analysts’ estimate by 2 cents. Revenue rose 4.2 percent to $4.49 billion. Analysts polled by FactSet had expected revenue of $4.4 billion.
Jabil’s shares rose more than 5 percent in extended hours on Wednesday. But it erased it gains in the early trading on Thursday and it is down 3 percent at 12:41 p.m. EDT.
“I’m pleased with our third quarter results as both business segments performed quite well,” said CEO Mark Mondello. “In Diversified Manufacturing Services, the team delivered exceptional execution and cost controls against product road maps exhibiting massive scale and complexity, while we continued to see strong double-digit growth in healthcare and packaging. At the same time, our Electronics Manufacturing Services team continues to do an excellent job building broad revenue diversification, while developing end-market domain expertise, resulting in solid margin expansion,” he added.
The company also gave a strong revenue guidance for the fourth quarter. It forecast net revenue to be $4.7 billion to $5.1 billion, compared with consensus estimates of $4.79 billion.