By Senad Karaahmetovic
Jabil (NYSE:) is up over 4% in premarket trading after the manufacturing services company reported better-than-expected FQ4 results and FQ1 guidance.
Jabil an EPS of $2.34 on revenue of $9 billion to easily top the analyst consensus of $2.14 on sales of $8.39 billion.
For this quarter, the company is calling for EPS of $2.20 (at the midpoint of a range) on revenue of $9.3 billion (midpoint). This is easily better than the analyst estimates of $2.10 on revenue of $8.93 billion.
Moreover, the company’s board authorized up to a $1 billion share buyback program.
A Goldman Sachs analyst noted that “revenue upside was driven by the EMS segment, and partly offset by slightly lower DMS segment revenue.”
For Vital Knowledge analysts, results were “solid” while guidance is described as “robust.”