Jabil Profit Tops Estimates, Q3 Guidance Strong; Stock Up

(RTTNews) - Jabil Circuit Inc (JBL) on Wednesday reported second-quarter net earnings of $52 million or $0.27 per share compared with a loss of $38.7 million or $0.19 per share last year.

Excluding items, core earnings for the quarter were $0.50 per share compared with earnings of $0.10 per share a year ago.

On average, 11 analysts polled by Thomson Reuters estimated earnings of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 20 percent at $4.31 billion compared with $3.58 billion in the prior year. Nine analysts had a consensus revenue estimate of $4.27 billion for the quarter.

"I am extremely pleased with our strong operational performance during the quarter...We continue to have success in diversifying our business, which I believe will increase our resiliency during this time of ever-increasing change in the markets we serve," said CEO Mark Mondello.

For the third quarter, Jabil projects core earnings of $0.43 to $0.55 per share on revenues of $4.35 billion to $4.55 billion. Analysts expect earnings of $0.47 per share on revenues of $4.43 billion.

For the full year 2015, the company still expects core earnings of $1.85 to $2.15 per share on revenues of $17.5 billion to $18.5 billion. Analysts expect earnings of $2.03 per share on revenues of $18.01 billion.