Jabil (JBL) beats fourth-quarter earnings estimates on strong revenue

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Jabil Inc. JBL announced strong results for the fourth quarter of fiscal 2022, with year-over-year increases in revenue and profit thanks to the diligent execution of operating plans.

Quarter details

Non-GAAP earnings for the reported quarter were $329 million or $2.34 per share, compared to $216 million or $1.44 per share in the year-ago quarter. On a GAAP basis, quarterly profit increased to $315 million or $2.25 per share from $175 million or $1.16 per share a year earlier. Zacks’ consensus estimate for earnings was pegged at $1.92 per share.

Jabil, Inc. Price, Consensus and EPS Surprise

Jabil, Inc. price-consensus-eps-surprise-chart | Quote from Jabil, Inc.

The growth in net income was primarily driven by higher revenue, which rose to $9,030 million from $7,409 million a year ago, beating the consensus estimate of $8,393 million. Revenue performance was driven by solid demand in key end markets.

In fiscal 2022, GAAP earnings were $996 million or $6.90 per share on revenue of $33,478 million, compared to $696 million or $4.58 per share, respectively. on revenue of $29,285 million for fiscal year 2021.

By segments, Diversified Manufacturing Services (DMS) revenue in Fiscal 2022 increased to $16.7 million from $15.4 million in Fiscal 2021, while Electronic Manufacturing (EMS) rose to $16.7 million from $13.9 million.

Cash flow and liquidity

In fiscal 2022, Jabil’s operating cash flow was $1,651 million, compared to $1,433 million in fiscal 2021. As of August 31, 2022, the company had $1,478 million dollars in cash and cash equivalents with $2,575 million in notes payable and long-term debt compared to totaled $1,567 million and $2,878 million a year ago. The company authorized a new share buyback program worth $1 billion.

Tips

For the first quarter of fiscal 2023, Jabil expects revenue of between $9 billion and $9.6 billion. The operating profit is estimated between 367 and 427 million dollars. The company’s non-GAAP earnings per share are expected to be between $2.00 and $2.40.

Zacks Ranking and Stocks to Consider

Jabil currently has a Zacks rank of #3 (Hold). You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Ooma Inc. OOMA, carrying a Zacks Rank #2 (Buy), has generated a 28.6% profit surprise, on average, over the past four quarters. Ooma’s current-year earnings estimates are up 43.8% since March 2022.

Ooma provides communications services and related technologies for businesses and consumers in the United States and Canada. It helps create powerful connected experiences for businesses and consumers through its intelligent, cloud-based SaaS platform.

Spirent Communications plc SPMYY carries a Zacks rank of No. 2. Current year earnings estimates for the stock are up 10.8% since September 2021, while next year’s are up 11.8%.

Founded in 1936 and based in Crawley, UK, Spirent offers a complete end-to-end solution that validates forwarding performance, latency and functional capabilities in an integrated approach that lowers the cost of ownership. It is one of the leading providers of Ethernet validation solutions in the market.

Harmonic Inc. HLIT, sporting a No. 1 Zacks Rank, has posted a 79.3% profit surprise, on average, over the past four quarters. Harmonic’s earnings estimates for the current year are up 12.9% since February 2022.

Harmonic provides software, products, system solutions and video streaming services worldwide. With more than three decades of experience, it has revolutionized cable access networks with the industry’s first virtualized cable access solution, enabling cable operators to more flexibly deploy gigabit Internet service at the consumers’ homes and mobile devices.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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