Stock in Jabil a large supplier of electronic parts, including to Apple fell hard on Thursday after management called out “softness” in several markets. The Florida-based company posted $1.89 per share in core adjusted earnings for its third fiscal quarter, ended in May, beating the consensus forecast of $1.85 among analysts tracked by FactSet who cover the stock. Jabil’s stock surged as much as 6.8% in premarket trading on Thursday, but fell shortly after an investor call with management to discuss the results.
Jabil (JBL) delivered earnings and revenue surprises of 2.16% and 3.98%, respectively, for the quarter ended May 2024. Do the numbers hold clues to what lies ahead for the stock?
ST. PETERSBURG, Fla., June 20, 2024--Today, Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its third quarter of fiscal year 2024.