RTTNews | Dec 16, 2021 08:53AM EST

08:52 Thursday, December 16, 2021 (RTTNews.com) - While reporting first-quarter results on Thursday, Jabil Inc. (JBL) has updated its outlook for the fiscal year. Given strong start to the year, combined with improved forecast, the company now expects fiscal 2022 revenue will be $31.8 billion, while core EPS will increase to $6.55, up 20 cents from the company's outlook in September.

Analysts polled by Thomson Reuters expect the company to report profit per share of $6.36 on revenue of $31.53 billion. Analysts' estimates typically exclude special items.

For the second quarter, the company estimates core earnings per share in a range of $1.35 to $1.55; and net revenue of $7.1 billion to $7.7 billion. Analysts expect the company to report profit per share of $1.43 on revenue of $7.37 billion.

First quarter core earnings per share increased to $1.92 from $1.60, last year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.80, for the quarter. Net income attributable to Jabil increased to $241 million from $200 million, a year ago. Earnings per share was $1.63 compared to $1.31.

First quarter net revenue increased to $8.57 billion from $7.83 billion, previous year. Analysts on average had estimated $8.29 billion in revenue.

Shares of Jabil were up 3% in pre-market trade on Thursday.

Read the original article on RTTNews ( https://www.rttnews.com/3249941/jabil-raises-fy22-earnings-guidance-q1-profit-tops-estimates.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved