Jabil Shares Fall On Lowered Outlook
Shares of Jabil Inc. (JBL), a manufacturing and supply chain solutions provider, are falling more than 10% Wednesday morning after the company lowered its first-quarter as well as full-year outlook.
Jabil now expects revenue to be in the range of $8.3 billion – $8.4 billion for the first quarter, slightly below the low end of its previously announced range.
Analysts on average, polled by Thomson-Reuters expect revenue of $8.74 billion for the quarter.
For fiscal 2024, revenue is now expected to be approximately $31 billion, down 7 percent from the midpoint of previous guidance. The consensus estimate stands at $33.7 billion.
JBL, currently at $116.59, has traded in the range of $64.74 – $141.38 in the last 1 year.
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