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Omar Venerio
Omar Venerio
Articles (985) 

Jabil in Green Pre-Market Friday

The company surpasses estimates

December 15, 2017 | About:

U.S. stocks will open with gains on Friday and close the week with gains, as the major indexes are near record levels.

In Friday pre-market trading, Jabil Inc. (NYSE:JBL) was up on the back of the company reporting its financial results for the first quarter of fiscal 2018, ended Oct. 31. The company posted EPS of one cent on revenue of $5.59 billion. Revenues were higher than the figure reported a year earlier, with an increase of 9.6%. Moreover, Jabil managed to beat the EPS expectations by one cent, and in revenue it beat estimates by $90 million.

Mark Mondello. the company´s CEO, was pleased with the quarterly results. He said, “As expected, we saw solid revenue growth across both our DMS and EMS segments, resulting in 15 percent growth, year-on-year, of core earnings per share. The quarter is a great illustration of the strength and diversification across the company.”

Looking ahead, guidance is solid for the second quarter, with revenue from $4.75 billion to $5.05 billion (estimations: $4.74 billion) and EPS from 50 cents to 74 cents (estimations: 61 cents).

Gainers

• Under Armour Inc. (NYSE:UA)

• Foot Locker Inc. (FL)

• AmerisourceBergen Corp. (NYSE:ABC)

• Costco Wholesale Corp. (COST)

• Navient Corp. (NASDAQ:NAVI)

Losers

• CSX Corp. (NASDAQ:CSX)​

• Oracle Corp. (ORCL)

• Metlife Inc. (NYSE:MET)

• Mosaic (MOS)

• CF Industries Holdings Inc. (NYSE:CF)

Global Markets

The main European stock markets traded mostly lower. The U.K.'s FTSE gained 0.23%, while Spain's Ibex was down 0.25%, Germany's Dax closed down 0.01% and France's CAC retreated 0.33%.

In Asia, Japan's Nikkei closed down 0.62%, Hong Kong's Hang Seng fell 1.09% and China´s SSE Composite slid 0.80%, while India’s BSE Sensex inched up 0.65%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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