Jabil Circuit (NYSE: JBL) reported Q3 EPS of $0.46, $0.01 better than the analyst estimate of $0.45. Revenue for the quarter came in at $5.4 billion versus the consensus estimate of $4.9 billion.

Third Quarter of Fiscal Year 2018 Highlights:

• Net revenue: $5.4 billion
• Diversified Manufacturing Services (DMS) Year-on-year revenue growth: 36 percent
• Electronics Manufacturing Services (EMS) Year-on-year revenue growth: 12 percent
• U.S. GAAP operating income: $113.0 million
• U.S. GAAP diluted earnings per share: $0.25
• Core operating income (Non-GAAP): $150.1 million
• Core diluted earnings per share (Non-GAAP): $0.46

“Our team achieved a strong third quarter characterized by solid revenue growth and core margin expansion, year-on-year, while navigating a challenging components market,” said CEO Mark Mondello. “Our DMS segment grew by 36 percent, well-ahead of expectations, and posted meaningful income growth on a yearly basis. Similarly, our EMS segment grew both revenue and earnings by double-digits during the quarter. Most importantly, these results reflect one of our most diversified earnings performances in recent memory giving us confidence in both our enterprise-level strategy and outlook,” he added.

“Based on our strong year-to-date results and the guidance we’re providing today for the fourth fiscal quarter, we now expect fiscal 2018 revenue and core earnings per share growth of 14 percent and 23 percent, respectively, as we deliver on our core earnings per share target of $2.60. Additionally, given the confidence we have in delivering $3.00 per share in fiscal 2019 and the value we see in our business, we’ve elected to increase and extend our capital return framework through fiscal 2019. This updated capital return framework now perfectly aligns with the final portion of our three-year strategic plan, and reflects management’s confidence to generate additional cash flows on top of our desired investments for the business,” added Mondello.

GUIDANCE:

Jabil Circuit sees Q4 2018 EPS of $0.56-$0.80, versus the consensus of $0.70. Jabil Circuit sees Q4 2018 revenue of $5.2-5.6 billion, versus the consensus of $5.21 billion.

For earnings history and earnings-related data on Jabil Circuit (JBL) click here.