ST. PETERSBURG, FL – Jabil beat revenue estimates for the May period, reporting preliminary fiscal third quarter net revenue of $6.3 billion, up 3.3% year-over-year. The net loss was $50.3 million, compared to net income of $44 million for the same quarter last year.

GAAP operating income for the period ended May 31 was $59.4 million, a decrease of 57.8% compared to the fiscal third quarter of 2019.

Electronics Manufacturing Services posted a year-over-year revenue decrease of 2%, while Diversified Manufacturing Services had year-over-year revenue growth of 13%.

“Our ability to deliver strong cash flows and solid revenue growth in the midst of a global pandemic suggests we’re doing something right,” said CEO Mark Mondello. “I want to offer my sincere appreciation to all those who work so hard to keep our people safe. The unique combination of efficiently operating our factories, and the strength of our well-diversified commercial portfolio, has allowed us to successfully navigate an extremely challenging macro environment.”

For the fiscal nine-month period ended May 31, net revenue was $20 billion, up 6.7% year-over-year. The firm posted a net loss of $12.1 million, compared to net income of $235.7 million for the same period last year. Operating income for the nine-month period was $302.8 million, down 40.8%.

The company expects fiscal fourth quarter net revenue between $5.8 billion and $6.6 billion and GAAP operating income from $79 million to $189 million.

Jabil anticipates fiscal fourth quarter net revenue will decrease 5%, with EMS revenue down 8% and DMS revenue up 1%.

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