ST. PETERSBURG, FL – Jabil reported fiscal first quarter net revenue of $7.8 billion, up 4.4% year-over-year.

For the period ended Nov. 30, net income was $201 million, an increase of 393.7% compared to the fiscal first quarter of 2020. Operating income increased 105.5% to $314 million.

Electronics manufacturing services year-over-year revenue decrease 4% during the quarter.

“I’m thrilled with the strong start to the fiscal year,” said CEO Mark Mondello. “Our unique positioning as a critical and trusted supplier for so many of the world’s leading brands is allowing us to benefit from powerful end-market trends. As a result, our team delivered record quarterly results for revenue, core operating income and core EPS. Importantly, these impressive results show that our multi-year strategy to create a more optimized commercial portfolio is working.”

For the fiscal second quarter, Jabil expects net revenue of $6.2 billion to $6.8 billion and US GAAP operating income of $173 million to $226 million.

“Given our strong start to the year, combined with our improved forecast, we now expect full year 2021 revenue will be in the neighborhood of $27.5 billion, while core margin and core EPS will increase to 4.1% and $4.60, respectively.”