ST. PETERSBURG, FL – Jabil reported fiscal third quarter net revenue of $7.2 billion, an increase of 13.9% year-over-year.

For the quarter ended May 31, net income was $170 million, compared to a net loss of $50.3 million in the prior year period. Operating income was $239.8 million, up 303.8% year-over-year.

“Our third quarter performance was outstanding,” said CEO Mark Mondello. “The combination of strong demand and excellent execution by the team allowed us to deliver $277 million in core operating income on revenue of $7.2 billion.”

Electronics manufacturing services had year-over-year revenue growth of 8%, while diversified manufacturing services saw revenue growth of 21%.

For the nine months ended May 31, net revenue was $21.9 billion, up 9.6% year-over-year. Net income was $523.4 million, compared to a net loss of $12.1 million in the same nine-month period in 2020. Operating income was $790.1 million, an increase of 160.9% year-over-year.

For the fiscal fourth quarter, Jabil expects net revenue between $7.3 billion and $7.9 billion and US GAAP operating income between $242 million and $302 million.

“I’m confident in our plan. As a result, we are raising our financial outlook for the balance of the year. We now expect full-year 2021 revenue to be in the neighborhood of $29.5 billion, with core EPS of approximately $5.50.”