ST. PETERSBURG, FL – Jabil posted fiscal third quarter net revenue of $8.3 billion, up 15.4% year-over-year.

Electronics Manufacturing Services reported year-over-year revenue growth of 23%, while Diversified Manufacturing Services grew 7%.

For the quarter ended May 31, net income was $218 million, an increase of 28.2%. Operating income was $321 million, growth of 33.8% year-over-year.

“The effectiveness of our business model was on display during the third quarter, as the team delivered strong revenue and earnings results,” said chairman and CEO Mark Mondello. “Our diversified approach has been designed to be flexible and resilient as we aim to deliver for both our customers and stakeholders. During the quarter, I believe the team did an outstanding job rising to the challenge.”

For the nine-month period ended May 31, net revenue was $24.4 billion, up 11.8% year-over-year. Net income was $681 million, an increase of 30.2%. Operating income was $984 million, up 24.6%.

As of May 31, cash and cash equivalents were nearly $1.1 billion.

For the fiscal fourth quarter, Jabil expects net revenue between $8.1 billion and $8.7 billion. Operating income is expected to be between $367 million and $427 million.

“As we look ahead, we see solid demand in key areas of our business. Given this ongoing momentum, we now expect full-year 2022 revenue to be in the neighborhood of $32.8 billion and core EPS to be $7.45.”