Jabil Inc (NYSE: JBL) stock fell 0.11% (As on March 17, 11:26:03 AM UTC-4, Source: Google Finance) after the company reported solid second-quarter fiscal 2023 results, beating the bottom- and top-line estimates. Diversified Manufacturing Services (DMS) revenues increased 8% year over year while revenues from Electronics Manufacturing Services (EMS) were up 7%, with both segments contributing about 50% to the total revenues. Non-GAAP operating income aggregated $391 million compared with $344 million in the prior-year period, primarily due to top-line improvement. For the first six months of fiscal 2023, Jabil’s generated $580 million net cash from operating activities compared with $200 million in the prior-year period. As of Feb 28, 2023, the company had $1,200 million in cash and cash equivalents with $2,577 million of notes payable and long-term debt. JBL in the second quarter of FY 23 has reported the adjusted earnings per share of $1.88, beating the analysts’ estimates for the adjusted earnings per share by 4 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 8 percent to $8.13 billion in the second quarter of FY 23, beating the analysts’ estimates for revenue of $8.09 billion. For third-quarter fiscal 2023, Jabil expects revenues to be in the range of $7.9 billion and $8.5 billion. Non-GAAP operating income is estimated in the $363-$423 million range. Management anticipates non-GAAP earnings per share within the band of $1.70-$2.10. Analysts polled by Capital IQ are expecting $1.89. Jabil also said it expects fiscal 2023 revenue of $34.50 billion. Analysts polled by Capital IQ are expecting $34.51 billion. Meanwhile, the company announced that its photonics business unit is expanding its design, manufacturing, and testing capabilities, culminating in the launch of a new Active Optical Cable (AOC) family. As a result, Jabil is uniquely positioned to address the rapid pace of advancements in optics-enabled network and data center architectures while supporting the continuing surge of artificial intelligence (AI), cloud, high-performance computing (HPC), and machine learning (ML) applications. Jabil will be showcasing its advanced photonics solutions at OFC’23 in San Diego (Booth #3425). Through its photonics business unit, Jabil empowers organizations to reduce the complexities of developing and deploying enhanced optical networking solutions by offering complete photonics capabilities and competencies encompassing component design, system assembly, and streamlined supply chain management. To that end, Jabil is expanding its large-scale manufacturing and advanced photonics packaging capabilities, including die bonding, flip chip, ball attachment, and fiber alignment. These extended capabilities complement Jabil’s design and manufacturing of optical modules, subsystems, and photonics solutions.

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