(Reuters) – Electronic components maker Jabil on Thursday beat fourth-quarter estimates and announced restructuring plans, including headcount reductions, sending its shares up as much as 10% in premarket trading.
The St. Petersburg, Florida-based company, which counts Apple as its customer, makes electronic components such as circuit board assemblies and systems that cater to the automotive, cloud and commercial drones, trucks and bus markets.
Jabil said it would reduce headcount in some divisions as part of its restructuring plan, but did not provide any number.
The company expects to record about $150 million to $200 million in pre-tax restructuring and other related costs over the fiscal year 2025.
While Jabil faced short-term demand challenges in certain end-markets, it said it was well-positioned to capitalize on the trends in industries ranging from datacenter power and cooling to electric and hybrid vehicles in the mid-to-long term.
The company’s revenue for the quarter ended Aug. 31 stood at $6.96 billion, down nearly 18% over the year earlier but above LSEG estimates of $6.58 billion.
On an adjusted basis, Jabil earned $2.30 per share for the quarter, also ahead of analysts’ average estimate of $2.20.
The company forecast its net revenue for the fiscal 2025 at $27 billion, compared with analysts’ estimate of $28.5 billion.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Shilpi Majumdar)
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