Shares of Jabil Circuit (NYSE: JBL) fell more than 4% after it reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $2.31 on revenue of $9.63 billion. Both metrics beat expectations of $2.25 per share and $9.323 billion, respectively.
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Looking forward, management expects revenue and adjusted EPS for Q2 to be in the ranges of $7.8 billion to $8.4 billion and $1.64 to $2.04, respectively. For reference, analysts were expecting $7.98 billion in revenue and adjusted EPS of $1.83.
Overall, Wall Street analysts have a consensus price target of $77.67 on JBL stock, implying 11.85% upside potential, as indicated by the graphic above.
