ST. PETERSBURG, Fla.— Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its first quarter of fiscal year 2022.

“Our momentum continues, and I’m thrilled with our teams’ strong performance in Q1,” said Chairman and CEO Mark Mondello. “During the quarter, our financial results were supported by growth in key end-markets and successful management of a very dynamic supply chain environment. Our performance is illustrative of both the power of our talented workforce and the resiliency of our large-scale diversified model, which serves a broad range of end-markets today,” he added.

First Quarter of Fiscal Year 2022 Highlights:

Net revenue: $8.6 billion
Diversified Manufacturing Services (DMS) year-on-year revenue growth: 11 percent
Electronics Manufacturing Services (EMS) year-on-year revenue growth: 7 percent
U.S. GAAP operating income: $350 million
U.S. GAAP diluted earnings per share: $1.63
Core operating income (Non-GAAP): $400 million
Core diluted earnings per share (Non-GAAP): $1.92

Second Quarter of Fiscal Year 2022 Outlook:

• Net revenue	$7.1 billion to $7.7 billion
• U.S. GAAP operating income	$266 million to $326 million
• U.S. GAAP diluted earnings per share	$1.19 to $1.39 per diluted share
• Core operating income (Non-GAAP) (1)	$290 million to $350 million
• Core diluted earnings per share (Non-GAAP) (1)	$1.35 to $1.55 per diluted share

Fiscal Year 2022 Updated Outlook:

“Our commercial portfolio has been constructed to deliver reliable margins and strong free cash flows, and what we’re doing is working,” continued Mondello. “Given our strong start to the year, combined with our improved forecast, we now expect FY22 revenue will be $31.8 billion, while core EPS will increase to $6.55, up 20 cents from our outlook in September,” added Mondello.