Shares of telecom circuit board and equipment manufacturer Jabil (JBL) - Get Report rose Tuesday after the company reported fiscal fourth-quarter and full-year earnings that beat analysts' forecasts amid growth in the rollout of 5G and cloud-based services as well as in other segments.
The Tampa, Fla.-based company posted adjusted fiscal fourth-quarter earnings of $137.9 million, or 88 cents a share, vs. adjusted earnings of $118.2 million, or 70 cents a share, a year earlier. Analysts polled by FactSet had been expecting earnings of 87 cents a share.
Sales came in at $6.57 billion, up from $5.77 billion in the comparable year-earlier quarter though just shy of analysts' forecasts of $6.6 billion.
"As expected, our revenue was driven higher by targeted end-markets in the areas of 5G, cloud, energy and healthcare," Jabil CEO Mark Mondello said in a statement.
For its full fiscal year, Jabil said it earned $473.4 million, or $2.98 a share, vs. $458.5 million, or $2.62 a share, in fiscal 2018. Sales came in at $25.3 billion vs. $22.1 billion in the previous year.
"Looking ahead, we expect the positive momentum to continue as we remain committed to driving margin expansion and delivering strong cash flows, derived from a well-balanced stream of revenue," Mondello said.
For its first quarter of fiscal 2020, Jabil said it expects per-share earnings of between 82 cents and $1.04 on revenue of between $6.65 billion and $7.35 billion. Analysts polled by FactSet are currently expecting per-share earnings of 93 cents and sales of $6.69 billion.
Shares of Jabil were up 5.94%, or $1.86 a share, at $33.19.