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Jabil profit misses consensus by 31.8% in fiscal Q2

Jabil Inc. said its normalized net income for the fiscal second quarter ended Feb. 29 came to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS climbed 11.2% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $77.6 million, an increase of 9.9% from $70.6 million in the year-earlier period.

The normalized profit margin rose to 1.8% from 1.6% in the year-earlier period.

Total revenue climbed on an annual basis to $4.40 billion from $4.31 billion, and total operating expenses grew from the prior-year period to $4.25 billion from $4.16 billion.

Reported net income rose 39.8% from the prior-year period to $79.3 million, or 41 cents per share, from $56.7 million, or 29 cents per share.