08:34 AM EDT, 03/15/2024 (MT Newswires) -- Jabil ( JBL ) reported fiscal Q2 non-GAAP earnings Friday of $1.68 per diluted share, down from $1.88 a year earlier.

That result matched the average estimate of analysts polled by Capital IQ.

Net revenue for the quarter ended Feb. 29 was $6.77 billion, down from $8.13 billion a year earlier.

Analysts surveyed by Capital IQ expected $6.93 billion.

The electronic components company said it expects fiscal Q3 non-GAAP diluted EPS in the range of $1.65 to $2.05. Analysts polled by Capital IQ expect $2.13. Net revenue for the quarter is expected in the range of $6.20 billion to $6.80 billion. Analysts surveyed by Capital IQ expect $7.39 billion.

Jabil ( JBL ) said it now expects fiscal 2024 non-GAAP diluted EPS of $8.40. That compares with more than $9 per share previously. Analysts polled by Capital IQ expect $8.98. Net revenue for the current fiscal year is now projected to be $28.50 billion, the company said. That compares with its previous guidance of $31 billion. Analysts surveyed by Capital IQ expect $30.48 billion.

Shares of the company were down nearly 10% in recent Friday premarket activity.

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