A Florida electronics manufacturing company has boosted its yearly financial projections Wednesday, citing increased business from artificial intelligence data center infrastructure needs.
Jabil, headquartered in St. Petersburg, Florida, saw its stock price climb 1.1% in early trading after announcing second-quarter results that exceeded analyst predictions.
The company has benefited from increased investment in data center infrastructure as businesses seek more computing capacity to power AI applications.
“Continued momentum in intelligent infrastructure, where demand remains robust across cloud and data center infrastructure, networking and communications, and capital equipment” drove the strong performance, according to Jabil CEO Mike Dastoor.
Dastoor noted that regulated sectors also showed improvement, with automotive and renewable energy divisions performing better than anticipated.
The manufacturer produces components for Apple and offers design, manufacturing and management services across multiple industries including technology, automotive, transportation, healthcare, storage and packaging.
Jabil has revised its fiscal 2026 revenue projection upward to $34 billion from the previous estimate of $32.4 billion. The company also increased its adjusted earnings per share forecast to $12.25 from the earlier prediction of $11.55.
Wall Street analysts had expected annual revenue of $32.71 billion and adjusted earnings per share of $11.67, based on LSEG data.
For the second quarter, Jabil reported adjusted earnings per share of $2.69, surpassing analyst expectations of $2.51.
The company’s second-quarter revenue increased 23% compared to the same period last year, reaching $8.28 billion and beating Wall Street projections of $7.74 billion.
