Jabil Inc (NYSE:JBL) stock rose 3.52% (As on September 28, 11:53:52 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 22. By segments, Diversified Manufacturing Services (DMS) revenues in fiscal 2022 increased to $16.7 million from $15.4 million in fiscal 2021, while Electronics Manufacturing Services (EMS) revenues were up to $16.7 million from $13.9 million. In fiscal 2022, Jabil’s operating cash flow was $1,651 million compared with $1,433 million in fiscal 2021. As of Aug 31, 2022, the company had $1,478 million in cash and cash equivalents with $2,575 million of notes payable and long-term debt compared with respective tallies of $1,567 million and $2,878 million a year ago. The company has authorized a new share repurchase program worth $1 billion.  In FY ’22, fourth quarter cash flow from operations was $1.65 billion. For the quarter, inventory days came in at 79, down six days sequentially on improved working capital management by the team. Net capital expenditures for the fiscal year were $841 million or 2.5% of net revenue.

JBL in the fourth quarter of FY 22 has reported the adjusted earnings per share of $2.34, beating the analysts’ estimates for the adjusted earnings per share of $1.92, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 22 percent to $9.03 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $8.39 billion. Core operating income during the quarter was $447 million, an increase of 42% year over year, representing a core operating margin of 5%, up 80 basis points over the prior year driven by the aforementioned strength in certain end markets, slightly offset by unanticipated costs associated with the power shortages in Chengdu during the month of August.

Additionally, during the fourth quarter, the company had repurchased 3.8 million shares, bringing total shares repurchased in FY ’22 to 11.8 million shares of $696 million. To date, the company has utilized $737 million of the $1 billion authorization granted in July of last year

For first-quarter fiscal 2023, Jabil expects revenues between $9 billion and $9.6 billion. Operating income is estimated in the $367-$427 million range. The company’s non-GAAP earnings per share are expected to be between $2.00 and $2.40.