BUZZ-Jabil shares fall on warnings of slow EV demand in US and Europe

Reuters
Sep 25
BUZZ-Jabil shares fall on warnings of slow EV demand in US and Europe

** Shares of electronic components maker Jabil JBL.N fall 6.2 % to $210.98

** Co flags slow demand for EV adoption in the U.S. and Europe as short-term headwinds, while automotive and renewable segments face pressure in regulated industries, in a call with analysts

** However, co expects FY adjusted EPS of $11, above estimates of $10.83 and FY rev of $31.3 bln, above estimates of $30.75 bln - data compiled by LSEG

** Co also expects Q1 adjusted EPS between $2.47 and $2.87, above analyst consensus of $2.40 and revenue between $7.7 billion and $8.3 billion, above consensus of $7.52 billion

** As of Wed's close, Jabil stock had risen 57.7% YTD, outperforming the broader S&P 500-Electronic Equipment, Instruments & Components (Industry) index <.SPLRCELEQ>, which had risen 43.01%

(Reporting by Simone Lobo in Bengaluru)

((Simone.Lobo@thomsonreuters.com, +919920570373))

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