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Jabil Circuit

Jabil is the third largest electronics manufacturing services (EMS) company with $19.5 bn revenue in LTM November 2017. Jabil provides outsourced manufacturing for other companies, as well as design, sourcing, and supply chain management. Diversified Manufacturing Services (DMS) was 43% of sales in LTM F1Q18. DMS provides engineered solutions and a focus on materials sciences and technologies. DMS includes Nypro (healthcare, packaging) and Green Point (mobility, consumer lifestyles, wearables). Electronics Manufacturing Services (EMS) was 57% of sales in LTM F1Q18. EMS includes businesses formerly reported in High Velocity, Enterprise & Infrastructure, and Industrial & Energy. EMS customers are primarily in the automotive, capital equipment, computing and storage, digital home, industrial and energy, networking and telecommunications, point of sale, and printing industries. Jabil has high customer concentration. Apple was 24% of sales in FY 2015-2017 and a 10%+ customer since FY 2012. BlackBerry was a 10%+ customer from FY09-FY13 and Cisco was a 10%+ customer from FY07-FY12. (08 Jan 2018)

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VEON: Using Wind Tre Proceeds for Tender Offer

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US IG Telco/Cable: Post-Earnings Publishing Recap

Worth Watching: 30 Jul 2018, 12:22 PM ET - US IG Telco/Cable: The week of July 23 brought a heavy earnings schedule, including the three IG telco and cable mega-issuers, Verizon, AT&T, and Comcast. Please see the following earnings notes for a summary of each company's 2Q18 earnings: Veriz ..

US IG Telco/Cable: Relative Value Update

Sector Analysis: 27 Jul 2018, 1:18 PM ET - On the heels of early earnings reports, we provide a relative value update on AT&T, Verizon, Comcast, Time Warner, and Charter IG.

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5G in Focus: Rome Was Not Wired in a Day

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Focused

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USD Relative Value: Euro Telecoms

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Jabil F2Q18: Downgrading to Market perform

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IG TMT: Tax Reform Impact Recap

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