Shares of Jabil Circuit Inc., an electronics-manufacturing service provider, fell the most in 18 months after the company’s fiscal third-quarter sales missed estimates.
The stock fell 7.4 percent to $22.52 at the close Thursday in New York. The shares have gained 3.2 percent this year.
Jabil reported on Wednesday that third-quarter revenue was $4.36 billion, falling short of the $4.46 billion average of analysts’ estimates, according to data compiled by Bloomberg. Earnings excluding certain items were 49 cents a share, meeting estimates.
The St. Petersburg, Florida-based company’s sales projection also fell short of estimates. Jabil forecast fourth-quarter revenue between $4.45 billion and $4.65 billion, while analysts had predicted $4.74 billion.