Jabil Sees Profit Hit From Coronavirus

Apple supplier Jabil Inc said on Tuesday that its second-quarter earnings will be hit by the coronavirus epidemic.

The coronavirus outbreak, which has resulted in more than 2,600 deaths in mainland China, has pushed a number of companies including the iPhone maker to warn of a profit hit as they grapple with disruptions in the global supply chain.

Jabil said its factories were running at roughly 65%-70% capacity as the epidemic continues to spread. The company is estimated to report revenue of $6.33 billion in the second quarter, according to IBES data from Refinitiv.―CNBC