Jabil Delivers Record Quarterly Results

Raises FY20 Outlook Based on Nice Start to the Year

ST. PETERSBURG, Fla.- Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its first quarter of fiscal year 2020.

“Our first quarter results reflect exceptional execution across all of our businesses,” said CEO Mark Mondello. “Our team delivered strong revenue and achieved our margin target, enabling us to drive core EPS well-above expectations,” he added.

First Quarter of Fiscal Year 2020 Highlights:

  • Net revenue: $7.5 billion
  • Diversified Manufacturing Services (DMS) year-on-year revenue growth: 3 percent
  • Electronics Manufacturing Services (EMS) year-on-year revenue growth: 26 percent
  • U.S. GAAP operating income: $152.8 million
  • U.S. GAAP diluted earnings per share: $0.26
  • Core operating income (Non-GAAP): $277.3 million
  • Core diluted earnings per share (Non-GAAP): $1.05

Second Quarter of Fiscal Year 2020 Outlook:

• Net revenue

$6.0 billion to $6.7 billion

• U.S. GAAP operating income

$70 million to $189 million

• U.S. GAAP diluted earnings per share

$0.09 to $0.40 per diluted share

• Core operating income (Non-GAAP) (1)

$155 million to $255 million

• Core diluted earnings per share (Non-GAAP) (1)

$0.62 to $0.82 per diluted share

• Diversified Manufacturing Services revenue

Increase 4 percent year-on-year

• Electronics Manufacturing Services revenue

Increase 5 percent year-on-year

• Total company revenue

Increase 5 percent year-on-year

Fiscal Year 2020 Updated Outlook:

“In September, we outlined a strategic plan that focused on providing world-class solutions for our customers and value for our shareholders through a better ‘mix and balance’ of business. Today, I’m pleased to report our strategy remains intact and our plan is working well, as reflected by our first quarter results,” added Mondello.

“Given the nice start to the year, we now believe FY20 revenue will be in the neighborhood of $26.7 billion, while our outlook for core EPS increases from $3.45 to $3.60,” continued Mondello
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(1) Core operating income and core diluted earnings per share exclude anticipated adjustments of $13.0 million for amortization of intangibles (or $0.08 per diluted share), $17.0 million for stock-based compensation expense and related charges (or $0.10 per diluted share), $45.0 million to $30.0 million for restructuring and related charges (or $0.29 to $0.20 per diluted share) and $10.0 million to $6.0 million for acquisition and integration charges (or $0.06 to $0.04 per diluted share).

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