Jabil Posts Third Quarter Results
ST. PETERSBURG, Fla.–(BUSINESS WIRE)– Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its third quarter of fiscal year 2024.
“It’s clear that Jabil has navigated a period of significant transformation this fiscal year: a year in which we divested our Mobility business, captured growth in the AI datacenter space, and experienced softness across multiple end-markets,” said CEO Mike Dastoor. “Despite these moving pieces, we remain on track to deliver 5.6% in core margins and $8.40 of core diluted EPS in FY24, while generating more than $1 billion in adjusted free cash flow. At the same time, we’ve been working towards our commitment to repurchase $2.5 billion of our shares. And importantly, in the mid-to-longer-term we remain well-positioned to benefit from many of the world’s powerful trends in areas like datacenter power and cooling, electric and hybrid vehicles, healthcare and pharma solutions, semi-cap equipment, and automated warehousing to name a few,” he concluded.
Third Quarter of Fiscal Year 2024 Highlights:
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• Net revenue: $6.8 billion |
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• U.S. GAAP operating income: $261 million |
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• U.S. GAAP diluted earnings per share: $1.06 |
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• Core operating income (Non-GAAP): $350 million |
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• Core diluted earnings per share (Non-GAAP): $1.89 |
Fourth Quarter of Fiscal Year 2024 Outlook:
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• Net revenue |
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$6.3 billion to $6.9 billion |
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• U.S. GAAP operating income |
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$285 million to $355 million |
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• U.S. GAAP diluted earnings per share |
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$1.40 to $1.88 per diluted share |
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• Core operating income (Non-GAAP)(1) |
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$365 million to $425 million |
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• Core diluted earnings per share (Non-GAAP)(1) |
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$2.03 to $2.43 per diluted share |
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(1) |
Core operating income and core diluted earnings per share exclude anticipated adjustments of $12 million for amortization of intangibles (or $0.09 per diluted share) and $18 million for stock-based compensation expense and related charges (or $0.14 per diluted share) and $50 million to $40 million (or $0.40 to $0.32 per diluted share) for restructuring, severance and related charges. |
Fiscal Year 2024 Outlook:
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• Net revenue |
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$28.5 billion |
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• Core operating margin (Non-GAAP) |
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5.6% |
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• Core diluted earnings per share (Non-GAAP) |
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$8.40 per diluted share |
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• Adjusted free cash flow (Non-GAAP) |
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$1+ billion |
