Jabil Inc. has released its preliminary, unaudited financial results for the third quarter of fiscal year 2024, showing the company's ability to navigate a significant transformation despite challenges in various end-markets.
In the third quarter of fiscal year 2024, Jabil reported a net revenue of $6.8 billion. The U.S. GAAP operating income for the same period was $261 million, with U.S. GAAP diluted earnings per share at $1.06. On a non-GAAP basis, the core operating income was $350 million, and core diluted earnings per share stood at $1.89.
Looking ahead to the fourth quarter of fiscal year 2024, the company has provided an outlook of net revenue ranging from $6.3 billion to $6.9 billion. The estimated U.S. GAAP operating income for the upcoming quarter is expected to be between $285 million and $355 million. Similarly, the U.S. GAAP diluted earnings per share are projected to be in the range of $1.40 to $1.88 per diluted share. On a non-GAAP basis, the core operating income is anticipated to be between $365 million and $425 million, with core diluted earnings per share expected to range from $2.03 to $2.43 per diluted share.
For the full fiscal year 2024, Jabil anticipates net revenue of $28.5 billion, with a core operating margin of 5.6%. The company also aims to achieve core diluted earnings per share of $8.40 and generate more than $1 billion in adjusted free cash flow.
These figures demonstrate Jabil's performance and outlook, highlighting its ability to adapt to changing market dynamics and pursue strategic initiatives despite facing headwinds in certain end-markets. The market has reacted to these announcements by moving the company's shares -11.2% to a price of $112.1. If you want to know more, read the company's complete 8-K report here.
