Jabil 10-Q Report – $6.8B Revenue, 20.2% Decrease

Jabil Inc. has recently released its 10-Q report, providing a comprehensive overview of its business operations and financial performance. The company operates in two segments, Electronics Manufacturing Services (EMS) and Diversified Manufacturing Services (DMS), offering a wide range of electronic design, production, and product management services to various industries and end markets.

In the recently reported period, Jabil's net revenue for the three months ended May 31, 2024, was $6.8 billion, a decrease of 20.2% compared to the same period in 2023. The gross profit for the same period was $608 million, representing 9.0% of net revenue. The company's operating income was $261 million, and the net income attributable to Jabil Inc. was $129 million, with basic earnings per share at $1.08.

Jabil's global manufacturing production sites, located in various countries including China, India, Malaysia, Mexico, Singapore, and the United States, contributed to its international operations accounting for 80.5% of net revenue for the three months ended May 31, 2024.

The company's EMS segment, which focuses on leveraging IT, supply chain design, and engineering technologies, accounted for 50% of net revenue, while the DMS segment, focused on providing engineering solutions with an emphasis on material sciences, technologies, and healthcare, accounted for the remaining 50%.

The report also highlighted key performance indicators such as the sales cycle, inventory turns, days in accounts receivable, days in inventory, and days in accounts payable, providing insights into the company's liquidity and working capital management.

Furthermore, Jabil's 10-Q report detailed the results of operations, including changes in net revenue, gross profit, selling, general and administrative expenses, research and development expenses, amortization of intangibles, and restructuring, severance, and related charges. The company's financial performance was impacted by various factors, including the divestiture of its mobility business, fluctuations in customer demand, and efforts to diversify certain portions of its business.

As a result of these announcements, the company's shares have moved 0.2% on the market, and are now trading at a price of $110.2. Check out the company's full 10-Q submission here.

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