Jabil Reports Strong Financial Results

By Bobby Samwell • Thursday, September 26 07:55 • Permanent Link

Jabil Inc. (NYSE: JBL) has reported its preliminary, unaudited financial results for the fourth quarter and fiscal year ended August 31, 2024. The company's net revenue for the fourth quarter was $7.0 billion, with U.S. GAAP operating income of $318 million and U.S. GAAP diluted earnings per share of $1.18. On a non-GAAP basis, the core operating income for the same period was $401 million, and core diluted earnings per share stood at $2.30.

For the entire fiscal year 2024, Jabil reported net revenue of $28.9 billion. The U.S. GAAP operating income was $2.0 billion, with U.S. GAAP diluted earnings per share of $11.17. On a non-GAAP basis, the core operating income was $1.6 billion, and core diluted earnings per share was $8.49.

Looking ahead, for the first quarter of fiscal year 2025, Jabil expects net revenue to be in the range of $6.3 billion to $6.9 billion. The projected U.S. GAAP operating income is expected to be between $143 million and $223 million, while the U.S. GAAP diluted earnings per share are forecasted to be in the range of $0.26 to $0.83 per diluted share. On a non-GAAP basis, the core operating income is anticipated to be between $304 million and $364 million, and the core diluted earnings per share is expected to be in the range of $1.65 to $2.05 per diluted share.

For the entire fiscal year 2025, Jabil has forecasted net revenue of $27.0 billion, with a non-GAAP core operating margin of 5.4% and core diluted earnings per share of $8.65 per diluted share. The company also expects adjusted free cash flow of $1.2 billion.

In addition to the financial results, Jabil announced a new $1 billion share repurchase authorization, reflecting the company's confidence in its future performance and commitment to delivering value to its shareholders.

The figures indicate a significant transformation for Jabil during fiscal year 2024, with the company navigating challenges in various end-markets while maintaining strong financial performance. As Jabil looks ahead to fiscal year 2025, the company remains optimistic about its positioning to capitalize on long-term trends in key sectors such as datacenter power and cooling, electric and hybrid vehicles, healthcare and pharmaceutical delivery solutions, semiconductor equipment, and warehouse automation. Today the company's shares have moved 0.5% to a price of $113.43. For more information, read the company's full 8-K submission here.

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