03.15.24
Jabil Inc. reported preliminary, unaudited financial results for its second quarter of fiscal year 2024.
“Despite revenue headwinds this year, which are expected to be short-term, I’m pleased with the resiliency of our model and our team’s demonstrated ability to execute,” said CEO Kenny Wilson. “Even under these conditions, we expect to deliver strong core operating margins and free cash flow in FY24.”
Second quarter of fiscal year 2024 highlights included net revenue of $6.8 billion, US GAAP operating income of $1.1 billion, US GAAP diluted earnings per share of $7.31, core operating income (non-GAAP) of $338 million and core diluted earnings per share non-GAAP of $1.68.
For fiscal year 2024, the updated outlook is now $28.5 billion in net revenue, core operating margin (non-GAAP) of 5.6%, and adjusted free cash flow (non-GAAP) of $1+ billion.
“Fiscal year 24 was always going to be a transitional year for Jabil, one in which we successfully completed the largest transaction in the company’s history with the mobility sale, and the subsequent efforts by our teams to optimize our footprint and cost structure for the go-forward Company,” said CEO Kenny Wilson. “As I think about exiting this fiscal year as a more streamlined company, coupled with key opportunities across our diversi-fied end-market portfolio, I am confident in our ability to expand margins year-on-year, while also delivering core EPS of $10.65 for FY25.”
“Despite revenue headwinds this year, which are expected to be short-term, I’m pleased with the resiliency of our model and our team’s demonstrated ability to execute,” said CEO Kenny Wilson. “Even under these conditions, we expect to deliver strong core operating margins and free cash flow in FY24.”
Second quarter of fiscal year 2024 highlights included net revenue of $6.8 billion, US GAAP operating income of $1.1 billion, US GAAP diluted earnings per share of $7.31, core operating income (non-GAAP) of $338 million and core diluted earnings per share non-GAAP of $1.68.
For fiscal year 2024, the updated outlook is now $28.5 billion in net revenue, core operating margin (non-GAAP) of 5.6%, and adjusted free cash flow (non-GAAP) of $1+ billion.
“Fiscal year 24 was always going to be a transitional year for Jabil, one in which we successfully completed the largest transaction in the company’s history with the mobility sale, and the subsequent efforts by our teams to optimize our footprint and cost structure for the go-forward Company,” said CEO Kenny Wilson. “As I think about exiting this fiscal year as a more streamlined company, coupled with key opportunities across our diversi-fied end-market portfolio, I am confident in our ability to expand margins year-on-year, while also delivering core EPS of $10.65 for FY25.”