Jabil Inc. Reports Strong Results for Fiscal Year 2024
Overview of Financial Performance
Today, Jabil Inc. (NYSE: JBL) announced its preliminary financial results for the fourth quarter and the entire fiscal year 2024. This period marked significant transformations within the company, including the sale of its Mobility business and notable growth in the AI datacenter sector.
Key Highlights from Q4 FY2024
During the fourth quarter of FY2024, Jabil achieved net revenue of $7.0 billion, with a GAAP operating income of $318 million. This translates to a GAAP diluted earnings per share (EPS) of $1.18, showcasing strong profitability for the quarter. Moreover, the company's core operating income, measured by Non-GAAP standards, stood at $401 million, resulting in a core diluted EPS of $2.30.
Diving Deeper into FY2024 Performance
For the entire fiscal year 2024, Jabil reported a net revenue of $28.9 billion, with a healthy GAAP operating income amounting to $2.0 billion. The GAAP diluted EPS for the year increased to $11.17. Moreover, measuring core operating income, the company generated $1.6 billion, leading to core diluted EPS of $8.49. Jabil also highlighted robust adjusted free cash flow exceeding $1 billion, reflecting its strong financial foundation.
Looking Ahead: First Quarter Outlook for FY2025
In its outlook for the first quarter of FY2025, Jabil anticipates net revenue ranging between $6.3 billion and $6.9 billion. The company expects GAAP operating income to fall between $143 million and $223 million, indicating sustained earnings growth. The predicted GAAP diluted EPS is estimated to be between $0.26 and $0.83, while core diluted EPS is projected to be between $1.65 and $2.05.
Fiscal Year 2025 Expectations
For the upcoming fiscal year, Jabil is expecting a net revenue of around $27.0 billion and anticipates a core operating margin of 5.4%. Furthermore, the company estimates core diluted EPS to reach approximately $8.65, underlining its commitment to shareholder value through efficient operational management and growth strategies.
Shareholder Returns and Capital Management
The Board of Directors of Jabil has authorized a share repurchase program worth up to $1 billion. This initiative reflects the company’s strategy to return value to shareholders and reinforce confidence in its long-term prospects.
About Jabil Inc.
Jabil (NYSE: JBL) is a leading manufacturing services provider, dedicated to delivering comprehensive solutions across various industries. With more than 50 years of experience, Jabil operates over 100 locations worldwide, offering a blend of innovative engineering and production capabilities. The company remains committed to sustainability while supporting operational agility to meet the demands of the ever-evolving market landscape.
Frequently Asked Questions
What were Jabil's total revenues for FY2024?
Jabil reported total revenues of $28.9 billion for FY2024.
What was Jabil's diluted EPS for Q4 FY2024?
The diluted EPS for Jabil in Q4 FY2024 was $1.18.
What strategic changes did Jabil undergo in FY2024?
Jabil sold its Mobility business and experienced growth in the AI datacenter sector during FY2024.
What is the outlook for Jabil in the first quarter of FY2025?
Jabil anticipates revenue of $6.3 billion to $6.9 billion in the first quarter of FY2025.
What is Jabil's plan for shareholder returns?
Jabil has authorized a share repurchase program of up to $1 billion to return value to its shareholders.
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