What were Jabil's fiscal 2024 results?

For the fiscal year ended August 31, 2024, Jabil reported net revenue of $28.9 billion, U.S. GAAP operating income of $2.0 billion, U.S. GAAP diluted EPS of $11.17, core operating income (Non-GAAP) of $1.6 billion, and core diluted EPS (Non-GAAP) of $8.49. These results are preliminary and unaudited.

What is the 2025 Restructuring Plan and what will it cost?

The Board approved the plan on September 24, 2024, to align the support infrastructure through headcount reductions in SG&A and manufacturing and capacity realignment. Jabil expects $150 million to $200 million in pre-tax restructuring and related costs during fiscal 2025, with net cash expenditures of $100 million to $130 million payable over fiscal 2025 and 2026. Timing and cost categories are not finalized.

What guidance did Jabil provide for fiscal 2025?

For fiscal 2025, Jabil expects net revenue of $27.0 billion, a core operating margin of 5.4%, core diluted EPS of $8.65, and adjusted free cash flow of $1.2 billion. For the first quarter of fiscal 2025, it expects net revenue of $6.3 billion to $6.9 billion and core diluted EPS of $1.65 to $2.05.

What capital return actions did Jabil announce?

The Board authorized a share repurchase program of up to $1 billion of common stock, to be executed from time to time in the open market or by other methods, subject to market conditions. In fiscal 2024, Jabil returned $2.5 billion to shareholders via buybacks, per the company's CEO.

JBL 8-K: Earnings & Results & Financial Events

01—Abstract

Summary

Summary of the 8-K filed September 26, 2024. Cited figures are marked; the original filing is the authoritative source.

Jabil Inc. (NYSE: JBL) reported preliminary, unaudited results for its fourth quarter and fiscal year ended August 31, 2024, in a press release furnished as Exhibit 99.1.

For the fiscal year, net revenue was $28.9 billion^a, U.S. GAAP operating income was $2.0 billion, U.S. GAAP diluted EPS was $11.17, core operating income (Non-GAAP) was $1.6 billion, and core diluted EPS (Non-GAAP) was $8.49. For the fourth quarter, net revenue was $7.0 billion, U.S. GAAP diluted EPS was $1.18, and core diluted EPS (Non-GAAP) was $2.30. The company cited the sale of its Mobility business, growth in the AI datacenter sector, and challenges in multiple end-markets during the year.

The U.S. GAAP full-year results include a pre-tax gain of $942 million^b from the divestiture of businesses. Jabil also approved a 2025 Restructuring Plan on September 24, 2024, to align its support infrastructure through headcount reductions across SG&A and manufacturing cost base and capacity realignment. The company expects approximately $150 million to $200 million in pre-tax restructuring and other related costs over fiscal 2025, with net cash expenditures of approximately $100 million to $130 million payable over fiscal 2025 and 2026.

Timing and cost categories are not finalized and remain subject to employee consultation and statutory requirements. For guidance, Jabil expects first-quarter fiscal 2025 net revenue of $6.3 billion to $6.9 billion^c and core diluted EPS of $1.65 to $2.05, and full-year fiscal 2025 net revenue of $27.0 billion, core operating margin of 5.4%, core diluted EPS of $8.65, and adjusted free cash flow of $1.2 billion. The Board also authorized a share repurchase program of up to $1 billion of common stock.

02—Key points

Key Highlights

FY2024 net revenue of $28.9 billion, with U.S. GAAP operating income of $2.0 billion and U.S. GAAP diluted EPS of $11.17.
FY2024 core diluted EPS (Non-GAAP) of $8.49 and core operating income (Non-GAAP) of $1.6 billion; Q4 core diluted EPS was $2.30.
Fiscal 2024 included a pre-tax gain of $942 million from the divestiture of businesses, tied to the sale of the Mobility business; the gain remains subject to post-closing adjustments.
New 2025 Restructuring Plan expected to cost $150 million to $200 million pre-tax in fiscal 2025, with $100 million to $130 million in net cash expenditures over fiscal 2025 and 2026.
FY2025 outlook: net revenue of $27.0 billion, core operating margin of 5.4%, core diluted EPS of $8.65, and adjusted free cash flow of $1.2 billion.
Q1 FY2025 outlook: net revenue of $6.3 billion to $6.9 billion and core diluted EPS of $1.65 to $2.05.
Board authorized a share repurchase program of up to $1 billion of common stock; the company returned $2.5 billion to shareholders via buybacks in FY2024.

03—Questions

Frequently Asked Questions

What were Jabil's fiscal 2024 results?
For the fiscal year ended August 31, 2024, Jabil reported net revenue of $28.9 billion, U.S. GAAP operating income of $2.0 billion, U.S. GAAP diluted EPS of $11.17, core operating income (Non-GAAP) of $1.6 billion, and core diluted EPS (Non-GAAP) of $8.49. These results are preliminary and unaudited.
What is the 2025 Restructuring Plan and what will it cost?
The Board approved the plan on September 24, 2024, to align the support infrastructure through headcount reductions in SG&A and manufacturing and capacity realignment. Jabil expects $150 million to $200 million in pre-tax restructuring and related costs during fiscal 2025, with net cash expenditures of $100 million to $130 million payable over fiscal 2025 and 2026. Timing and cost categories are not finalized.
What guidance did Jabil provide for fiscal 2025?
For fiscal 2025, Jabil expects net revenue of $27.0 billion, a core operating margin of 5.4%, core diluted EPS of $8.65, and adjusted free cash flow of $1.2 billion. For the first quarter of fiscal 2025, it expects net revenue of $6.3 billion to $6.9 billion and core diluted EPS of $1.65 to $2.05.
What capital return actions did Jabil announce?
The Board authorized a share repurchase program of up to $1 billion of common stock, to be executed from time to time in the open market or by other methods, subject to market conditions. In fiscal 2024, Jabil returned $2.5 billion to shareholders via buybacks, per the company's CEO.

04—Continue

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