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Jabil Posts Second Quarter 2023 Results

Reports net revenue of $8.1 billion, U.S. GAAP operating income of $359 million.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Jabil Inc. reported preliminary, unaudited financial results for its second quarter of fiscal year 2023.

“The Jabil team delivered another outstanding quarter, highlighted by excellent operational execution and solid revenue growth,” said chairman and CEO Mark Mondello. “Our diversified portfolio allowed us to successfully navigate a very dynamic macro environment and deliver robust year-on-year financial results,” he added.

Second Quarter of Fiscal Year 2023 Highlights:
• Net revenue: $8.1 billion
• Diversified Manufacturing Services (DMS) year-on-year revenue growth: 8%
• Electronics Manufacturing Services (EMS) year-on-year revenue growth: 7%
• U.S. GAAP operating income: $359 million 
• U.S. GAAP diluted earnings per share: $1.52
• Core operating income (Non-GAAP): $391 million 
• Core diluted earnings per share (Non-GAAP): $1.88

Third Quarter of Fiscal Year 2023 Outlook:
• Net revenue: $7.9 billion to $8.5 billion 
• U.S. GAAP operating income: $336 million to $396 million 
• U.S. GAAP diluted earnings per share: $1.50 to $1.90 per diluted share 
• Core operating income (Non-GAAP) (1): $363 million to $423 million 
• Core diluted earnings per share (Non-GAAP) (1): $1.70 to $2.10 per diluted share 
      
“I remain confident in both our plan moving forward and with the momentum underway across our business,” said incoming Jabil CEO Kenny Wilson. “For the fiscal year, we now believe the team will deliver 4.9% core operating margin on $34.5 billion in revenue.”

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