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Jabil Posts 4Q, Fiscal Year 2024 Results

Reports net revenue of $28.9 billion, U.S. GAAP operating income of $2 billion.

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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 fourth quarter and fiscal year ended Aug. 31, 2024.

“It’s evident that Jabil has undergone a substantial transformation this fiscal year: a year during which we sold our Mobility business, saw growth in the AI datacenter sector, and faced challenges in multiple end-markets,” said CEO Mike Dastoor.

“Despite these changes, we delivered core margins of 5.5% and $8.49 of core diluted EPS in FY24, while generating more than $1 billion in adjusted free cash flow,” Dastoor added. “Additionally, we returned $2.5 billion to shareholders via buybacks. While short-term demand is facing challenges in certain end-markets, we are confident that in the mid-to-long term, we are well-positioned to capitalize on secular trends in areas such as datacenter power and cooling, electric and hybrid vehicles, healthcare and pharmaceutical delivery solutions, semiconductor equipment, and warehouse automation.”

Fourth Quarter of Fiscal Year 2024 Highlights:
• Net revenue: $7.0 billion
• U.S. GAAP operating income: $318 million 
• U.S. GAAP diluted earnings per share: $1.18
• Core operating income (Non-GAAP): $401 million
• Core diluted earnings per share (Non-GAAP): $2.30
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Fiscal Year 2024 Highlights:
• Net revenue: $28.9 billion
• U.S. GAAP operating income: $2.0 billion
• U.S. GAAP diluted earnings per share: $11.17
• Core operating income (Non-GAAP): $1.6 billion
• Core diluted earnings per share (Non-GAAP): $8.49

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