Jabil Updates Fiscal 2024 Outlook
Company to Present at Upcoming Conference
“During the final stretch of our first quarter, we experienced softening in demand, as a result of short-term inventory corrections across certain end-markets where we participate,” said CEO Kenny Wilson.
Jabil now expects revenue to be in the range of
Jabil expects this inventory rebalancing to continue into its second fiscal quarter and as a result anticipates revenue for the second quarter to be in the range of
For fiscal 2024, revenue is now expected to be approximately
“Over the past several years we have intentionally structured the company to be more reliable throughout a range of economic cycles. As a result, we expect Jabil’s profitability to be more resilient, despite softer demand. This provides yet another proof point of Jabil’s improved ability to navigate an economic downturn. Importantly, we continue to expect to deliver more than
Jabil to Present at Upcoming Conference:
As previously announced, Jabil will present at the UBS Global Technology Conference on Tuesday, November 28, 2023, at 4:15 PM MST (6:15 PM EST).
A live audio webcast and replay of the event will be accessible on the Jabil Investor Relations website at https://investors.jabil.com.
(Definitions: “U.S. GAAP” means
Forward Looking Statements: This release contains forward-looking statements, including those regarding our guidance for future financial performance for our first quarter of fiscal year 2024 (including revenue and core earnings per share), second quarter of fiscal year 2024 (revenues), full year 2024 (including revenue, core operating margin, core earnings per share and adjusted free cash flow) and our expectations with respect to stock repurchase activities. The statements in this release are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially from our current expectations. Such factors include, but are not limited to: scheduling production, managing growth and capital expenditures and maximizing the efficiency of our manufacturing capacity effectively; managing rapid declines or increases in customer demand and other related customer challenges that may occur; the scope and duration of the COVID-19 outbreak and its impact on our operations, sites, customers and supply chain; our dependence on a limited number of customers; our ability to purchase components efficiently and reliance on a limited number of suppliers for critical components; risks arising from relationships with emerging companies; changes in technology and competition in our industry; our ability to introduce new business models or programs requiring implementation of new competencies; competition; transportation issues; our ability to maintain our engineering, technological and manufacturing expertise; retaining key personnel; risks associated with international sales and operations, including geopolitical uncertainties in
About Jabil:
Jabil (NYSE: JBL) is a manufacturing solutions provider with over 250,000 employees across 100 locations in 30 countries. The world's leading brands rely on Jabil's unmatched breadth and depth of end-market experience, technical and design capabilities, manufacturing know-how, supply chain insights, and global product management expertise. Driven by a common purpose, Jabil and its people are committed to making a positive impact on their local community and the environment. Visit www.jabil.com to learn more.
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Investor Contact
Adam Berry
Vice President, Investor Relations
(727) 577-9749
adam_berry@jabil.com
Source: Jabil, Inc.