Jabil Inc - JBL STOCK NEWS

Jabil Inc. (NYSE: JBL) has acquired Mikros Technologies , a leader in liquid cooling solutions for thermal management. The acquisition, completed on October 1, aims to support the growing demand for liquid cooling in AI data centers. Mikros Technologies' expertise in thermal management and precision jetting solutions spans over 30 years.

The acquisition enhances Jabil's capabilities in managing intense thermal requirements for current and future products, focusing on energy efficiency and cost-effectiveness. Mikros' proprietary microchannel cold plate designs can cool over one kilowatt per square centimeter, complementing Jabil's portfolio of data center lifecycle solutions, semiconductor test equipment solutions, and energy and transportation solutions.

This strategic move positions Jabil to better serve cloud service providers, hardware OEMs, and liquid cooling solutions providers, while also exploring opportunities in other markets requiring advanced thermal management.

Jabil (NYSE: JBL) announced its fourth quarter and fiscal year 2024 results, reporting net revenue of $7.0 billion for Q4 and $28.9 billion for the fiscal year. The company achieved a U.S. GAAP operating income of $318 million in Q4 and $2.0 billion for the year. Core diluted EPS was $2.30 for Q4 and $8.49 for FY24. Jabil also generated over $1 billion in adjusted free cash flow and returned $2.5 billion to shareholders via buybacks. Looking ahead, Jabil projects Q1 FY25 net revenue between $6.3 billion and $6.9 billion, with core diluted EPS ranging from $1.65 to $2.05. For FY25, the company forecasts $27.0 billion in net revenue, a core operating margin of 5.4%, and core diluted EPS of $8.65. Additionally, Jabil announced a new $1 billion share repurchase authorization.

Jabil Inc. (NYSE: JBL) has announced an expansion of its silicon photonics capabilities to support the growing demands of hyperscalers and next-generation cloud and AI data centers. The company plans to introduce additional capabilities at its Ottawa, Canada site in Q4 2024 to support customers' advanced photonics packaging new product introductions (NPIs).

The NPI line will feature innovative capabilities such as fluxless flip-chip, fiber attachment, precise die bonding, and wire bonding. These advancements will support silicon photonics chip packaging, particularly in high-speed connectivity applications like co-packaged optics (CPO) and high-speed on-board connections.

Jabil continues to invest in next-generation silicon photonic technologies beyond 800G and 1.6T to support AI and cloud computing, focusing on optimized performance and reduced power consumption for modern data centers. The company will showcase its 800G LPO/LRO transceivers and in-progress 1.6T module at ECOC 2024 in Frankfurt, Germany, from Sept. 22–26.

Jabil Inc. (NYSE: JBL) has announced the release date for its fourth quarter and fiscal year 2024 financial results. The company will disclose its financials on Thursday, September 26, 2024, before the market opens. Following the release, Jabil will host a conference call and webcast at 8:30 a.m. ET to review the fiscal year 2024 results and outline strategic and financial priorities for fiscal year 2025.

Investors and analysts can access the call via U.S. dial-in at (877) 407-6184 or International at (201) 389-0877. A live audio webcast and accompanying slide presentation will be available on the Investor Relations section of Jabil's website. An archived replay of the webcast will be accessible after the call concludes.

Jabil Inc. (NYSE: JBL) has signed a Memorandum of Understanding (MoU) with the Tamil Nadu state government to expand operations in Tiruchirappalli, India. The agreement, signed in Chicago, aims to establish Jabil as a key manufacturing hub in India, complementing its existing facility in Pune, Maharashtra.

The expansion is expected to create jobs for local youth and foster a robust electronics supply chain in the region. M K Stalin, Chief Minister of Tamil Nadu, highlighted the move as a testament to the state's talent and infrastructure, reinforcing its position as a leader in advanced electronics and innovation.

Jabil has been recognized as an employer of choice, featuring on Fortune Magazine's World's Most Admired Companies list, IDG's CIO 100 award, and TIME's World's Best Companies.

Jabil Inc. (NYSE: JBL) has announced the appointment of CEO Michael Dastoor to its Board of Directors. This move follows Dastoor's recent promotion to CEO in May 2024. Executive Chairman Mark Mondello praised Dastoor's understanding of Jabil's business and culture, highlighting his potential as an invaluable addition to the Board.

Dastoor, who joined Jabil in 2000, has been instrumental in guiding the company through global market challenges and shaping its strategic direction. His appointment is seen as a natural progression of his leadership and impact on the company. Dastoor expressed his honor at joining the Board and his commitment to collaborating with other members to support Jabil's strategic direction and drive long-term shareholder value.

Jabil (NYSE: JBL) has announced a quarterly dividend of $0.08 per share of common stock. The dividend will be paid on September 4, 2024, to shareholders of record as of August 15, 2024. This announcement continues Jabil's tradition of paying consecutive quarterly cash dividends, which has been ongoing since May 15, 2006. The declaration of dividends demonstrates Jabil's commitment to returning value to shareholders and may be seen as an indicator of the company's financial health and confidence in its future prospects.

Jabil (NYSE: JBL) has reported preliminary unaudited financial results for Q3 of fiscal year 2024, noting substantial transformations including divestment of its Mobility business and growth in AI datacenters. Key figures include $6.8 billion in net revenue, $261 million in U.S. GAAP operating income, and $1.06 GAAP diluted EPS. Non-GAAP core operating income was $350 million, with $1.89 core diluted EPS. For Q4, Jabil projects $6.3-$6.9 billion in net revenue, $285-$355 million in GAAP operating income, and $1.40-$1.88 GAAP diluted EPS. Full-year forecasts include $28.5 billion in net revenue, 5.6% core operating margin, $8.40 core diluted EPS, and over $1 billion in adjusted free cash flow. CEO Mike Dastoor emphasized the company's solid positioning in various growth sectors like datacenter power, electric vehicles, and healthcare.

Fabrinet (NYSE: FN), a key player in optical packaging and manufacturing, has appointed Forbes Alexander to its Board of Directors, expanding the board to eight members. Alexander will join the Board’s Audit Committee and brings significant executive and financial expertise, having previously held leadership roles at Jabil (NYSE: JBL) and other technology firms. His extensive background includes positions in finance and board memberships at various high-profile companies. Both Tom Mitchell, Chairman, and Seamus Grady, CEO of Fabrinet, praised Alexander's EMS industry experience and financial acumen as valuable assets for the company's growth and leadership. Alexander expressed enthusiasm about contributing to Fabrinet's ongoing success and reputation in the EMS industry.