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Jabil Inc. (NYSE: JBL) is a global manufacturing solutions provider, boasting a workforce of over 260,000 employees across 100 locations in 30 countries. The company is a trusted partner to some of the world's leading brands, leveraging its extensive end-market expertise, technical and design capabilities, manufacturing prowess, and supply chain insights. Jabil's core business revolves around offering comprehensive electronics design, production, and product management services that cater to various industries and end markets.
Jabil's operations are divided into two key segments:
- Electronics Manufacturing Services (EMS): This segment focuses on IT, supply chain design and engineering, and core electronics technologies. It is the primary revenue driver for Jabil.
- Diversified Manufacturing Services (DMS): This segment emphasizes engineering solutions, material sciences, and healthcare technologies.
In recent developments, Jabil has partnered with OpenLight, a leader in custom PASIC chip design and manufacturing, to streamline the back-end manufacturing ecosystem for Photonic Integrated Circuits (PICs). This collaboration aims to fast-track the production and delivery of integrated PICs, addressing the growing demand for faster data processing and overcoming supply chain complexities.
Jabil is committed to making a positive impact on local communities and the environment. The company combines its global reach with local expertise to deliver scalable and customized solutions, ensuring sustainable processes that minimize environmental impact and foster diverse communities worldwide.
Jabil (NYSE: JBL) has announced that it will release its financial results for the third quarter of fiscal year 2024 on June 20, 2024, before the market opens. The company will host a conference call and webcast at 8:30 a.m. ET to review these results. Investors and interested parties can dial in or access the live audio webcast and accompanying slide presentation through Jabil’s Investor Relations website. A replay of the webcast will be available after the call.
Jabil (NYSE: JBL) has announced advancements in its configure-to-order, high-performance server platform, introducing the J312-S and J322-S models. These servers, powered by 5th Gen Intel® Xeon dual socket processors, feature customizable, high-speed, and low-latency I/O options tailored for the financial services industry (FSI) demands. The servers ensure CPU and application synchronization with nanosecond precision, supporting high-frequency trading, market data ingestion, and quantitative research analysis. Jabil's servers also incorporate high-performance Smart Network Interface Cards (SmartNICs) and Precision Time Measurement (PTM) functionality. Future developments include proof-of-concept servers targeting pico-second precision. The offerings are part of Jabil's commitment to creating open, innovative server ecosystems based on OCP Data Center – Modular Hardware System (DC-MHS) specifications. Jabil will present these solutions at the STAC Summit on May 30th in Chicago.
Jabil (NYSE: JBL) reaffirmed its fiscal year 2024 guidance, projecting Q3 net revenue between $6.2 billion and $6.8 billion, U.S. GAAP operating income ranging from $221 million to $301 million, and a diluted EPS between $0.82 and $1.38. The core operating income is anticipated to be between $325 million and $385 million with a core diluted EPS from $1.65 to $2.05. Despite market challenges, Jabil expects to achieve core margins of 5.6% and a core diluted EPS of $8.40 for FY24, while generating over $1 billion in adjusted free cash flow. Due to uncertainties in certain markets and a CEO transition, the fiscal year 2025 guidance has been withdrawn. Jabil remains optimistic about future growth opportunities in sectors such as AI data centers, electric vehicles, and healthcare.
Jabil (NYSE: JBL) has announced significant leadership changes effective immediately. Michael Dastoor has been promoted from CFO and Interim CEO to Chief Executive Officer, succeeding Kenneth Wilson. Gregory Hebard, formerly Senior Vice President and Treasurer, is now the Chief Financial Officer. These changes follow a corporate policies investigation disclosed in April 2024, which has no impact on the company's financial statements. Additionally, Fred McCoy is the new Executive VP of Operations. Steve Borges returns as Executive VP of Global Business Units, while Matt Crowley and Andy Priestley are appointed Executive VPs of Global Business Units. These leadership transitions are expected to guide Jabil into its next growth phase.
Jabil (NYSE: JBL) has announced its participation in the upcoming J.P. Morgan Global Technology, Media and Communications Conference. This event is scheduled for Tuesday, May 21, 2024, at 8:10 AM EST. Interested parties can access a live audio webcast and replay on the Jabil Investor Relations website.
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