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May 31, 2024
Jabil Q3 2024 Earnings Report
Jabil's Q3 2024 financial results were reported, highlighting a period of transformation with strategic divestitures and growth in key areas amidst market softness.
Key Takeaways
Jabil reported Q3 2024 net revenue of $6.8 billion and GAAP diluted EPS of $1.06. The company is on track to deliver 5.6% in core margins and $8.40 of core diluted EPS in FY24, with over $1 billion in adjusted free cash flow.
Net revenue reached $6.8 billion.
GAAP operating income was $261 million.
GAAP diluted earnings per share stood at $1.06.
Core operating income (Non-GAAP) amounted to $350 million.
Jabil
Jabil
Forward Guidance
Jabil anticipates net revenue between $6.3 billion and $6.9 billion, GAAP operating income ranging from $285 million to $355 million, and GAAP diluted earnings per share between $1.40 and $1.88 for Q4 2024.
Positive Outlook
- Net revenue is projected to be between $6.3 billion and $6.9 billion.
- U.S. GAAP operating income is expected to range from $285 million to $355 million.
- U.S. GAAP diluted earnings per share is forecasted to be $1.40 to $1.88 per diluted share.
- Core operating income (Non-GAAP) is anticipated to be $365 million to $425 million.
- Core diluted earnings per share (Non-GAAP) is projected to be $2.03 to $2.43 per diluted share.
Challenges Ahead
- Anticipated adjustments include $12 million for amortization of intangibles.
- Stock-based compensation expense and related charges are expected to be $18 million.
- Restructuring, severance, and related charges are projected to be between $50 million and $40 million.
- These adjustments will impact core operating income and core diluted earnings per share.
- The adjustments translate to $0.09 per diluted share for amortization, $0.14 per diluted share for stock compensation, and $0.40 to $0.32 per diluted share for restructuring.