Jabil Momentum Continues with Another Strong Year

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Jabil Inc., reported preliminary, unaudited financial results for its fourth quarter and fiscal year ended August 31, 2019.

 Fourth Quarter of Fiscal Year 2019 Highlights:

• Net revenue: $6.6 billion
• Diversified Manufacturing Services (DMS) year-on-year revenue growth: 2 percent
• Electronics Manufacturing Services (EMS) year-on-year revenue growth: 23 percent
• U.S. GAAP operating income: $189.7 million
• U.S. GAAP diluted earnings per share: $0.34
• Core operating income (Non-GAAP): $246.1 million
• Core diluted earnings per share (Non-GAAP): $0.88

 Fiscal Year 2019 Highlights:

• Net revenue: $25.3 billion
• Diversified Manufacturing Services (DMS) year-on-year revenue remained consistent
• Electronics Manufacturing Services (EMS) year-on-year revenue growth: 26 percent
• U.S. GAAP operating income: $701.4 million
• U.S. GAAP diluted earnings per share: $1.81
• Core operating income (Non-GAAP): $876.6 million
• Core diluted earnings per share (Non-GAAP): $2.98

"I’m thrilled with our FY19 results, highlighted by outstanding operational execution, strong free cash flow generation and double-digit core EPS growth," said CEO Mark Mondello. "As expected, our revenue was driven higher by targeted end-markets in the areas of 5G, cloud, energy and healthcare. Looking ahead, we expect the positive momentum to continue as we remain committed to driving margin expansion and delivering strong cash flows, derived from a well-balanced stream of revenue," added Mondello.

Capital Return Update

As part of a two-year capital allocation framework, Jabil’s Board of Directors has authorized a share repurchase program of up to $600 million in Company common stock. The shares will be repurchased from time-to-time through various methods, including open market repurchases, at the Company's discretion and subject to market conditions and other factors.

About Jabil

Jabil is a manufacturing solutions provider that delivers comprehensive design, manufacturing, supply chain and product management services. Leveraging the power of over 200,000 people across 100 sites strategically located around the world, Jabil simplifies complexity and delivers value in a broad range of industries, enabling innovation, growth and customer success. For more information, visit jabil.com.