Jabil Posts Third Quarter Results

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Jabil Inc. reported preliminary, unaudited financial results for its third quarter of fiscal year 2023.

“Our business is in good shape and the Jabil team has executed well this year, in what has been a dynamic operating environment,” said CEO Kenny Wilson. “Our strong year-to-date performance is a testament to Jabil’s strengths, specifically our diversified end-market portfolio and worldwide connected factory network, which enables us to offer unique engineering, manufacturing, and supply chain solutions to our customers across the globe,” he added.

Third Quarter of Fiscal Year 2023 Highlights:

• Net revenue: $8.5 billion
• Diversified Manufacturing Services (DMS) year-on-year revenue growth: 13 percent
• Electronics Manufacturing Services (EMS) year-on-year revenue decline: 8 percent
• U.S. GAAP operating income: $375 million
• U.S. GAAP diluted earnings per share: $1.72
• Core operating income (Non-GAAP): $404 million
• Core diluted earnings per share (Non-GAAP): $1.99

Fourth Quarter of Fiscal Year 2023 Outlook:

• Net revenue - $8.2 billion to $8.8 billion
• U.S. GAAP operating income - $400 million to $460 million
• U.S. GAAP diluted earnings per share - $1.96 to $2.32 per diluted share
• Core operating income (Non-GAAP) - $424 million to $484 million
• Core diluted earnings per share (Non-GAAP) - $2.14 to $2.50 per diluted share

Fiscal Year 2023 Updated Outlook:

“I feel strongly that our solid execution will continue, as the team carries positive momentum into the final quarter of FY23,” said CEO Kenny Wilson. “For the fiscal year, we now believe the team will deliver $8.50 in core earnings per share on $34.7 billion in revenue,” added Wilson.