Standard of Excellence: Anticipating Customer Needs Early and Often
The Knowledge Base: At the Forefront of Electronics Manufacturing
Global Citizenship: Training the Next Generation of Talent
Jabil Updates Fiscal 2024 Outlook
November 29, 2023 | JabilEstimated reading time: 1 minute
Jabil Inc. announced it is updating its outlook for fiscal 2024.
“During the final stretch of our first quarter, we experienced softening in demand, as a result of short-term inventory corrections across certain end-markets where we participate,” said CEO Kenny Wilson.
Jabil now expects revenue to be in the range of $8.3 billion - $8.4 billion for the first fiscal quarter, slightly below the low end of its previously announced range, while the outlook for core earnings per share during the quarter is expected to be near the midpoint of the range provided on September 28, 2023.
Jabil expects this inventory rebalancing to continue into its second fiscal quarter and as a result anticipates revenue for the second quarter to be in the range of $7.0 billion - $7.6 billion.
For fiscal 2024, revenue is now expected to be approximately $31 billion, down 7 percent from the midpoint of previous guidance, while the company’s outlook for core operating margin is expected to be within the previously provided guidance range of 5.3% - 5.5%, which will result in core earnings per share in excess of $9.00 for fiscal 2024.
“Over the past several years we have intentionally structured the company to be more reliable throughout a range of economic cycles. As a result, we expect Jabil’s profitability to be more resilient, despite softer demand. This provides yet another proof point of Jabil’s improved ability to navigate an economic downturn. Importantly, we continue to expect to deliver more than $1 billion in adjusted free cash flow for the year and we remain committed to our previously discussed share repurchase strategy,” continued Wilson.
Share on:
Suggested Items
Transition Automation to Showcase Expanding Line of Permalex Squeegee Products at IPC APEX EXPO
03/07/2025 | Transition AutomationTransition Automation, Inc. (TA) is exhibiting a full product range of Permalex Edge Metal Squeegees and Holder systems at this year’s IPC APEX EXPO
IDENTCO to Showcase Specialized Labels and Presenters for Electronics Component Production at IPC APEX
02/26/2025 | IDENTCOIDENTCO – a manufacturer of high-performance labeling solutions for the power equipment, electronics, transportation, and general industrial sector – will showcase its robust range of solutions for printed circuit boards (PCBs) and electronic components at IPC APEX Expo.
US Marine Corps, L3Harris Launch First Long-Range Precision Fire in Training Range Demonstration
02/18/2025 | L3 TechnologiesThe U.S. Marine Corps successfully demonstrated an L3Harris Technologies (NYSE: LHX) solution for long-range precision fires from a vertical takeoff and landing (VTOL) platform using an AH-1Z helicopter at Yuma Proving Grounds, Arizona. This demonstration marks the first successful engagement of a target from a VTOL platform at previously untouchable ranges.
RTX's Raytheon Completes 10 Subsystem Demonstrations for U.S. Army's Next-Generation Short-Range Interceptor Program
02/18/2025 | RTXRaytheon, an RTX business, announced a series of 10 successful subsystem demonstrations for the U.S. Army's Next-Generation Short-Range Interceptor (NGSRI), which will eventually replace the Stinger® surface-to-air missile.
Sunny Kwok Joins Ventec as Technical Sales Representative for UK and EMEA
02/14/2025 | VentecVentec is pleased to announce the appointment of Sunny Kwok as Technical Sales Representative for UK and EMEA regions. Sunny will further enhance service support levels for Ventec full range of materials including non-reinforced resin coated copper and film products (thermal/Pro-bond), high speed/low loss (tec-speed) and Ventec’s full range of halogen free materials for high reliability applications.