-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueMaterial Matters
Materials management is nuanced, multifaceted, and requires a holistic systems approach for business success. When building high mix, low volume, and high technology, managing materials and overall cost containment are even greater challenges.
Additive Manufacturing
In this month’s issue, we explore additive manufacturing technology for the PCB fabricator: where it stands today, the true benefits, and where it seems to be headed.
The Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Jabil Reiterates Fiscal Year 2024 Guidance
May 24, 2024 | JabilEstimated reading time: 1 minute
Jabil Inc. announced it is confirming its previously provided third quarter of fiscal year 2024 guidance for net revenue of $6.2 billion to $6.8 billion, U.S. GAAP operating income of $221 million to $301 million, U.S. GAAP diluted earnings per share of $0.82 to $1.38, core operating income of $325 million to $385 million, and core diluted earnings per share of $1.65 to $2.05. A reconciliation of U.S. GAAP to non-GAAP measures can be found on Form-8K filed on March 15, 2024.
“I’m pleased with how our team has executed this quarter under very dynamic market conditions. FY24 has been a year of change for Jabil, as we divested our Mobility business and plan to utilize most of the net proceeds to repurchase shares. Meanwhile, some of our end markets such as renewables, 5G, semi-cap, and electric vehicles have weakened,” said CEO Mike Dastoor.
“Even with all these moving parts, we feel confident that we will deliver core margins of 5.6% and core diluted earnings per share of $8.40 in FY24, while also generating more than $1 billion in adjusted free cash flow. All in all, to see our FY24 margins and free cash flow hold up in the face of lower volumes and revenue speaks to the strength of our business,” he added.
Fiscal 2025 Outlook:
Given the current visibility in certain end markets, along with the unanticipated CEO transition, the Company is withdrawing its previously provided fiscal year 2025 guidance.
“Despite short-term challenges, I remain optimistic about Jabil’s future, thanks to our talented team and the depth of our bench strength. We are in a good position to seize opportunities in secular growth areas like AI data center hardware, power and energy infrastructure, software-defined electric and hybrid vehicles, and healthcare. Our strong margins and free cash flow give me confidence in our ability to invest in profitable future growth and continue to return capital to shareholders,” Dastoor concluded.
Suggested Items
Incap Paid an Additional Earn-Out of $3M to the Sellers of Pennatronics
06/17/2024 | IncapIn July 2023, Incap acquired Pennatronics Inc., an electronics manufacturing services company located in Pennsylvania, USA. The acquisition agreement included a potential additional earn-out based on Pennatronics' EBITDA for the financial year ended March 2024.
Element Solutions Increases Q2, Full Year Guidance
06/17/2024 | Element Solutions Inc.Element Solutions Inc announced that it is raising its guidance range for the second quarter and full year 2024. ESI now expects adjusted EBITDA to be approximately $135 million in the second quarter and between $530 million and $545 million for the full year.
Q1 Smartphone Production Increases Due to Low Base Last Year, Expected to Decline 5–10% in Q2
06/14/2024 | TrendForceTrendForce reports that suppliers significantly reduced production targets in the first quarter of last year to address severe inventory accumulation in channels.
Rogers Announces Further Actions to Streamline Operations and Drive Margin Improvement
06/07/2024 | Rogers CorporationRogers Corporation announced plans to drive further operational efficiency and margin improvement. Rogers intends to wind down manufacturing of advanced circuit materials and other related activities at its Evergem, Belgium factory by mid-2025.
PC Shipments to the Middle East, Türkiye, and Africa See Growth, with AI-Enabled PCs Set to Shake Up the Market
06/05/2024 | IDCThe Middle East, Türkiye, and Africa (META) personal computing devices (PCD) market, which is made up of desktops, notebooks, and workstations, continued to exceed expectations in Q1 2024 with shipments increasing 12.2% year on year (YoY) to total 3.53 million units.