Jabil Inc (NYSE: JBL) reported Q4 FY23 revenue of $8.46 billion, missing the consensus estimate of $8.54 billion.
Segments: Diversified Manufacturing Services (DMS) revenue remained consistent, and Electronics Manufacturing Services (EMS) revenue declined by 13% Y/Y.
Jabil’s adjusted EPS of $2.45 beat the consensus of $2.32.
The company held $1.80 billion in cash and cash equivalents at the end of FY23.
The company’s Board of Directors amended and boosted the current share repurchase program to $2.5 billion from approximately $776 million available as of August 31, 2023.
“The team delivered yet another solid year and I’m pleased with the progress we’ve made relative to our financial objectives. As we move into the new fiscal year, I feel strongly that we have the right team, capabilities, and diversified portfolio to support good momentum into FY24 and beyond. And none of this would be possible, without our thriving and unified Jabil culture, which is as strong today as it’s ever been,” stated CEO Kenny Wilson.
Outlook: Jabil sees Q1 revenue of $8.4 billion-$9.0 billion vs. the consensus of $9.18 billion.
Jabil sees adjusted EPS of $2.40-$2.80 vs. the consensus of $2.33.
Also Read: Jabil Sells Mobility Business To BYD for $2.2B
Price Action: JBL shares are trading higher by 11.40% at $117.17 on the last check Thursday.
