Financial Data and Key Metrics Changes - For Q4 2025, the company reported approximately $8.3 billion in revenue, exceeding guidance by roughly $800 million, with core operating income at $519 million and a core operating margin of 6.3%, a 50 basis point improvement year-over-year [8][9] - GAAP operating income totaled $337 million, with diluted earnings per share at $1.99 and core diluted earnings per share at $3.29 [8][9] - Full-year adjusted free cash flow was over $1.3 billion, with a healthy balance sheet showing a debt-to-core EBITDA ratio of 1.3 times and cash balances of approximately $1.9 billion [11][12] Segment Performance Changes - Regulated Industries revenue was $3.1 billion, with a year-over-year increase of approximately 3% and a core operating margin of 6.5% [9] - Intelligent Infrastructure revenue reached $3.7 billion, driven by strong demand in cloud and data center, with a core operating margin of 5.9% [9][10] - Connected Living and Digital Commerce revenue totaled $1.4 billion, reflecting a year-over-year decline of approximately 14%, but with a core operating margin of 6.6%, up 210 basis points year-over-year [10] Market Data and Key Metrics Changes - The company anticipates Regulated Industries revenue for Q1 FY26 to be $3.05 billion, up 3% year-on-year, while Intelligent Infrastructure is expected to grow approximately 47% year-on-year to $3.67 billion [13][14] - Connected Living and Digital Commerce revenue is expected to decline by 16% year-on-year to $1.29 billion, reflecting a strategic shift towards higher-margin opportunities [13][14] Company Strategy and Industry Competition - The company is focusing on system-level integration in Intelligent Infrastructure, leveraging AI-related growth across capital equipment, cloud, and data center markets [21][49] - In Regulated Industries, the strategy includes supporting automotive and healthcare sectors while navigating regulatory changes and market dynamics [16][48] - The Connected Living segment is transitioning away from lower-margin consumer products towards advanced technologies in automation and robotics [30][54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term growth in healthcare and AI-related sectors, despite short-term challenges in automotive and renewables [46][48] - The company expects overall revenue growth of approximately 5% for FY26, with core operating margins expanding to around 5.6% [55][56] - The focus remains on maintaining a strong balance sheet while returning about 80% of free cash flow to shareholders [56][58] Other Important Information - The company completed a $1 billion share repurchase authorization and has a new $1 billion program authorized for FY26 [12] - The anticipated new facility in North Carolina is set to come online in summer 2026, aimed at enhancing AI rack manufacturing capabilities [52] Q&A Session Summary Question: Growth areas in AI - The company expects 25% year-on-year growth in AI revenue, with significant growth in cloud and data center infrastructure, particularly in electrical switch gear [62][64] Question: Healthcare growth outlook - The company anticipates low to mid-single-digit growth in healthcare, driven by drug delivery systems and new business opportunities, despite delays in the Croatia facility impacting margins [63]

Group 1 - Jabil has issued a better-than-expected outlook for its current fiscal year [1]

Core Viewpoint - Jabil forecasts profit and revenue for fiscal year 2026 above Wall Street estimates, driven by an artificial intelligence boom in data centers [1] Group 1 - Jabil is an electronics component maker that is capitalizing on the growth of artificial intelligence [1] - The company's optimistic outlook reflects confidence in the increasing demand for data center solutions [1]

Financial Performance - Net revenue for the fourth quarter of fiscal year 2025 was $8252 million, compared to $6964 million in the same period last year[10] - Net revenue for fiscal year 2025 reached $29802 million, an increase from $28883 million in fiscal year 2024[10] - Core operating income (non-GAAP) for fiscal year 2025 was $1620 million, up from $1588 million in fiscal year 2024[10] - Adjusted free cash flow (non-GAAP) for fiscal year 2025 was $1318 million[14] - Share repurchases amounted to $1000 million for fiscal year 2025[14] Segment Results (Q4 FY2025) - Intelligent Infrastructure accounted for 45% of the total revenue[12] - Regulated Industries contributed 38% to the total revenue[12] - Connected Living & Digital Commerce generated 17% of the total revenue[12] FY26 Outlook - The company anticipates net revenue between $7700 million and $8300 million for the first quarter of fiscal year 2026[25] - Core diluted earnings per share (non-GAAP) are projected to be between $247 and $287 for the first quarter of fiscal year 2026[25] - The company forecasts net revenue of $313 billion and core operating margin of 56% for fiscal year 2026[80]

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) [Fiscal Year 2025 Performance Overview](index=1&type=section&id=Fiscal%20Year%202025%20Performance%20Overview) Jabil achieved a strong Fiscal Year 2025, marked by revenue growth, solid core margins, increased core diluted EPS, and robust free cash flow, driven by strong AI-driven demand offsetting pressures in Automotive and Renewables - CEO Mike Dastoor stated, "Fiscal 2025 was a strong year for Jabil as we grew revenue, delivered solid core margins, increased core diluted EPS, and generated robust free cash flow"[2](index=2&type=chunk) - Performance was driven by strength in **AI-driven demand** across capital equipment, data centers, and networking, combined with deliberate portfolio actions, offsetting pressures in Automotive and Renewables[2](index=2&type=chunk) | Metric | Value | | :----------------------------- | :---------------- | | Net revenue | $29.8 billion | | U.S. GAAP operating income | $1.2 billion | | U.S. GAAP diluted earnings per share | $5.92 | | Core operating income (Non-GAAP) | $1.6 billion | | Core diluted earnings per share (Non-GAAP) | $9.75 | [Fourth Quarter Fiscal Year 2025 Performance](index=1&type=section&id=Fourth%20Quarter%20Fiscal%20Year%202025%20Performance) Jabil reported strong financial results for the fourth quarter of Fiscal Year 2025, with significant year-over-year increases in net revenue, GAAP operating income, and core diluted earnings per share | Metric | Value | | :----------------------------- | :---------------- | | Net revenue | $8.3 billion | | U.S. GAAP operating income | $337 million | | U.S. GAAP diluted earnings per share | $1.99 | | Core operating income (Non-GAAP) | $519 million | | Core diluted earnings per share (Non-GAAP) | $3.29 | [Fiscal Year 2026 Outlook](index=1&type=section&id=Fiscal%20Year%202026%20Outlook) Jabil projects strong FY26 with increased revenue, improved core margins, higher core diluted EPS, and robust free cash flow, driven by AI and healthcare - CEO Mike Dastoor expects FY26 revenue of approximately **$31.3 billion**, core operating margins of **5.6%**, core diluted EPS of **$11.00**, and adjusted free cash flow greater than **$1.3 billion**[4](index=4&type=chunk) - Jabil is well-positioned for sustainable value creation with significant opportunities in **AI data center infrastructure**, **healthcare**, and advanced warehouse and retail automation[4](index=4&type=chunk) | Metric | Projection | | :----------------------------- | :---------------- | | Net revenue | $31.3 billion | | Core operating margin (Non-GAAP) | 5.6% | | Core diluted earnings per share (Non-GAAP) | $11.00 per diluted share | | Adjusted free cash flow (Non-GAAP) | $1.3+ billion | [First Quarter Fiscal Year 2026 Outlook](index=1&type=section&id=First%20Quarter%20Fiscal%20Year%202026%20Outlook) Jabil forecasts Q1 FY26 net revenue between $7.7 billion and $8.3 billion, with core diluted EPS $2.47 to $2.87 | Metric | Range | | :----------------------------- | :---------------- | | Net revenue | $7.7 billion to $8.3 billion | | U.S. GAAP operating income | $263 million to $343 million | | U.S. GAAP diluted earnings per share | $1.27 to $1.84 per diluted share | | Core operating income (Non-GAAP) | $400 million to $460 million | | Core diluted earnings per share (Non-GAAP) | $2.47 to $2.87 per diluted share | [Financial Statements](index=4&type=section&id=Financial%20Statements) [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Jabil's total assets increased to $18.543 billion, driven by higher accounts receivable and inventories, while total liabilities rose and stockholders' equity decreased | Metric | Aug 31, 2025 (Unaudited) | Aug 31, 2024 | Change (YoY) | | :---------------------------------- | :----------------------- | :------------- | :------------ | | Total assets | $18,543 million | $17,351 million | +$1,192 million | | Total liabilities | $17,026 million | $15,614 million | +$1,412 million | | Total Jabil Inc. stockholders' equity | $1,513 million | $1,737 million | -$224 million | - Key asset changes include an increase in accounts receivable, net (from **$3,533 million to $4,039 million**), inventories, net (from **$4,276 million to $4,681 million**), and goodwill and intangible assets, net (from **$804 million to $1,114 million**)[17](index=17&type=chunk) - Accounts payable significantly increased from **$6,190 million in FY24 to $7,937 million in FY25**[17](index=17&type=chunk) [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For FY25, Jabil reported a slight increase in net revenue to $29.802 billion, but GAAP operating income and net income significantly decreased, influenced by a divestiture loss versus prior year gain Fiscal Year Performance | Metric | FY25 (Unaudited) | FY24 | Change (YoY) | | :---------------------------------- | :--------------- | :----------- | :----------- | | Net revenue | $29,802 million | $28,883 million | +$919 million | | Gross profit | $2,646 million | $2,676 million | -$30 million | | Operating income | $1,182 million | $2,013 million | -$831 million | | Net income attributable to Jabil Inc. | $657 million | $1,388 million | -$731 million | | Diluted EPS | $5.92 | $11.17 | -$5.25 | Three Months Ended August 31 Performance | Metric | Q4 FY25 (Unaudited) | Q4 FY24 | Change (YoY) | | :---------------------------------- | :------------------ | :---------- | :----------- | | Net revenue | $8,252 million | $6,964 million | +$1,288 million | | Gross profit | $783 million | $663 million | +$120 million | | Operating income | $337 million | $318 million | +$19 million | | Net income attributable to Jabil Inc. | $218 million | $138 million | +$80 million | | Diluted EPS | $1.99 | $1.18 | +$0.81 | - The loss from the divestiture of businesses was **$53 million in FY25**, a significant shift from a gain of **$942 million in FY24**[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Jabil's net cash from operating activities slightly decreased in FY25 to $1.640 billion, while investing activities shifted to a net outflow of $714 million due to lower divestiture proceeds and increased acquisitions | Metric | FY25 (Unaudited) | FY24 | Change (YoY) | | :---------------------------------- | :--------------- | :----------- | :----------- | | Net cash provided by operating activities | $1,640 million | $1,716 million | -$76 million | | Net cash (used in) provided by investing activities | -$714 million | $1,351 million | -$2,065 million | | Net cash used in financing activities | -$1,204 million | -$2,668 million | +$1,464 million | | Net (decrease) increase in cash and cash equivalents | -$268 million | $397 million | -$665 million | - Proceeds from the divestiture of businesses, net of cash, decreased significantly from **$2,108 million in FY24 to $7 million in FY25**[21](index=21&type=chunk) - Cash paid for business and intangible asset acquisitions, net of cash, increased from **$90 million in FY24 to $392 million in FY25**[21](index=21&type=chunk) [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) [Explanation of Non-GAAP Measures](index=2&type=section&id=Explanation%20of%20Non-GAAP%20Measures) Jabil uses non-GAAP measures like core operating income and adjusted free cash flow to offer investors an alternative perspective on its core manufacturing operations, excluding certain U.S. GAAP items for comparable evaluation - Non-GAAP measures facilitate evaluation of Jabil's core operating performance, offering an additional method for assessing operating income, earnings, diluted EPS, and free cash flow from its core manufacturing operations[9](index=9&type=chunk)[10](index=10&type=chunk) - Management uses non-GAAP financial measures for operating decisions, assessing business performance, and as a factor in determining certain employee incentive compensation[10](index=10&type=chunk) - A normalized core tax rate is determined annually for non-GAAP income tax provision to ensure consistency across reporting periods, based on full-year financial projections and tax considerations[11](index=11&type=chunk) [Reconciliation of GAAP to Non-GAAP Measures](index=7&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) Jabil provides detailed reconciliation of U.S. GAAP to non-GAAP measures, illustrating adjustments for amortization, stock-based compensation, restructuring, and divestiture gains/losses, impacting reported operating income, net income, and diluted EPS Core Operating Income Reconciliation | Metric | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :-------------------------- | :-------- | :-------- | :------- | :------- | | Operating income (U.S. GAAP) | $337 | $318 | $1,182 | $2,013 | | Adjustments to operating income | $182 | $83 | $438 | -$425 | | Core operating income (Non-GAAP) | $519 | $401 | $1,620 | $1,588 | Core Earnings Reconciliation | Metric | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :---------------------------------- | :-------- | :-------- | :------- | :------- | | Net income attributable to Jabil Inc. (U.S. GAAP) | $218 | $138 | $657 | $1,388 | | Core earnings (Non-GAAP) | $360 | $270 | $1,082 | $1,056 | Core Diluted EPS Reconciliation | Metric | Q4 FY25 | Q4 FY24 | FY25 | FY24 | | :---------------------------------- | :-------- | :-------- | :------- | :------- | | Diluted earnings per share (U.S. GAAP) | $1.99 | $1.18 | $5.92 | $11.17 | | Diluted core earnings per share (Non-GAAP) | $3.29 | $2.30 | $9.75 | $8.49 | [Adjusted Free Cash Flow](index=8&type=section&id=Adjusted%20Free%20Cash%20Flow) Jabil reported an adjusted free cash flow of $1.318 billion for FY25, an increase from $1.055 billion in FY24, demonstrating strong cash generation despite capital expenditures | Metric | FY25 (Unaudited) | FY24 | Change (YoY) | | :---------------------------------- | :--------------- | :----------- | :----------- | | Net cash provided by operating activities (U.S. GAAP) | $1,640 million | $1,716 million | -$76 million | | Acquisition of property, plant and equipment ("PP&E") | -$468 million | -$784 million | +$316 million | | Proceeds and advances from sale of PP&E | $146 million | $123 million | +$23 million | | Adjusted free cash flow (Non-GAAP) | $1,318 million | $1,055 million | +$263 million | - The calculation of adjusted free cash flow includes customer co-investment in PP&E, where cash payments for acquisition are recognized, and reimbursements are recognized as proceeds from sale[24](index=24&type=chunk) [Company Information & Disclosures](index=2&type=section&id=Company%20Information%20%26%20Disclosures) [About Jabil](index=3&type=section&id=About%20Jabil) Jabil (NYSE: JBL) is a global manufacturing solutions provider with over 50 years of experience, offering comprehensive engineering, supply chain, and manufacturing services across more than 100 sites worldwide, committed to sustainable processes and diverse communities - Jabil is a trusted partner for top brands, providing comprehensive engineering, supply chain, and manufacturing solutions[14](index=14&type=chunk) - With over **50 years of experience** and a network of over **100 sites worldwide**, Jabil combines global reach with local expertise[14](index=14&type=chunk) - Jabil is committed to building sustainable processes that minimize environmental impact and foster vibrant and diverse communities[14](index=14&type=chunk) [Investor Relations & Media Contacts](index=3&type=section&id=Investor%20Relations%20%26%20Media%20Contacts) Contact information for Jabil's Investor Relations (Adam Berry) and Media Relations (Timur Aydin) is provided for stakeholder inquiries - Investor Contact: **Adam Berry**, Senior Vice President, Investor Relations and Corporate Affairs (Adam_Berry@jabil.com)[15](index=15&type=chunk) - Media Contact: **Timur Aydin**, Senior Director, Enterprise Marketing and Communications (publicrelations@jabil.com)[15](index=15&type=chunk) [Conference Call & Replay Information](index=3&type=section&id=Conference%20Call%20%26%20Replay%20Information) Jabil held a conference call on September 25, 2025, to discuss earnings, with a live audio webcast and slide presentation available on the Investor Relations website, where an archived replay is also accessible - A conference call was held on **September 25, 2025, at 8:30 a.m. ET** to discuss Q4 and FY25 earnings and provide an investor briefing[13](index=13&type=chunk) - The live audio webcast and accompanying slide presentation are available on Jabil's Investor Relations website (https://investors.jabil.com), with an archived replay also accessible[13](index=13&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This release contains forward-looking statements regarding Jabil's anticipated financial results and future performance, based on current expectations and subject to risks and uncertainties that could cause actual outcomes to differ materially, with no obligation to update - The statements in this release are based on current expectations, forecasts, and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially[7](index=7&type=chunk) - Risk factors include, but are not limited to, managing production and demand, dependence on limited customers/suppliers, changes in technology, international operations, regulatory risks, financial risks, and global events[7](index=7&type=chunk) - Jabil assumes no obligation to update these forward-looking statements[7](index=7&type=chunk)

Group 1 - Costco Wholesale Corporation is expected to report quarterly earnings of $5.80 per share on revenue of $86.11 billion after the market closes [2] - Stitch Fix Inc reported better-than-expected fourth-quarter earnings and provided FY2026 guidance above estimates, but its shares fell 6.6% to $5.27 in after-hours trading [2] - Accenture Plc is anticipated to post earnings of $2.96 per share on revenue of $17.36 billion for the latest quarter, with earnings released before market opening [2] - PepGen Inc announced the launch of an underwritten public offering of common stock and pre-funded warrants, resulting in a 119.6% increase in its shares to $5.84 in after-hours trading [2] - Jabil Inc is expected to report quarterly earnings of $2.92 per share on revenue of $7.59 billion before the market opens, with shares gaining 0.5% to $226.39 in after-hours trading [2]

Core Viewpoint - Jabil, a contract manufacturer, is experiencing strong demand and institutional interest, leading to significant stock performance and a positive earnings outlook [2][5][6]. Group 1: Company Overview - Jabil operates across 10 business sectors, including defense, data centers, automotive, robotics, aerospace, energy, healthcare, telecommunications, and consumer goods [4]. - The company partners with major firms such as Amazon, Apple, Tesla, and Broadcom, indicating its strong market position [3]. Group 2: Financial Performance - Jabil reported a 16% increase in sales to over $7.28 billion for the third quarter of fiscal 2025, with earnings per share rising 35% to $2.55 [6]. - Analysts forecast a 9% sales growth to over $7.58 billion and a 27% increase in earnings to $2.92 per share for the next reporting period [6]. Group 3: Market Position and Demand - Jabil has seen a rise in fund ownership, with the number of funds holding its stock increasing from 1,588 to 1,753, and over $208 million worth of stock purchased by top-rated funds [5]. - The Electronics-Contract Manufacturing group, which includes Jabil, ranks No. 10 out of 197 industries tracked by Investor's Business Daily, highlighting strong market interest [2]. Group 4: Technical Analysis - Jabil's stock has recently completed a cup pattern with a buy point of 232.84 and is showing market leadership with a rising relative strength line [7]. - The stock has also moved above its 50-day moving average, indicating a potential breakout [7].

Core Insights - Jabil Inc. has a market capitalization of $25.2 billion and operates in the electronic manufacturing services sector, providing a range of services across various industries [1] Financial Performance - Jabil is set to announce its fiscal Q4 2025 earnings on September 25, with analysts projecting an EPS of $2.81, representing a 30.7% increase from $2.15 in the same quarter last year [2] - For fiscal 2025, the expected EPS is $8.67, a 2.1% rise from $8.49 in fiscal 2024, with further growth anticipated to $10.24 in fiscal 2026, marking an 18.1% year-over-year increase [3] Stock Performance - Over the past 52 weeks, Jabil's shares have surged by 103.6%, significantly outperforming the S&P 500 Index's return of 16.2% and the Technology Select Sector SPDR Fund's increase of 25.1% [4] - Following the release of stronger-than-expected Q3 2025 results, Jabil's shares rose by 8.9%, with adjusted EPS of $2.55 and revenues of $7.82 billion, driven by a 51% year-over-year growth in the Intelligent Infrastructure segment [5] Analyst Sentiment - The consensus among analysts remains bullish, with a "Strong Buy" rating for Jabil stock; out of 10 analysts, eight recommend a "Strong Buy" and two suggest "Holds" [6] - The average analyst price target for Jabil is $234.89, indicating a potential upside of 2.8% from current levels [6]

Group 1 - Jabil Inc. is set to release its fourth-quarter earnings results on September 25, with analysts expecting earnings of $2.95 per share, an increase from $2.30 per share in the same period last year [1] - The company is projected to report quarterly revenue of $7.67 billion, compared to $6.96 billion a year earlier [1] - On July 17, Jabil announced a $1 billion share repurchase authorization [1] Group 2 - Jabil shares rose 0.5% to close at $234.45 on Tuesday [2] - Analysts have provided various ratings and price targets for Jabil, with JP Morgan maintaining an Overweight rating and raising the price target from $214 to $256 [4] - Stifel reinstated a Buy rating with a price target of $245, while B of A Securities raised its price target from $225 to $245 [4] - Raymond James reiterated a Strong Buy rating and increased the price target from $170 to $230, and Goldman Sachs raised its price target from $188 to $215 [4]

Company Overview - Jabil Inc. (NYSE:JBL) is a manufacturer that provides a range of manufacturing and design solutions, including electronics design, prototyping, product validation, and systems assembly [2] - The company serves various industries such as healthcare, automotive, cloud, mobility, and packaging, offering end-to-end product development and supply chain services [2] Market Performance - Jim Cramer highlighted that Jabil's upcoming quarterly results are expected to be "terrific," indicating strong demand for the company's products [1] - Cramer noted that Jabil is consistently performing well and is involved in manufacturing printed electronics devices among other products [1] Investment Insights - There is recognition of Jabil's potential as an investment, although some analysts suggest that certain AI stocks may offer greater upside potential with less downside risk [3]