Jabil(JBL)2025-03-20 11:51Financial Performance - Net revenue for Q2 fiscal year 2025 was $6.7 billion, slightly down from $6.8 billion in Q2 fiscal year 2024[5]. - U.S. GAAP operating income for Q2 was $245 million, compared to $1.1 billion in the same quarter last year[17]. - Core diluted earnings per share (Non-GAAP) for Q2 was $1.94, down from $7.31 in Q2 fiscal year 2024[17]. - The company reported a net income of $117 million for Q2, significantly lower than $927 million in Q2 fiscal year 2024[17]. - Net income for the six months ended February 28, 2025, was $217 million, a decrease from $1,121 million for the same period in 2024, representing a decline of approximately 80.7%[19]. - Operating income (U.S. GAAP) for the six months ended February 28, 2025, was $442 million, down from $1,434 million in the prior year, reflecting a decrease of about 69.1%[20]. - Diluted earnings per share (U.S. GAAP) for the six months ended February 28, 2025, was $1.93, down from $8.66 in the same period of 2024, a decline of approximately 77.7%[20]. Revenue Outlook - The company expects third quarter net revenue to be between $6.7 billion and $7.3 billion[3]. - Fiscal year 2025 net revenue outlook is set at $27.9 billion, with a core operating margin of 5.4%[4]. Cash Flow and Assets - Adjusted free cash flow for fiscal year 2025 is projected to exceed $1.2 billion[4]. - Total current assets as of February 28, 2025, were $12.6 billion, a decrease from $12.8 billion as of August 31, 2024[15]. - Cash and cash equivalents at the end of the period were $1,592 million, down from $2,566 million at the end of the same period in 2024, a decrease of about 37.9%[19]. - The company reported a net cash provided by operating activities of $646 million for the six months ended February 28, 2025, compared to $666 million for the same period in 2024, a slight decrease of 3%[22]. - Adjusted free cash flow (Non-GAAP) for the six months ended February 28, 2025, was $487 million, significantly higher than $221 million for the same period in 2024, indicating an increase of approximately 120%[22]. - Total cash flows used in financing activities for the six months ended February 28, 2025, were $746 million, compared to $1,455 million in the same period of 2024, a decrease of about 48.8%[19]. - The company reported a decrease in cash flows from investing activities, with a net cash used of $503 million for the six months ended February 28, 2025, compared to a net cash provided of $1,558 million in the prior year[19]. Business Operations - Jabil's diversified portfolio continues to show resilience, particularly in capital equipment and cloud infrastructure markets[2]. - The company incurred $361 million in cash paid for business and intangible asset acquisitions, net of cash, during the six months ended February 28, 2025, compared to $93 million in the prior year[19]. - The company recorded a gain from the divestiture of businesses of $942 million in the prior year, which significantly impacted the year-over-year comparison[20].