Jabil stock tanks 12% as revenue misses estimates

Core Viewpoint - Jabil Inc reported lower-than-expected revenue for its second financial quarter, leading to a 12% decline in stock price, and issued downbeat guidance for future revenue expectations [1][2]. Financial Performance - Jabil earned $927 million in the latest quarter compared to $207 million in the same quarter last year [4]. - Per-share earnings increased from $1.52 to $7.31, with adjusted EPS reported at $1.68 [4]. - Net revenue decreased by 16% year-on-year to $6.8 billion, while consensus estimates were $1.66 per share on $6.9 billion in revenue [4]. Future Guidance - The company forecasts future revenue to fall between $6.2 billion and $6.8 billion, significantly lower than analysts' expectations of $7.4 billion [2]. - CEO Kenny Wilson expressed confidence in delivering strong core operating margins and free cash flow in FY24 despite short-term revenue headwinds [2][4].