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Jabil Posts Second Quarter Results; Raises Outlook for Fiscal Year

Strong Secular Trends Driving Business to New Heights

ST. PETERSBURG, Fla.– Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its second quarter of fiscal year 2021.

“Our second quarter performance was outstanding,” said CEO Mark Mondello. “The combination of broad end-market strength, more favorable product mix, and excellent operational execution by the team allowed us to deliver $285 million in core operating income on revenue of $6.8 billion,” he added.

Second Quarter of Fiscal Year 2021 Highlights:

  • Net revenue: $6.8 billion
  • Diversified Manufacturing Services (DMS) year-on-year revenue growth: 26 percent
  • Electronics Manufacturing Services (EMS) year-on-year revenue decrease: 1 percent
  • U.S. GAAP operating income: $236.4 million
  • U.S. GAAP diluted earnings per share: $0.99
  • Core operating income (Non-GAAP): $284.6 million
  • Core diluted earnings per share (Non-GAAP): $1.27

Third Quarter of Fiscal Year 2021 Outlook:

• Net revenue

$6.6 billion to $7.2 billion

• U.S. GAAP operating income

$188 million to $238 million

• U.S. GAAP diluted earnings per share

$0.69 to $0.89 per diluted share

• Core operating income (Non-GAAP) (1)

$220 million to $270 million

• Core diluted earnings per share (Non-GAAP) (1)

$0.90 to $1.10 per diluted share

• Total company revenue

Increase 9 percent year-on-year

Fiscal Year 2021 Updated Outlook:

“I’m extremely confident in our plan moving forward, which is supported by both strong secular tailwinds and accelerated momentum in many of the end-markets we serve. As a result, we are raising our financial outlook for the balance of the year. We now expect FY21 to deliver revenue in the range of $28.5 billion and core EPS of approximately $5,” added Mondello.

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(1) Core operating income and core diluted earnings per share exclude anticipated adjustments of $12.0 million for amortization of intangibles (or $0.08 per diluted share), $17.0 million for stock-based compensation expense and related charges (or $0.11 per diluted share) and $3.0 million for restructuring, severance and related charges (or $0.02 per diluted share).

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