Jabil (JBL)


June 20, 2024

JBL: First Look at FQ3 (May) Results and Outlook

By Steven Fox

Jabil (JBL; $126.23; O/P) reported FQ3 (May) “core” non-GAAP EPS of $1.89, which was ahead of our consensus matching $1.85 on some sales upside ($6,765mm vs. our $6,500mm and the Street’s $6,525mm). Recall, JBL’s FQ3…

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June 13, 2024

JBL: Expecting Less Dramatics with FQ3 Print

By Steven Fox

We think Jabil (JBL; $121.10; O/P) utilizes its FQ3 (May) results, scheduled for next Thursday (6/20 before market), to better “reset” the Street after what has proven a disappointing past 12 months by the company’s…

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May 29, 2024

JBL: Announces More on the Cloud Front

By Steven Fox

This morning, Jabil (JBL; $117.33; O/P), which currently trades at 14X our F2024E (Aug) EPS and 6.3X EV/EBITDA, announced a new set of configurable, high-performance server platforms, which are part of the company’s broader set…

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May 20, 2024

JBL: Relieving News for Investors

By Steven Fox

This morning, Jabil (JBL; $121.25; O/P) announced several senior leadership changes, most importantly, the appointment of CFO Mike Dastoor to CEO, which is not unexpected given the recent investigation into former CEO Kenny Wilson that…

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April 19, 2024

JBL: CEO Placed on Paid Leave

By Steven Fox

Last night, Jabil (JBL; $129.59) announced in an 8-K filing that CEO Kenny Wilson was placed on paid leave pending completion of “an investigation related to corporate policies”. Effective as of today (4/19), the company’s…

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March 18, 2024

JBL: A Second Top Line Disappointment

By Steven Fox

The shares of Jabil (JBL; $123.15; O/P) plunged 16% on Friday, leaving the stock 20% below recent highs, after F2024E (Aug) guidance disappointed the Street for a second quarter in a row, albeit in the…

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March 15, 2024

JBL: First Look at FQ2 (Feb) Results and Outlook

By Steven Fox

Jabil (JBL; $1.47.46; O/P) reported FQ2 (Feb) “core” non-GAAP EPS of $1.68, which was ahead of our $1.63 and the Street’s $1.66 on sales of $6,767mm (vs. our $6,900mm and the Street’s $6,891mm). Recall, JBL…

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March 7, 2024

JBL: Expect FQ2 (Feb) Print to Support Recent Re-Rating

By Steven Fox

Jabil (JBL; $154.53; O/P) shares are up 21% YTD and +83% over the past year into its FQ2 (Feb) print next Friday (3/15 before market). This is even though our F2024E (Aug) and F2025E EPS…

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January 16, 2024

JBL: CES Meeting Highlights a Still Big Set of Auto Opportunities

By Steven Fox

Last week, we met with Jabil (JBL; $128.14; O/P) management, including CEO Kenny Wilson and Chad Morley, SVP, Auto & Transportation, from the company’s transportation product exhibit at the Consumer Electronics Show (CES) in Las…

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January 2, 2024

JBL: Exits Mobility a Month Earlier Than in Guidance

By Steven Fox

Jabil (JBL; $127.40; O/P) announced on Friday (12/29/23) that it completed the divestiture of its Mobility business to BYD Electronic for $2.2B or $1.7B after transaction fees, taxes, and restructuring for resulting stranded costs and…

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December 14, 2023

JBL: Fleshes Out Pre-Announce; Damn the Buyback Torpedoes

By Steven Fox

Jabil (JBL; $136.42; O/P) posted full FQ1 (Nov) results and guidance that not surprisingly were very consistent with its recent negative pre-announcement, per the table below (“Guide Down Highlights Silver Lining Playbook”; 11/29). Admittedly, questions…

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December 13, 2023

JBL: Announces Interesting AI Partnership

By Steven Fox

Yesterday, Supplyframe, which has developed a Design-to-Source Intelligence (DSI) platform for the global electronics market, announced an interesting partnership with Jabil (JBL; $120.15; O/P) to better utilize artificial intelligence (AI) and automation technologies to enable…

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December 11, 2023

JBL: Some Explaining to Do

By Steven Fox

We think Jabil’s (JBL; $121.15; O/P) release of FQ1 (Nov) results and outlook on Thursday (12/14 before market) leaves little room for surprise after its negative pre-announcement. However, we see a lot for Jabil to…

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November 29, 2023

JBL: Guide Down Highlights Silver Lining Playbook

By Steven Fox

Last night, Jabil (JBL; $130.68; O/P) negatively pre-announced FQ1E (Nov) and guided down full F2024E (Aug) sales and EPS. Specifically, Jabil now sees FQ1E sales of $8.3-8.4B, down from prior thinking of $8.4-9.0B, and EPS…

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November 27, 2023

JBL: Expands on Higher Margin Renewables Growth Story

By Steven Fox

Last week, Jabil (JBL; $130.29; O/P) announced it entered into a strategic manufacturing agreement with Power Electronics, which is a scaled OEM provider of a range of energy storage solutions based largely in Valencia, Spain…

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