Welcome to our dedicated page for Jabil news (Ticker: JBL), a resource for investors and traders seeking the latest updates and insights on Jabil stock.
Jabil Inc. (NYSE: JBL) is frequently featured in corporate news for its role in engineering, manufacturing, and supply chain solutions across diverse industries and end markets. Company press releases highlight developments in areas such as Intelligent Infrastructure, data center power and energy management, energy storage, and corporate finance, giving investors and observers insight into how Jabil manages its portfolio and capital structure.
Recent news has included announcements of preliminary financial results and outlooks, where Jabil has discussed revenue, operating income, and non-GAAP measures such as core operating income and core diluted earnings per share. These updates often emphasize the performance of the Intelligent Infrastructure segment, including demand related to cloud, data center infrastructure, networking, and capital equipment.
Jabil also issues news about strategic transactions and collaborations. The company has announced a definitive agreement and subsequent completion of the acquisition of Hanley Energy Group, a provider of energy management and critical power solutions for the data center infrastructure market. It has described how this acquisition complements Jabil’s existing power management solutions for data centers. In addition, Jabil has reported on a collaboration with partners to manufacture battery energy storage system enclosures and on work with other companies to develop AI-driven server and platform security solutions.
Capital markets and corporate governance events are another recurring theme in Jabil’s news flow. The company has announced offerings of senior notes, the use of proceeds for general corporate purposes including repayment of existing notes, declarations of quarterly dividends, and information about its annual meeting of stockholders. Board transitions and changes in leadership roles on the Board of Directors have also been disclosed through press releases and related Form 8-K filings.
Visitors to a Jabil news page can expect coverage of earnings announcements, segment performance commentary, acquisitions and strategic alliances, financing activities, dividend declarations, and governance updates, all based on the company’s own public communications and regulatory disclosures.
Jabil Inc. (NYSE: JBL) has signed a Memorandum of Understanding (MoU) with the Tamil Nadu state government to expand operations in Tiruchirappalli, India. The agreement, signed in Chicago, aims to establish Jabil as a key manufacturing hub in India, complementing its existing facility in Pune, Maharashtra.
The expansion is expected to create jobs for local youth and foster a robust electronics supply chain in the region. M K Stalin, Chief Minister of Tamil Nadu, highlighted the move as a testament to the state's talent and infrastructure, reinforcing its position as a leader in advanced electronics and innovation.
Jabil has been recognized as an employer of choice, featuring on Fortune Magazine's World's Most Admired Companies list, IDG's CIO 100 award, and TIME's World's Best Companies.
Jabil Inc. (NYSE: JBL) has announced the appointment of CEO Michael Dastoor to its Board of Directors. This move follows Dastoor's recent promotion to CEO in May 2024. Executive Chairman Mark Mondello praised Dastoor's understanding of Jabil's business and culture, highlighting his potential as an invaluable addition to the Board.
Dastoor, who joined Jabil in 2000, has been instrumental in guiding the company through global market challenges and shaping its strategic direction. His appointment is seen as a natural progression of his leadership and impact on the company. Dastoor expressed his honor at joining the Board and his commitment to collaborating with other members to support Jabil's strategic direction and drive long-term shareholder value.
Jabil (NYSE: JBL) has announced a quarterly dividend of $0.08 per share of common stock. The dividend will be paid on September 4, 2024, to shareholders of record as of August 15, 2024. This announcement continues Jabil's tradition of paying consecutive quarterly cash dividends, which has been ongoing since May 15, 2006. The declaration of dividends demonstrates Jabil's commitment to returning value to shareholders and may be seen as an indicator of the company's financial health and confidence in its future prospects.
Jabil (NYSE: JBL) has reported preliminary unaudited financial results for Q3 of fiscal year 2024, noting substantial transformations including divestment of its Mobility business and growth in AI datacenters. Key figures include $6.8 billion in net revenue, $261 million in U.S. GAAP operating income, and $1.06 GAAP diluted EPS. Non-GAAP core operating income was $350 million, with $1.89 core diluted EPS. For Q4, Jabil projects $6.3-$6.9 billion in net revenue, $285-$355 million in GAAP operating income, and $1.40-$1.88 GAAP diluted EPS. Full-year forecasts include $28.5 billion in net revenue, 5.6% core operating margin, $8.40 core diluted EPS, and over $1 billion in adjusted free cash flow. CEO Mike Dastoor emphasized the company's solid positioning in various growth sectors like datacenter power, electric vehicles, and healthcare.
Fabrinet (NYSE: FN), a key player in optical packaging and manufacturing, has appointed Forbes Alexander to its Board of Directors, expanding the board to eight members. Alexander will join the Board’s Audit Committee and brings significant executive and financial expertise, having previously held leadership roles at Jabil (NYSE: JBL) and other technology firms. His extensive background includes positions in finance and board memberships at various high-profile companies. Both Tom Mitchell, Chairman, and Seamus Grady, CEO of Fabrinet, praised Alexander's EMS industry experience and financial acumen as valuable assets for the company's growth and leadership. Alexander expressed enthusiasm about contributing to Fabrinet's ongoing success and reputation in the EMS industry.
Jabil (NYSE: JBL) has announced that it will release its financial results for the third quarter of fiscal year 2024 on June 20, 2024, before the market opens. The company will host a conference call and webcast at 8:30 a.m. ET to review these results. Investors and interested parties can dial in or access the live audio webcast and accompanying slide presentation through Jabil’s Investor Relations website. A replay of the webcast will be available after the call.
Jabil (NYSE: JBL) has announced advancements in its configure-to-order, high-performance server platform, introducing the J312-S and J322-S models. These servers, powered by 5th Gen Intel® Xeon dual socket processors, feature customizable, high-speed, and low-latency I/O options tailored for the financial services industry (FSI) demands. The servers ensure CPU and application synchronization with nanosecond precision, supporting high-frequency trading, market data ingestion, and quantitative research analysis. Jabil's servers also incorporate high-performance Smart Network Interface Cards (SmartNICs) and Precision Time Measurement (PTM) functionality. Future developments include proof-of-concept servers targeting pico-second precision. The offerings are part of Jabil's commitment to creating open, innovative server ecosystems based on OCP Data Center – Modular Hardware System (DC-MHS) specifications. Jabil will present these solutions at the STAC Summit on May 30th in Chicago.
Jabil (NYSE: JBL) reaffirmed its fiscal year 2024 guidance, projecting Q3 net revenue between $6.2 billion and $6.8 billion, U.S. GAAP operating income ranging from $221 million to $301 million, and a diluted EPS between $0.82 and $1.38. The core operating income is anticipated to be between $325 million and $385 million with a core diluted EPS from $1.65 to $2.05. Despite market challenges, Jabil expects to achieve core margins of 5.6% and a core diluted EPS of $8.40 for FY24, while generating over $1 billion in adjusted free cash flow. Due to uncertainties in certain markets and a CEO transition, the fiscal year 2025 guidance has been withdrawn. Jabil remains optimistic about future growth opportunities in sectors such as AI data centers, electric vehicles, and healthcare.
Jabil (NYSE: JBL) has announced significant leadership changes effective immediately. Michael Dastoor has been promoted from CFO and Interim CEO to Chief Executive Officer, succeeding Kenneth Wilson. Gregory Hebard, formerly Senior Vice President and Treasurer, is now the Chief Financial Officer. These changes follow a corporate policies investigation disclosed in April 2024, which has no impact on the company's financial statements. Additionally, Fred McCoy is the new Executive VP of Operations. Steve Borges returns as Executive VP of Global Business Units, while Matt Crowley and Andy Priestley are appointed Executive VPs of Global Business Units. These leadership transitions are expected to guide Jabil into its next growth phase.
Jabil (NYSE: JBL) has announced its participation in the upcoming J.P. Morgan Global Technology, Media and Communications Conference. This event is scheduled for Tuesday, May 21, 2024, at 8:10 AM EST. Interested parties can access a live audio webcast and replay on the Jabil Investor Relations website.