Slide 1: Third Quarter 2023 Results
THIRD QUARTER 2023 RESULTS June 15, 2023 BUSINESS CONFIDENTIAL / ©Jabil Inc. 2022. All Rights Reserved.
Slide 2: Forward Looking Statement
Forward Looking Statement Forward Looking Statements: This presentation contains forward-looking statements, including those regarding our anticipated financial results for the third quarter of fiscal year 2023; our guidance for future financial performance in our fourth quarter of fiscal year 2023
Slide 3: Third Quarter FY23 Highlights
Third Quarter FY23 Highlights NET REVENUE ✓Strength in Automotive, Healthcare and Industrial $8.5 BILLION ✓Core Operating Margin1 up 60 bps y/y CORE OP MARGIN1 • Solid execution and operating leverage ✓ Core Diluted EPS1 4.8% • 16% growth year-on-year CORE DILUTED EPS1 $1.99 1 See U.S. GAAP to non-G
Slide 4: Third Quarter FY 2023 Income Highlights
Third Quarter FY 2023 Income Highlights THREE MONTHS ENDED MAY 31, (In millions, except for per share data) 2023 2022 Net revenue $8,475 $8,328 U.S. GAAP operating income $375 $321 U.S. GAAP net income $233 $218 U.S. GAAP diluted earnings per share $1.72 $1.52 Core operating income (non-GAAP)1 $404
Slide 5: Third Quarter FY 2023 Segment Results
Third Quarter FY 2023 Segment Results DIVERSIFIED MANUFACTURING SERVICES (DMS) ▪ Net Revenue Increase of 13% ▪ Core margin* (non-GAAP) of 4.1% ELECTRONICS MANUFACTURING SERVICES (EMS) EMS $8.5B DMS ▪ Net Revenue decrease of -8% 49% REVENUE 51% ▪ Core margin* (non-GAAP) of 5.5% TOTAL COMPANY ▪ Net Re
Slide 6: Third Quarter FY 2023 Cashflow Highlights
Third Quarter FY 2023 Cashflow Highlights ($ millions) THREE MONTHS ENDED MAY 31, 2023 Days in inventory net of deposits1 62 Net cash provided by operating activities $468 Acquisition of property, plant and equipment ($223) Proceeds and advances from sale of property, plant and equipment $11 Net cap
Slide 7: Jabil FY24 6th Annual Investor Briefing
JABIL FY24 6th ANNUAL INVESTOR BRIEFING September 28, 2023 7
Slide 8: Financial Update
FINANCIAL UPDATE MIKE DASTOOR 8
Slide 9: Third Quarter FY 2023 YTD: Solid Performance Amid Dynamic Environment
Third Quarter FY 2023 YTD Solid Performance Amid Dynamic Environment NET REVENUE CORE OP INCOME 1 CORE EPS 1 Y/ Y GROW TH Y/ Y GROW TH Y/ Y GROW TH 7% 15% 16% 1 See U.S. GAAP to non-GAAP reconciliation in appendix. 9
Slide 10: Fourth Quarter FY23 Guidance
Fourth Quarter FY23 Guidance Segment Revenue Guidance Q4 FY22 Q4 FY23E Diversified Manufacturing Services $4.4B $4.3B Electronics Manufacturing Services $4.6B $4.2B Consolidated Guidance Q4 FY23E Net revenue $8.2B - $8.8B U.S. GAAP operating income $400M - $460M U.S. GAAP diluted earnings per share
Slide 11: Secular Trends Driving Growth Across Multiple End-Markets
Secular Trends Driving Growth Across Multiple End-Markets Revenue by End-Market $ in billions FY22 FY23E Y/Y $ in billions FY22 FY23E Y/Y Auto & Transportation $3.1 $4.4 42% Digital Print & Retail $3.1 $3.1 0% Healthcare & Packaging $5.0 $5.5 10% Industrial & Semi-Cap $4.0 $4.5 13% Connected Devices
Slide 12: Our Outlook: The Momentum Continues
Our Outlook The Momentum Continues CORE OP INCOME & CORE OP MARGIN1 CORE EPS1 FREE CASH FLOW1 (In millions) (In millions) $1,710 $900+ $1,543 $8.50 $810 $7.65 $1,241 4.9% $640 4.6% $5.61 $503 $461 $877 $864 4.2% $2.98 $2.90 3.5% 3.2% FY19 FY20 FY21 FY22 FY23E FY19 FY20 FY21 FY22 FY23E FY19 FY20 FY21
Slide 13: Business Update
BUSINESS UPDATE KENNY WILSON 13
Slide 14: Our Outlook: Updated FY23 Financial Plan
Our Outlook Updated FY23 Financial Plan NET REVENUE CORE OP MARGIN 1 CORE EPS 1 FREE CASH FLOW 1 $ 34.7 4.9% $ 8.50 $ 900+ BILLION MILLION MANAGEMENT’S OUTLOOK FOR FY23 1See U.S. GAAP to non-GAAP definitions located at https://investors.jabil.com/ 14
Slide 15: Targeted End-Markets
Targeted End-Markets Secular Trends Driving Growth Across Multiple End-Markets Electric Vehicles Automotive & Renewables Mobility Transport Connected Devices Industrial & Semi-Cap Energy Storage $34.7B Print & REVENUE Retail F Y 2 3 E 5G & Cloud 5G Wireless & Cloud Networking Digital Health & Storag
Slide 16: Driving Efficiencies Across Factory Network
Driving Efficiencies Across Factory Network Automation, AI & ML 16 16
Slide 17: Our Financial Outlook & Strategy
JABIL FY24 ANNUAL INVESTOR BRIEFING Our Financial Outlook & Strategy FY24 GROWTH DRIVERS ACHIEVING FINANCIAL Cloud Electric Vehicles Renewables OUR TARGETS OUTLOOK PRIORITIES • Profitable Revenue Growth Energy Storage Digital Health Automation/AI/ML • Margin Expansion • Free Cash Flow Growth • EPS G
Slide 18: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP TO NON-GAAP RECONCILIATIONS BUSINESS CONFIDENTIAL / ©Jabil Inc. 2022. All Rights Reserved. 18
Slide 19: Operating Income, EBITDA and Net Income Non-GAAP Reconciliation
JABIL INC. AND SUBSIDIARIES OPERATING INCOME, EBITDA and NET INCOME NON-GAAP RECONCILIATION (in millions, except for per share data) (Unaudited) Three months ended Nine months ended May 31, 2023 May 31, 2022 May 31, 2023 May 31, 2022 Operating income (U.S. GAAP) $ 375 $ 321 $ 1,096 $ 984 Amortizatio