Jabil Inc. · NYSE:JBL
Jabil — Q1 2024 Earnings Presentation
18 slides from Jabil's earnings presentation, Dec 14, 2023
Slide 1: First Quarter Fiscal Year 2024 Results
FIRST QUARTER FISCAL YEAR 2024 RESULTS December 14, 2023
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 our first quarter of fiscal year 2024, our guidance for future financial performance in our second quarter of fiscal year 2024
Slide 3: First Quarter FY 2024 Income Highlights
First Quarter FY 2024 Income Highlights THREE MONTHS ENDED NOVEMBER 30, 2023 2022 (In millions, except for per share data) Net revenue $8,387 $9,635 U.S. GAAP operating income $303 $362 U.S. GAAP net income $194 $223 U.S. GAAP diluted earnings per share $1.47 $1.61 Core operating income (non-GAAP)1
Slide 4: First Quarter FY 2024 Segment Results
First Quarter FY 2024 Segment Results DIVERSIFIED MANUFACTURING SERVICES (DMS) ▪ Net Revenue decrease 6% y/y ▪ Core margin* (non-GAAP) of 7.0% ELECTRONICS MANUFACTURING SERVICES (EMS) EMS ▪ Net Revenue decrease of 21% y/y 43% $8.4B ▪ Core margin* (non-GAAP) of 4.6% REVENUE DMS 57% TOTAL COMPANY ▪ Ne
Slide 5: First Quarter FY 2024 Cashflow Highlights
First Quarter FY 2024 Cashflow Highlights THREE MONTHS ENDED NOVEMBER 30, ($ millions) 2023 Net cash provided by operating activities $448 Acquisition of property, plant and equipment ($288) Proceeds and advances from sale of property, $13 plant and equipment Net capital expenditures1 ($275) Adjuste
Slide 6: Business Update
Business Update Kenny Wilson
Slide 7: Changes in Demand
Changes in Demand Customers have adjusted demand schedules as they react to a slow down in end-markets END-MARKET CHALLENGES heading into the end of the calendar year. Being able to absorb changes in demand signals effectively across our network is a critical part of JABIL ADVANTAGE our value propos
Slide 8: FY24 Revenue Drivers
FY24 Revenue Drivers Electric Vehicles Revenue by End-Market Y/Y % ∆ Auto & Transportation 11% Industrial & Semi-Cap 7% Energy Storage Healthcare & Packaging 5% Digital Print & Retail -13% Cloud Networking & Storage -16% 5G Wireless & Cloud1 -15% Connected Devices -25% Renewables Digital Health 1 Cl
Slide 9: FY25 Management Outlook
FY25 Management Outlook What We’re Doing is Working 5.1% 5.6%+ 1100 $10.65+ 4.9% 1000 4.7% 900 5.0% 4.5% 800 $8.63 4.3% 700 4.1% 600 3.9% 500 3.7% 400 3.5% 300 FY23 FY25E FY23 FY25E CORE OPERATING MARGIN1 CORE EARNINGS PER SHARE1 • Growth in higher-margin end-markets • Higher Profitability • Continu
Slide 10: Finance Update
«FFP = STOTT. es Finance Update Mike Dastoor
Slide 11: Second Quarter FY24 Guidance
Second Quarter FY24 Guidance Segment Revenue Guidance Q2 FY23 Q2 FY24E Diversified Manufacturing Services $4.08B $3.8B Electronics Manufacturing Services $4.05B $3.5B Consolidated Guidance Q2 FY24E Net revenue $7.0B - $7.6B U.S. GAAP operating income $216M - $301M U.S. GAAP diluted earnings per shar
Slide 12: FY24 Revenue Drivers
FY24 Revenue Drivers $ in billions Revenue by End-Market FY23 FY24E Y/Y % ∆ Auto & Transportation $4.4 $4.9 11% Industrial & Semi-Cap $4.4 $4.7 7% Healthcare & Packaging $5.6 $5.9 5% Digital Print & Retail $3.1 $2.7 -13% Networking & Storage $3.1 $2.6 -16% 5G Wireless & Cloud1 $6.1 $5.2 -15% Connect
Slide 13: Continued Core Margin Expansion
Continued Core Margin Expansion Driving Margin Expansion Core Operating Margin1 Core Operating Margin Drivers ($ millions) 1. Y/Y growth in higher-margin 5.0% 5.3%-5.5% end-markets 4.6% 4.2% 2. Pushing out ramp and 3.5% 3.2% investment costs 3. Aligning costs with lower revenue outlook FY19 FY20 FY2
Slide 14: Share Repurchase Update
Share Repurchase Update Supported by a $2.5 Billion share Repurchase Authorization Weighted Average SHAREHOLDER RETURN Shares Outstanding FY24E (millions) Share Repurchases 190 Dividends 180 175 170 159 160 155 152 150 144 $2.5B 140 136 130 124-127 120 110 100 FY18 FY19 FY20 FY21 FY22 FY23 FY24E See
Slide 15: Our Outlook
Our Outlook FY24 Financial Plan Dependent on Timing of Transaction Close NET REVENUE CORE OP MARGIN 1 CORE EPS 1 FREE CASH FLOW 1 $ 31 5.3% - 5.5% $ 9+ $1+ BILLION BILLION MANAGEMENT’S OUTLOOK FOR FY24 1 See U.S. GAAP to non-GAAP definitions and reconciliations located at https://investors.jabil.com
Slide 16: Made Possible.
MADE POSSIBLE. JABIL | MAdEBossie
Slide 17: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP TO NON-GAAP RECONCILIATIONS
Slide 18: Operating Income, EBITDA and Net Income Non-GAAP Reconciliation
JABIL INC. & SUBSIDIARIES OPERATING INCOME, EBITDA AND NET INCOME NON-GAAP RECONCILIATION (in millions, except for per share data) (Unaudited) Three months ended November 30, 2023 November 30, 2022 Operating income (U.S. GAAP) $ 303 $ 362 Amortization of intangibles 6 8 Stock-based compensation expe