Slide 1: Second Quarter Fiscal Year 2024 Results
SECOND QUARTER FISCAL YEAR 2024 RESULTS March 15, 2024
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 second quarter of fiscal year 2024, our guidance for future financial performance in our third quarter of fiscal year 2024
Slide 3: Second Quarter FY 2024 Income Highlights
Second Quarter FY 2024 Income Highlights THREE MONTHS ENDED February 29, 2024 2023 (In millions, except for per share data) Net revenue $6,767 $8,134 U.S. GAAP operating income $1,131 $359 U.S. GAAP net income $927 $207 U.S. GAAP diluted earnings per share $7.31 $1.52 Core operating income (non-GAAP
Slide 4: Second Quarter FY 2024 Segment Results
Second Quarter FY 2024 Segment Results DIVERSIFIED MANUFACTURING SERVICES (DMS) ▪ Net Revenue decrease 16% y/y ▪ Core margin* (non-GAAP) of 5.6% ELECTRONICS MANUFACTURING SERVICES (EMS) ▪ Net Revenue decrease of 18% y/y EMS $6.8B DMS ▪ Core margin* (non-GAAP) of 4.4% 49% REVENUE 51% TOTAL COMPANY ▪
Slide 5: Second Quarter FY 2024 Cashflow Highlights
Second Quarter FY 2024 Cashflow Highlights THREE MONTHS ENDED FEBRUARY 29, ($ millions) 2024 Net cash provided by operating activities $218 Acquisition of property, plant and equipment ($266) Proceeds and advances from sale of property, $96 plant and equipment Net capital expenditures1 ($170) Adjust
Slide 6: Financial and End-Market Update
Financial and End-Market Update
Slide 7: Third Quarter FY24 Guidance
Third Quarter FY24 Guidance Segment Revenue Guidance Q3 FY23 Q3 FY24E Diversified Manufacturing Services $4.3B $3.3B Electronics Manufacturing Services $4.1B $3.2B Consolidated Guidance Q3 FY24E Net revenue $6.2B - $6.8B U.S. GAAP operating income $221M - $301M U.S. GAAP diluted earnings per share $
Slide 8: FY24 Revenue by End-Market
FY24 Revenue by End-Market $ in billions Revenue by End-Market FY23 FY24E Y/Y % ∆ Auto & Transportation $4.4 $4.8 9% Healthcare & Packaging $5.6 $5.7 2% Industrial & Semi-Cap $4.4 $3.7 -16% Digital Print & Retail $3.1 $2.6 -16% Networking & Storage $3.1 $2.6 -16% Connected Devices $4.0 $3.0 -25% 5G
Slide 9: Continued Core Margin Expansion
Continued Core Margin Expansion Driving Margin Expansion Core Operating Margin1 Core Operating Margin Drivers ($ millions) • Pushing out planned 5.0% 5.6% renewable energy ramp and 4.6% investment costs 4.2% 3.5% 3.2% • Expected fixed cost recoveries from 5G and renewable energy markets • Aligning c
Slide 10: Our Outlook: FY24 Financial Plan
Our Outlook FY24 Financial Plan NET REVENUE CORE OP MARGIN 1 CORE EPS 1 FREE CASH FLOW 1 $ 28.5 5.6% $ 8.40 $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/ 10
Slide 11: FY25 End-Market Commentary
FY25 End-Market Commentary • EV and hybrid platforms growth rates continue to outpace ICE platforms Auto & Transportation • Good visibility to new EV product launches in FY25 as we continue to win market share • FY25 growth will be driven by new programs and less reliant on volume growth with existi
Slide 12: Share Repurchase Update
Share Repurchase Update Supported by a $2.5 Billion share Repurchase Authorization Shareholder Return Weighted Average FY24E Shares Outstanding (millions) Share Repurchases Dividends 185 175 165 159 155 152 144 145 136 $2.5B 125 123-126 110-113 105 85 FY18 FY19 FY20 FY21 FY22 FY23 FY24E FY25E See U.
Slide 13: Our Outlook: FY25 Financial Plan
Our Outlook FY25 Financial Plan 5.1% 5.7%+ 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 • Continued innovations and ef
Slide 14: Business Update
Business Update JABIL
Slide 15: Agile Connected Factory Network
Agile Connected Factory Network 15
Slide 16: Our Portfolio: Diversified and Resilient
Our Portfolio Diversified and Resilient Digital Print & Retail Healthcare & Electric Vehicles Packaging Networking & Storage Implantable Connected Devices Auto & AI Data Center Transportation Advanced Packaging 5G Wireless & Cloud Industrial & Semi-Cap 16
Slide 17: AI Datacenter Infrastructure
AI Datacenter Infrastructure LV/MV Switchgear Compute Optimized Racks Storage Optimized Racks AI/ML Optimized Racks AI/ML Networking Optical Transceivers Power Infrastructure Thermal Management Liquid Cooled High Performance Racks Rack Power Distribution Networking Rack & Row Liquid Cooling Distribu
Slide 18: Our Outlook: FY25 Financial Plan
Our Outlook FY25 Financial Plan CORE OP MARGIN 1 CORE EPS 1 FREE CASH FLOW 1 5.7%+ $ 10.65 $1+ BILLION MANAGEMENT’S OUTLOOK FOR FY25 1 See U.S. GAAP to non-GAAP definitions and reconciliations located at https://investors.jabil.com/ 18
Slide 19: GM FZE
1(( e))) GM FZE \ Challenge For The Shingo P Prize JABIL Jabil Sha nghai Site
Slide 20: Key Messages
Key Messages ▪ FY24 • Unexpected weakness in renewable energy and 5G markets • Optimizing costs and footprint • $2.5 billion share repurchases • Improving mix ▪ FY25 • Strong growth in AI data centers, electric vehicles, and healthcare • Full impact of FY24 share repurchases 20
Slide 21: Made Possible
MADE POSSIBLE. JABIL | MAdEBossie
Slide 22: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP TO NON-GAAP RECONCILIATIONS
Slide 23: 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 Six months ended February 29, 2024 February 28, 2023 February 29, 2024 February 28, 2023 Operating income (U.S. GAAP) $ 1,131 $ 359 $ 1,