Slide 1: First Quarter 2021 Results
FIRST QUARTER 2021 RESULTS December 17, 2020
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Forward Looking Statements: This presentation contains forward-looking statements, including those regarding our anticipated financial results for the first quarter of fiscal year 2021; our guidance for future financial performance in our second quarter of fiscal year 2021
Slide 3: Business Update
> Business Update
Slide 4: Our People
Our People Jabil’s Most Valued Differentiator A Team which promotes an Inclusive Environment
Slide 5: First Quarter 2021 Financial Highlights
First Quarter 2021 Financial Highlights NET REVENUE ✓ Record Financial Results $7.8 • Revenue, core operating income, core diluted EPS BILLION ✓ Core Operating Margin CORE OP MARGIN • Solid execution and operating leverage ✓ Core Diluted EPS 4.7% • 52% growth year-on-year CORE DILUTED EPS $1.60 See
Slide 6: Composition of Our Commercial Portfolio
Composition of Our Commercial Portfolio Critical and Trusted Partner DIVERSIFIED MANUFACTURING ELECTRONICS MANUFACTURING Mobility Digital Print & Retail Industrial & Semi-Cap Healthcare & Packaging 5G Wireless & Cloud Connected Devices Automotive & Transportation Networking & Storage DMS PEDIGREE AN
Slide 7: FY21 Financial Outlook
FY21 Financial Outlook Positive Update NET REVENUE CORE OP MARGIN CORE DILUTED EPS FREE CASH FLOW $27.5 4.1% $4.60 $600+ BILLION MILLION MANAGEMENT’S UPDATED OUTLOOK FOR FY21 See U.S. GAAP to non-GAAP definitions located at https://investors.jabil.com/ 7
Slide 8: Thank You
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Slide 9: Financial Update
> Financial Update
Slide 10: First Quarter 2021 Financial Highlights
First Quarter 2021 Financial Highlights NET REVENUE ✓ Revenue $7.8 • Broad-based strength, including Healthcare, Automotive, Digital Print and Semi-Cap BILLION • Stronger-than-expected demand in Mobility, CORE OP MARGIN Connected Devices and Cloud ✓ Core Operating Margin 4.7% • Solid operating lever
Slide 11: First Quarter 2021 Income Highlights
First Quarter 2021 Income Highlights THREE MONTHS ENDED NOVEMBER 30, (In millions, except for per share data) 2020 2019 Net revenue $7,833 $7,506 U.S. GAAP operating income $314 $153 U.S. GAAP net income $200 $40 U.S. GAAP diluted earnings per share $1.31 $0.26 Core operating income (non-GAAP)1 $365
Slide 12: First Quarter Segment Results
First Quarter Segment Results DIVERSIFIED MANUFACTURING SERVICES (DMS) ▪ Net Revenue Increase of 13% ▪ Core operating margin1 (non-GAAP) of 5.7% ELECTRONICS MANUFACTURING SERVICES (EMS) EMS ▪ Net Revenue decrease of 4%2 46% $7.8B DMS ▪ Core operating margin1 (non-GAAP) of 3.4% REVENUE 54% TOTAL COMP
Slide 13: Cash Flow Highlights
Cash Flow Highlights THREE MONTHS ENDED NOVEMBER 30, (In millions) 2020 Cash flow from operations $65 Net capital expenditures1 ($242) Adjusted free cash flow (non-GAAP)2 ($177) Core EBITDA (non-GAAP)1 $559 Share repurchases $50 1 See U.S. GAAP to non-GAAP reconciliation in appendix and U.S. GAAP to
Slide 14: Second Quarter FY21 Guidance
Second Quarter FY21 Guidance Segment Revenue Guidance Q2 FY20 Q2 FY21E YoY Change ▪ Diversified Manufacturing Services $2.9B $3.5B Increase 22% ▪ Electronics Manufacturing Services $3.2B $3.0B Decrease 8%* Consolidated Guidance Q2 FY21E Net revenue $6.2B - $6.8B U.S. GAAP operating income $173M - $2
Slide 15: Our Portfolio End-Markets
Our Portfolio End-Markets DIVERSIFIED MANUFACTURING ELECTRONICS MANUFACTURING $ in billions FY20 FY21E $ in billions FY20 FY21E Healthcare & Packaging $4.2 $4.9 Digital Print & Retail $2.3 $2.2 Automotive & Transportation Industrial & Semi-Cap $3.5 $3.5 $1.7 $2.1 Connected Devices $4.0 $4.1 5G, Wire
Slide 16: Raising FY21 Financial Outlook Since September
Raising FY21 Financial Outlook Since September NET REVENUE ✓ Revenue $27.5 BILLION • Increased $1 billion CORE OP MARGIN ✓ Core Operating Margin • Improved 10 bps 4.1% ✓ Core Diluted EPS • Increased 60 cents or 15% CORE DILUTED EPS $4.60 Core operating margin defined as core operating income divided
Slide 17: Mark Mondello, CEO and Mike Dastoor, CFO
MARK MONDELLO MIKE DASTOOR CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER
Slide 18: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX GAAP to Non-GAAP Reconciliations
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 thousands, except for per share data) (Unaudited) Three months ended November 30, 2020 November 30, 2019 Operating income (U.S. GAAP) $ 313,950 $ 152,779 Amortization of intangibles 11,455 16,140 Stock-ba