Slide 1: Third Quarter Fiscal Year 2024 Results
THIRD QUARTER FISCAL YEAR 2024 RESULTS June 20, 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 third quarter of fiscal year 2024; our guidance for future financial performance in our fourth quarter of fiscal year 2024
Slide 3: Third Quarter FY 2024 Income Highlights
Third Quarter FY 2024 Income Highlights THREE MONTHS ENDED May 31, 2024 2023 (In millions, except for per share data) Net revenue $6,765 $8,475 U.S. GAAP operating income $261 $375 U.S. GAAP net income $129 $233 U.S. GAAP diluted earnings per share $1.06 $1.72 Core operating income (non-GAAP)1 $350
Slide 4: Third Quarter FY 2024 Segment Results
Third Quarter FY 2024 Segment Results DIVERSIFIED MANUFACTURING SERVICES (DMS) ▪ Net Revenue decrease 23% y/y ▪ Core margin* (non-GAAP) of 4.6% ELECTRONICS MANUFACTURING SERVICES (EMS) EMS $6.8B DMS ▪ Net Revenue decrease of 18% y/y 50% REVENUE 50% ▪ Core margin* (non-GAAP) of 5.7% TOTAL COMPANY ▪ N
Slide 5: Third Quarter FY 2024 Cash Flow Highlights
Third Quarter FY 2024 Cash Flow Highlights THREE MONTHS ENDED MAY 31, ($ millions) 2024 Net cash provided by operating activities $515 Acquisition of property, plant and equipment ($106) Proceeds and advances from sale of property, $6 plant and equipment Net capital expenditures1 ($100) Adjusted fre
Slide 6: Fourth Quarter FY24 Guidance
Fourth Quarter FY24 Guidance Segment Revenue Guidance Q4 FY23 Q4 FY24E Diversified Manufacturing Services $4.44B $3.4B Electronics Manufacturing Services $4.02B $3.2B Consolidated Guidance Q4 FY24E Net revenue $6.3B - $6.9B U.S. GAAP operating income $285M - $355M U.S. GAAP diluted earnings per shar
Slide 7: FY24 Revenue by End-Market
FY24 Revenue by End-Market $ in billions Revenue by End-Market FY23 FY24E Y/Y % ∆ Auto & Transportation $4.4 $4.6 5% Healthcare & Packaging $5.6 $5.5 -2% Networking & Storage $3.1 $2.7 -13% Industrial & Semi-Cap $4.4 $3.7 -16% Digital Print & Retail $3.1 $2.6 -16% Connected Devices $4.0 $3.2 -20% 5G
Slide 8: 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/ 8
Slide 9: Business Update
Business Update JABIL
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: Our Portfolio: Diversified and Resilient
Our Portfolio Diversified and Resilient Digital Print & Retail Healthcare & Packaging Networking & AI Data Center Infrastructure Storage Automated Warehousing Connected Devices Auto & Pharma Solutions Transportation 5G Wireless & Cloud Industrial & Semi-Cap 11
Slide 12: Value Creation For Shareholders
Value Creation For Shareholders Financial Priorities EXPAND INCREASE GENERATE RETURN OPERATING EARNINGS STRONG CASH CAPITAL TO MARGINS PER SHARE FLOWS SHAREHOLDERS ALIGNED & FOCUSED ON DRIVING CONSISTENT CASH FLOWS & PROFITABILIT Y See U.S. GAAP to non-GAAP definitions located at https://investors.j
Slide 13: FY25 Considerations
FY25 Considerations Timing of Optimizing Interest End-Market Portfolio & Tax Recovery 13
Slide 14: FY25 Investor Briefing
FY25 Investor Briefing • Well-positioned to support AI growth • Transitioning from legacy datacenters to AI tailored solutions • Evaluating certain businesses to optimize portfolio • Provide update for timing of recovery in key areas like renewables, semi-cap, EV’s, connected devices, and 5G 14
Slide 15: Thank You
THANK YOU for your commitment and dedication to our customers, communities, and each other. 15
Slide 16: In Summary
In Summary • FY24 remains on track • Expect to complete $2.5 billion share repurchase authorization in Q4 FY24 • Fully committed to growth in AI data centers • Optimizing portfolio • Updated seasonality on new mix of business • Expect FY25 net interest expense to be $275 million • FY25 core tax rate
Slide 17: Made Possible.
MADE POSSIBLE. JABIL | MAdEBossie
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 millions, except for per share data) (Unaudited) Three months ended Nine months ended May 31, 2024 May 31, 2023 May 31, 2024 May 31, 2023 Operating income (U.S. GAAP) $ 261 $ 375 $ 1,695 $ 1,096 Amortizat