Jabil backs Q3 core EPS view $1.65-$2.05, consensus $1.85

Backs Q3 revenue view $6.2B-$6.8B, consensus $6.83B. Jabil announced it is confirming its previously provided third quarter of fiscal year 2024 guidance for net revenue of $6.2B to $6.8B, U.S. GAAP operating income of $221M to $301M, U.S. GAAP diluted earnings per share of 82c to $1.38, core operating income of $325M to $385M, and core diluted earnings per share of $1.65 to $2.05. A reconciliation of U.S. GAAP to non-GAAP measures can be found on Form-8K filed on March 15. “I’m pleased with how our team has executed this quarter under very dynamic market conditions. FY24 has been a year of change for Jabil, as we divested our Mobility business and plan to utilize most of the net proceeds to repurchase shares. Meanwhile, some of our end markets such as renewables, 5G, semi-cap, and electric vehicles have weakened,” said CEO Mike Dastoor.