Jabil reaffirms FY24 core EPS view of $9.00 or more, consensus $9.13

Lowers revenue view to $30.6B from $31B, consensus $31.28B. Reaffirms core operating margin 5.3%-5.5% and adjusted FCF $1B or more. “I am delighted to close the transaction and receive the net proceeds ahead of schedule,” said CFO Mike Dastoor. “The earlier close and receipt of funds will enable us to begin initiating plans to reduce stranded costs and executing a series of accelerated buybacks throughout FY24. As a result, we expect to fully utilize our current $2.5 billion dollar repurchase authorization this fiscal year. These actions give me confidence that we will be able to offset lower income in Q2 and deliver core earnings for FY24 in excess of $9 per diluted share.”