Jabil said it completed the sale of its Chengdu product manufacturing business, including its Wuxi component manufacturing, for approximately $2.2 billion in pre-tax cash on December 29, 2023, and recorded a pre-tax gain of $944 million.

1. 01

   Jabil said it completed the sale of its Chengdu product manufacturing business, including its Wuxi component manufacturing, for approximately $2.2 billion in pre-tax cash on December 29, 2023, and recorded a pre-tax gain of $944 million.

2. 02

   Net revenue decreased for the 3 months ended February 29, 2024, the company said, with EMS segment revenue down 18% and DMS segment revenue down 16%. The company said the divestiture of its mobility business contributed 17% of the DMS decline.

3. 03

   The company said it expects to recognize approximately $300 million in pre-tax restructuring and related costs in fiscal 2024 in connection with its 2024 Restructuring Plan. It said net cash expenditures are expected to be approximately $200 million, payable over fiscal 2024 and 2025.

4. 04

   The company said it had approximately $2.6 billion in cash and cash equivalents as of February 29, 2024, and that the unused available borrowing capacity under its revolving credit facilities was $3.9 billion.

Key figures

Quarter ended February 29, 2024

Revenue

$6.8B

Operating income

$1.1B

Net income

$927M

EPS

$7.31

Gross profit

$630M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.