Jabil said it completed the sale of its Chengdu product manufacturing business, including the Wuxi component manufacturing, the Mobility Business, to an affiliate of BYDE on December 29, 2023 for pre-tax cash proceeds of approximately $2.2 billion. The amount is subject to post-closing adjustments.

10-KAnnual reportFiled Oct 28, 2024Period of report Aug 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Jabil said it completed the sale of its Chengdu product manufacturing business, including the Wuxi component manufacturing, the Mobility Business, to an affiliate of BYDE on December 29, 2023 for pre-tax cash proceeds of approximately $2.2 billion. The amount is subject to post-closing adjustments.
The company said its net revenue decreased in fiscal 2024 compared with the prior year. EMS revenue fell 18% and DMS revenue fell 16%, and the company said that 13% of the DMS decline was mainly due to the divestiture of the Mobility Business.
The company said it recognized a pre-tax gain of $942 million from the divestiture of the Mobility Business, and that the post-closing adjustments are still being finalized. It also said it expects to recognize pre-tax restructuring-related costs of approximately $150 million to $200 million in fiscal 2025.
The company said it had approximately $2.2 billion in cash and cash equivalents as of August 31, 2024, and that it had $4.0 billion of unused borrowing capacity under its revolving credit facilities. It said the maximum available liquidity under its trade accounts receivable sale programs is $1.7 billion.

Key figures

Fiscal year ended August 31, 2024

Revenue: $28.9B
Operating income: $2.0B
Net income: $1.4B
EPS: $11.17
Gross profit: $2.7B
Operating cash flow: $1.7B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Divestiture of Mobility Business for approximately $2.2 billion in consideration

Jabil said it completed the sale of its Chengdu product manufacturing business, including the Wuxi component manufacturing, the Mobility Business, to an affiliate of BYDE on December 29, 2023 for pre-tax cash proceeds of approximately $2.2 billion. The amount is subject to post-closing adjustments.

Source · Based on the MD&A text of the filing

Annual segment revenue decline and company explanation

The company said its net revenue decreased in fiscal 2024 compared with the prior year. EMS revenue fell 18% and DMS revenue fell 16%, and the company said that 13% of the DMS decline was mainly due to the divestiture of the Mobility Business.

Source · Based on the MD&A text of the filing

Divestiture gain and 2025 Restructuring Plan outlook

The company said it recognized a pre-tax gain of $942 million from the divestiture of the Mobility Business, and that the post-closing adjustments are still being finalized. It also said it expects to recognize pre-tax restructuring-related costs of approximately $150 million to $200 million in fiscal 2025.

Source · Based on the MD&A text of the filing

Liquidity as of August 31, 2024

The company said it had approximately $2.2 billion in cash and cash equivalents as of August 31, 2024, and that it had $4.0 billion of unused borrowing capacity under its revolving credit facilities. It said the maximum available liquidity under its trade accounts receivable sale programs is $1.7 billion.

Source · Based on the MD&A text of the filing

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.

View the original filing on SEC EDGAR ↗

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