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Jabil Confirms Q3 Outlook; Withdraws FY25 Outlook; Appoints Michael Dastoor CEO, Gregory Hebard CFO
(RTTNews) - Jabil Inc. (JBL) announced Monday it is confirming the previously provided third-quarter guidance for net revenue of $6.2 billion to $6.8 billion, earnings of $0.82 to $1.38 per share and core earnings of $1.65 to $2.05 per share.
On average, eight analysts polled by Thomson Reuters expected the company to report earnings of $2.21 per share on revenues of $6.83 billion for the third quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the the Company is withdrawing its previously provided guidance, given the current visibility in certain end markets, along with the unanticipated CEO transition.
Separately, Jabil announced the appointment of Michael Dastoor, who has been serving as Chief Financial Officer and Interim CEO, as Chief Executive Officer. He succeeds Kenneth Wilson, who will no longer serve as Chief Executive Officer or on Jabil's Board of Directors.
Gregory Hebard, most recently Senior Vice President, Treasurer, has been appointed Chief Financial Officer.
These actions follow the completion of the investigation related to corporate policies, which Jabil initially disclosed on April 18, 2024.
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