Jabil (JBL) Q4 FY2026 Earnings Call: AI Drives FY2027 Growth Outlook
Source Tradingkey
Jabil Q4 FY2026 Earnings Call: AI Infrastructure Drives 29% Revenue Growth
Key Takeaways
- Jabil reported Q4 FY2026 revenue of approximately $10.6 billion, up 29% year over year, led by accelerating AI demand and earlier-than-planned capacity additions in Intelligent Infrastructure.
- Q4 core operating income reached $675 million, with a 6.4% core operating margin. Core diluted EPS increased 34% year over year to $4.40.
- Full-year adjusted free cash flow exceeded $1.5 billion, supported by approximately $2 billion of operating cash flow and net capital expenditures of $470 million.
- Management expects FY2027 revenue of approximately $44.5 billion, up about 24%, with core diluted EPS of $17.55 and adjusted free cash flow of approximately $1.6 billion.
- AI-related revenue is projected to rise 54% to approximately $22.1 billion in FY2027. Intelligent Infrastructure revenue is expected to grow 43% to approximately $25.6 billion.
- Execution remains a key focus as Jabil adds about 4 million square feet of capacity. Management expects margins to be weighted toward the second half as utilization, production yields and operating efficiency improve.
Core Financial Data
| Metric | Q4 FY2026 | Change / Commentary |
|---|---|---|
| Revenue | Approximately $10.6 billion | Up 29% year over year |
| GAAP operating income | $602 million | 5.7% of revenue |
| Core operating income | $675 million | 6.4% core operating margin |
| GAAP diluted EPS | $3.76 | — |
| Core diluted EPS | $4.40 | Up 34% year over year |
| Cash from operations | $733 million | Approximately $2 billion for FY2026 |
| Adjusted free cash flow | $541 million | More than $1.5 billion for FY2026 |
| Net capital expenditures | $192 million | $470 million, or 1.3% of revenue, for FY2026 |
| Net inventory days | 64 days | Down approximately four days sequentially |
| Cash balance | Approximately $1.7 billion | At FY2026 year-end |
| Debt to core EBITDA | 1.3x | At FY2026 year-end |
| Available liquidity | Approximately $6.1 billion | Included $4.4 billion of unused borrowing capacity |
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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