Jabil (JBL) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 revenue rose 21% to $35.95 billion; core operating margin expanded 40 bps to 5.8%, core EPS reached $13.09, and adjusted free cash flow was $1.53 billion.

• FY2027 outlook targets $44.5 billion revenue, up 24%, with AI infrastructure and diversified end markets supporting growth.

• Added capacity across Southeast Asia, the U.S., Mexico, and India to support customer ramps and more complex engineering and manufacturing needs.

Financial highlights

• Q4 FY2026 revenue was $10.62 billion, up 29% year over year; GAAP operating income was $602 million and core operating income was $675 million.

• Q4 diluted EPS was $3.76 GAAP and $4.40 core; GAAP operating margin was 5.7% and core margin was 6.4%.

• FY2026 GAAP net income was $1.04 billion, diluted EPS was $9.75, core operating income was $2.07 billion, and core EPS was $13.09.

• Adjusted free cash flow was $1.53 billion, up from $1.32 billion in FY2025; cash from operations was $2.00 billion.

• FY2026 gross margin reached 9.2%, up 210 bps since FY2020.

Outlook and guidance

• FY2027 guidance: revenue of $44.5 billion, core operating margin of 6.1%, core EPS of $17.55, and adjusted free cash flow of ~$1.6 billion.

• Q1 FY2027 guidance: revenue of $10.6–$11.4 billion, GAAP operating income of $481–$541 million, core operating income of $592–$652 million, and core EPS of $3.80–$4.20.

• FY2027 segment revenue outlook: Regulated Industries $13.6 billion, Intelligent Infrastructure $25.6 billion, and Intelligent Devices and Robotics $5.3 billion.

• FY2027 revenue is expected to be weighted 45%/55% between H1 and H2; margins are back-end loaded as new capacity ramps and utilization improves.

• FY2027 net CapEx is expected at 1.5%–2% of revenue; 80%+ of adjusted free cash flow is targeted for shareholder returns.