Jabil Inc. Files 2024 Annual Report

Ticker: JBL · Form: 10-K · Filed: Oct 28, 2024 · CIK: 898293

Sentiment: neutral

Topics: annual-report, financials

TL;DR

Jabil's 2024 10-K is in, check financials for the year ending Aug 31.

AI Summary

Jabil Inc. filed its 10-K for the fiscal year ending August 31, 2024, reporting on its financial performance and business operations. The company, headquartered in St. Petersburg, Florida, is involved in the printed circuit boards industry. This filing provides a comprehensive overview of Jabil's financial health and strategic direction for investors and stakeholders.

Why It Matters

This 10-K filing provides crucial financial details and operational insights into Jabil Inc., enabling investors to make informed decisions about the company's performance and future prospects.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags.

Key Players & Entities

FAQ

What is Jabil Inc.'s fiscal year end?

Jabil Inc.'s fiscal year ends on August 31.

When was this 10-K filing submitted?

This 10-K filing was submitted on October 28, 2024.

What is Jabil Inc.'s primary industry classification?

Jabil Inc.'s Standard Industrial Classification is Printed Circuit Boards [3672].

Where is Jabil Inc. headquartered?

Jabil Inc. is headquartered at 10800 Roosevelt Boulevard North, St. Petersburg, FL 33716.

What was Jabil Inc.'s former company name?

Jabil Inc.'s former company name was Jabil Circuit Inc., with a name change date of March 5, 1993.

Filing Stats: 4,186 words · 17 min read · ~14 pages · Grade level 15.7 · Accepted 2024-10-28 17:03:24

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 26

Cybersecurity

Item 1C. Cybersecurity 26

Properties

Item 2. Properties 28

Legal Proceedings

Item 3. Legal Proceedings 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28 Part II.

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29

[Reserved]

Item 6. [Reserved] 30

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 46

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 47

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 47

Controls and Procedures

Item 9A. Controls and Procedures 47

Other Information

Item 9B. Other Information 48 Part III.

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 49

Executive Compensation

Item 11. Executive Compensation 49

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 49

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 49

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 49 Part IV.

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 50

Form 10-K Summary

Item 16. Form 10-K Summary 94

Signatures

Signatures 95 Table of Contents This Annual Report on Form 10-K ("Form 10-K") contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Many of the forward-looking statements are located in Part II, Item 7 of this Form 10-K under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements can also be identified by words such as "future," "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "will," "would," "should," "could," "can," "may," and similar terms. Forward-looking statements are not guarantees of future performance and the Company's actual results may differ significantly from the results discussed in the forward-looking statements. Achievement of anticipated results is subject to substantial risks, uncertainties and inaccurate assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. You should bear this in mind as you consider forward-looking statements, and you are cautioned not to put undue reliance on forward-looking statements. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or by the rules and regulations of the SEC. You are advised, however, to consult any further disclosures we make on related subjects. Factors that might cause such differences include, but are not limited to, those discussed in Part I, Item 1A of this Form 10-K under the heading "Risk Factors," which are incorporated

Business

Item 1. Business The Company We are one of the leading providers of manufacturing services and solutions worldwide. We provide comprehensive electronics design, production, and product management services to companies in various industries and end markets. Our manufacturing and supply chain management services and solutions include innovation, design, planning, fabrication and assembly, delivery and managing the flow of resources and products. Our services enable our customers to reduce manufacturing costs, improve supply chain management, reduce inventory obsolescence, lower transportation costs, and reduce product fulfillment times. We serve our customers primarily through dedicated business units that combine highly automated, continuous flow manufacturing with advanced electronic design and design for manufacturability. Each business unit team serves as a single point of contact between a customer and Jabil. Business unit teams are supported by cross-functional teams, which leverage the power of our global expertise and capabilities to carry out work at the site level. We conduct our operations in facilities that are located worldwide, including but not limited to China, Mexico, Singapore, and the United States. Our global manufacturing production sites allow customers to manufacture products simultaneously in the optimal locations for their products. Our global presence is key to assessing and executing on our business opportunities. For the fiscal year ended August 31, 2024, we had net revenues of $28.9 billion and net income attributable to Jabil Inc. of $1.4 billion. On December 29, 2023 ("the Closing Date"), we completed the sale of our product manufacturing business in Chengdu, including its supporting component manufacturing in Wuxi (the "Mobility Business") to an affiliate of BYD Electronic (International) Co. Ltd. ("BYDE") for pre-tax cash proceeds of approximately $2.2 billion, subject to certain post-closing adjustments. See Note 17 – "Business

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