Jabil Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Jabil Inc. has submitted its Q2 2024 10-Q filing, detailing financial performance for the quarter ending February 29, 2024.</b>

AI Summary

JABIL INC (JBL) filed a Quarterly Report (10-Q) with the SEC on April 5, 2024. Jabil Inc. filed its quarterly report (10-Q) for the period ending February 29, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on August 31st. Jabil Inc. is classified under Standard Industrial Classification 3672 (Printed Circuit Boards). The filing was submitted on April 5, 2024.

Why It Matters

For investors and stakeholders tracking JABIL INC, this filing contains several important signals. This filing provides investors with crucial, up-to-date financial data and operational insights for Jabil Inc. during the second quarter of fiscal year 2024. Understanding the details within this 10-Q is essential for assessing the company's current financial health, performance trends, and potential future trajectory in the electronics manufacturing services sector.

Risk Assessment

Risk Level: low — JABIL INC shows low risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain any immediately apparent negative or positive surprises that would significantly alter the risk profile.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to identify any specific trends or changes in revenue, profitability, or debt levels.

Key Numbers

• 2024-02-29 — Period End Date (Conformed Period of Report)
• 2024-04-05 — Filing Date (Filed as of Date)
• 08/31 — Fiscal Year End (Company fiscal year end)
• 3672 — SIC Code (Standard Industrial Classification for Printed Circuit Boards)

Key Players & Entities

• JABIL INC (company) — Filer of the report
• 0001628280-24-014951 (other) — Accession Number
• 20240229 (date) — Conformed Period of Report
• 20240405 (date) — Filed as of Date
• 0000898293 (company) — Central Index Key for Jabil Inc.
• 3672 (other) — Standard Industrial Classification (Printed Circuit Boards)
• 381886260 (other) — IRS Number
• DE (other) — State of Incorporation

FAQ

Industry Context

Jabil Inc. operates in the electronics manufacturing services (EMS) industry, providing design, manufacturing, and product management services for companies in various sectors.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the consolidated balance sheets for changes in assets, liabilities, and equity from the prior period.
2. Examine the consolidated statements of operations to understand revenue trends, cost of goods sold, and operating expenses.
3. Review the consolidated statements of cash flows to assess the company's cash generation and usage activities.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-05: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending February 29, 2024, following the previous 10-Q for the period ending November 30, 2023.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share JBL New York Stock

Filing Documents

• jbl-20240229.htm (10-Q) — 1434KB
• d752141dex311.htm (EX-31.1) — 17KB
• d752141dex312.htm (EX-31.2) — 17KB
• d752141dex321.htm (EX-32.1) — 5KB
• d752141dex322.htm (EX-32.2) — 5KB
• jbl-20240229_g1.jpg (GRAPHIC) — 7KB
• 0001628280-24-014951.txt (&nbsp;) — 7915KB
• jbl-20240229.xsd (EX-101.SCH) — 51KB
• jbl-20240229_cal.xml (EX-101.CAL) — 66KB
• jbl-20240229_def.xml (EX-101.DEF) — 276KB
• jbl-20240229_lab.xml (EX-101.LAB) — 627KB
• jbl-20240229_pre.xml (EX-101.PRE) — 477KB
• jbl-20240229_htm.xml (XML) — 1252KB

– Financial Information

Part I – Financial Information

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets as of February 29, 2024 and August 31, 2023 1 Condensed Consolidated Statements of Operations for the three months and six months ended February 29, 2024 and February 28, 2023 2 Condensed Consolidated Statements of Comprehensive Income for the three months and six months ended February 29, 2024 and February 28, 2023 3 Condensed Consolidated Statements of Stockholders' Equity for the three months and six months ended February 29, 2024 and February 28, 2023 4 Condensed Consolidated Statements of Cash Flows for the si x months ended February 29, 2024 and February 28, 2023 5 Notes to Condensed Consolidated Financial Statements 6

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

– Other Information

Part II – Other Information

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 33

Signatures

Signatures 35 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements JABIL INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except for share data) February 29, 2024 (Unaudited) August 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 2,566 $ 1,804 Accounts receivable, net of allowance for credit losses 2,648 3,647 Contract assets 1,086 1,035 Inventories, net of reserve for excess and obsolete inventory 4,821 5,206 Prepaid expenses and other current assets 1,349 1,109 Assets held for sale — 1,929 Total current assets 12,470 14,730 Property, plant and equipment, net of accumulated depreciation of $ 4,655 as of February 29, 2024 and $ 4,512 as of August 31, 2023 3,045 3,137 Operating lease right-of-use asset 363 367 Goodwill 656 621 Intangible assets, net of accumulated amortization 167 142 Deferred income taxes 131 159 Other assets 291 268 Total assets $ 17,123 $ 19,424 LIABILITIES AND EQUITY Current liabilities: Current installments of notes payable and long-term debt $ — $ — Accounts payable 5,041 5,679 Accrued expenses 5,548 5,515 Current operating lease liabilities 102 104 Liabilities held for sale — 1,397 Total current liabilities 10,691 12,695 Notes payable and long-term debt, less current installments 2,878 2,875 Other liabilities 374 319 Non-current operating lease liabilities 272 269 Income tax liabilities 110 131 Deferred income taxes 140 268 Total liabilities 14,465 16,557 Commitments and contingencies Equity: Jabil Inc. stockholders' equity: Preferred stock, $ 0.001 par value, authorized 10,000,000 shares; no shares issued and no shares outstanding — — Common stock, $ 0.001 par value, authorized 500,000,000 shares; 276,057,643 and 273,949,811 shares issued and 122,440,607 and 131,294,422 shares outstanding as of February 29, 2024 and August 31, 2023, respectively — — Additional paid-in capital 2,877 2,795 Retained earnings 5,512 4,412 Accumulated other comprehensive loss ( 17 ) ( 17 ) Treasury stock at cost, 15

View Full Filing

View this 10-Q filing on SEC EDGAR