The company completed the sale of its mobility business to an affiliate of BYD Electronic (International) Company Limited for approximately $2.2 billion on December 29, 2023. This strategic move realigns the company's portfolio.

Jabil acquired ProcureAbility Inc. for approximately $60 million in cash on November 1, 2023. ProcureAbility specializes in technology-enabled procurement services, enhancing Jabil's service capabilities.

A restructuring plan was approved to realign the cost base for stranded costs associated with the sale and realignment of its mobility business and optimize its global footprint. The company expects to recognize approximately $300 million in pre-tax restructuring and other related costs over the course of the company's 2024 fiscal year.

The sales cycle was 42 days for the three months ended November 30, 2023, compared to 43 days for the three months ended November 30, 2022, indicating consistent management of working capital.

The effective income tax rate decreased to 17.6% for the three months ended November 30, 2023, compared to 25.6% for the three months ended November 30, 2022, primarily due to a change in the jurisdictional mix of earnings, driven in part by restructuring charges, (ii) a $19 million income tax benefit for the reversal of a non-U.S. unrecognized tax benefit due to audit closure for the three months ended November 30, 2023, and (iii) an $11 million income tax benefit for the reversal of a portion of the U.S. valuation allowance related to an acquisition for the three months ended November 30, 2023.

The CEO and CFO concluded that the design and operation of disclosure controls were effective as of November 30, 2023, ensuring timely and accurate financial reporting.

The company's five largest customers accounted for approximately 44% of its net revenue during the three months ended November 30, 2023, highlighting a concentration risk.

The company acknowledges risks associated with international sales and operations, including geopolitical uncertainties, which could impact financial performance.

The global asset-backed securitization program requires compliance with several covenants including compliance with the interest ratio and debt to EBITDA ratio of the Credit Facility.

The EMS segment net revenue decreased 21% primarily due to: (i) a 12% decrease in revenues from existing customers within our 5G, wireless and cloud business, which continued transitioning to a customer-controlled consignment model in fiscal year 2024, (ii) a 7% decrease in revenues from existing customers within our digital print and retail business, and (iii) a 2% decrease in revenues from existing customers within our industrial and semi-capital equipment business.

The DMS segment net revenue decreased 6% due to: (i) a 5% decrease in revenues from existing customers within our connected devices business and (ii) a 3% decrease from existing customers within our mobility business.

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.

The 2024 Restructuring Plan reflects the Company's intention only and restructuring decisions, and the timing of such decisions, at certain locations, are still subject to consultation with the Company's employees and their representatives.

Days in inventory increased to 78 days for the three months ended November 30, 2023, compared to 80 days for the three months ended August 31, 2023.

Days in accounts payable decreased to 78 days for the three months ended November 30, 2023, compared to 81 days for the three months ended November 30, 2022, was primarily due to cash payments and timing of purchases during the quarter.

The acquisition of ProcureAbility is a procurement services provider specializing in technology-enabled advisory, managed services, digital, staffing, and recruiting solutions.

Research and development expenses remained consistent as a percentage of net revenue during the three months ended November 30, 2023, compared to the three months ended November 30, 2022.

Our EMS segment is focused around leveraging IT, supply chain design and engineering, technologies largely centered on core electronics, utilizing our large scale manufacturing infrastructure and our ability to serve a broad range of end markets.

As of November 30, 2023, 3.9 million shares had been repurchased for $500 million, excluding excise tax, and $2.0 billion remains available under the 2023 Share Repurchase Program approved in September 2023.

For Fiscal Year 2024, we anticipate our net capital expenditures to be in the range of 2.2 percent to 2.5 percent of net revenue.

Net cash provided by operating activities during the three months ended November 30, 2023, was $448 million compared to $166 million for the three months ended November 30, 2022.

The filing does not contain any specific information on environmental, social, or governance initiatives.

Risk factors include risk arising from compliance, or failure to comply, with environmental, health and safety laws or regulations and intellectual property risk

Risk factors include risk of natural disaster, climate change or other global events; and risks arising from expectations relating to environmental, social and governance considerations.

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.

We monitor the current economic environment and its potential impact on both the customers we serve as well as our end-markets and closely manage our costs and capital resources so that we can respond appropriately as circumstances change.

Foreign source revenue was 86.4% of net revenue for the three months ended November 30, 2023, compared to 85.7% for the three months ended November 30, 2022.