Sector: Technology|Industry: Electronic Components|Market Cap: $17.15B|Employees: 138K
Jabil Inc. provides manufacturing services and solutions worldwide. It operates in two segments, Electronics Manufacturing Services and Diversified Manufacturing Services. The company offers electronics design, production, and product management services; electronic circuit design services, such as application-specific integrated circuit design, firmware development, and rapid prototyping services; and designs plastic and metal enclosures that include the electro-mechanics, such as the printed circuit board assemblies (PCBA). It also provides three-dimensional mechanical design comprising the analysis of electronic, electro-mechanical, and optical assemblies, as well as various industrial design, mechanism development, and tooling management services. In addition, the company provides computer-assisted design services consisting of PCBA design, as well as PCBA design validation and verification services; and other consulting services, such as the generation of a bill of materials, approved vendor list, and assembly equipment configuration for various PCBA designs. Further, it offers product and process validation services, such as product system, product safety, regulatory compliance, and reliability tests, as well as manufacturing test solution development services. Additionally, the company provides systems assembly, test, direct-order fulfillment, and configure-to-order services. It serves 5G, wireless and cloud, digital print and retail, industrial and semi-cap, networking and storage, automotive and transportation, connected devices, healthcare and packaging, and mobility industries. The company was formerly known as Jabil Circuit, Inc. and changed its name to Jabil Inc. in June 2017. Jabil Inc. was founded in 1966 and is headquartered in Saint Petersburg, Florida.
Net revenue decreased from $34.702 billion to $28.883 billion, a decrease of 16.8%. This decline is attributed to decreases in both the EMS and DMS segments, with the divestiture of the Mobility Business significantly impacting the DMS segment.
Gross profit as a percentage of net revenue increased from 8.3% to 9.3%. This improvement is primarily due to product mix and the removal of depreciation and amortization expenses related to long-lived assets of the divested Mobility Business.
Net income attributable to Jabil Inc. increased from $818 million to $1,388 million. This increase is largely due to the pre-tax gain of $942 million from the divestiture of the Mobility Business.