Jabil Circuit Inc
JBL.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q3
Jabil’s Q3 beat expectations and triggered a $1 billion upgrade to its FY2026 revenue target, now forecasting roughly $35 billion. The quarter delivered $8.8 billion in revenue and $3.16 core EPS, while the full‑year core EPS outlook rose to about $12.70 and AI‑related revenue guidance increased by $500 million to $13.6 billion—approximately 50% YoY growth. Management also secured a third hyperscaler contract and announced a strategic alliance with Adani Enterprises to build a long‑term AI manufacturing platform in India, underpinning a FY2027 margin outlook above 6%.
Core Diluted EPS (Q3)
$3.16
+23.9% YoY
Net Revenue (Q3)
$8.8B
+11.8% YoY
AI-Related Revenue Outlook (FY26)
~$13.6B
+$500M
Core Diluted EPS Outlook (FY26)
~$12.70
+$0.45
Adj. Free Cash Flow Outlook (FY26)
>$1.4B
+$100M
What We're Watching
Strategic
Adani Enterprises Alliance Finalization
📅
Ongoing
What to Monitor
An announcement of a definitive framework for the strategic alliance, including details on structure and capital model.
Why It Matters
This initiative represents a major new long-term growth vector to build a scaled AI infrastructure manufacturing platform in India; finalizing the agreement is the critical next step.
Strategic
Third Hyperscaler Ramp Execution
📅
FY2027
What to Monitor
Initial revenue contribution and progress toward the "couple of hundred million" target for FY2027 mentioned by management.
Why It Matters
This win is a key proof point for Jabil's "land and expand" strategy. A successful ramp validates the model and de-risks the path to the projected $1B+ revenue run-rate in FY2028.
Operational/Risk
Inventory Normalization
📅
Next Quarter (Q4)
What to Monitor
Net inventory days returning to the 55-60 day target range from the elevated 68 days reported in Q3.
Why It Matters
Management explicitly committed to this normalization. Success is a key indicator of operational execution and working capital discipline; failure could signal a demand-supply mismatch or execution issues.
Operational/Risk
New Capacity Ramp Efficiency
📅
Early FY2027
What to Monitor
Management commentary on ramp costs, utilization rates, and any impact on near-term margins as new facilities in North Carolina, Memphis, and India come online.
Why It Matters
Efficient execution of this 10% global footprint expansion is critical to absorbing growth and achieving the "above 6%" core operating margin target for FY2027 without significant initial dilution.
Opportunity
Confirmation of FY2027 AI Growth Outlook
📅
Next Quarter (September Investor Briefing)
What to Monitor
The formal FY2027 AI revenue growth guidance and whether it aligns with, exceeds, or falls short of the preliminary ~50% target provided this quarter.
Why It Matters
This ambitious growth target is a cornerstone of the current investment thesis. Formal confirmation would reinforce confidence, while any material deviation would significantly impact valuation and future expectations.
