Jabil Inc. (JBL) confirmed its third-quarter guidance on Monday, expecting net revenue between $6.2 billion and $6.8 billion. The company anticipates earnings per share (EPS) to range from $0.82 to $1.38, with core earnings projected between $1.65 and $2.05 per share.
Consensus among eight analysts surveyed by Thomson Reuters predicts the company will report a third-quarter EPS of $2.21 and revenues of $6.83 billion. These analyst estimates typically exclude any special items.
Looking ahead to fiscal 2025, Jabil has withdrawn its previously provided guidance due to the current visibility in certain end markets and the unexpected CEO transition.
In a separate announcement, Jabil named Michael Dastoor, the current Chief Financial Officer (CFO) and Interim CEO, as the new Chief Executive Officer (CEO). He will replace Kenneth Wilson, who will no longer serve as CEO or on Jabil's Board of Directors.
Gregory Hebard, the former Senior Vice President and Treasurer, has been promoted to Chief Financial Officer.
These executive changes come in the wake of the completion of an investigation related to corporate policies, initially disclosed by Jabil on April 18, 2024.
