Jabil earnings: guidance and next results
MyStockButler's October 2026 analysis: Jabil's next results are expected on December 16, 2026. The key thing to watch is whether Jabil converts new capacity into shipments, margins and cash.
What has Jabil guided for fiscal 2027?
On September 30, 2026, management guided to revenue of $44.5 billion for the year ending August 2027 and a core operating margin of 6.1%. Operating margin is the share of revenue kept as operating profit; the target represents 24.0% growth and a 30-basis-point improvement.
Management also guided to core diluted earnings per share of $17.55 and approximately $1.6 billion of adjusted free cash flow. Core is Jabil’s adjusted, non-GAAP measure. GAAP is the standard accounting result, while core removes selected costs such as stock compensation, restructuring and acquired-intangible amortization.
| the period guided | low | high | the date it was given | |
|---|---|---|---|---|
| Net revenue (US$ millions) | Quarter to Nov 2026 | 10,600 | 11,400 | Sep 30, 2026 |
| U.S. GAAP operating income (US$ millions) | Quarter to Nov 2026 | 481 | 541 | Sep 30, 2026 |
| U.S. GAAP diluted earnings per share (US$) | Quarter to Nov 2026 | 2.78 | 3.18 | Sep 30, 2026 |
| Core operating income (Non-GAAP) (US$ millions) | Quarter to Nov 2026 | 592 | 652 | Sep 30, 2026 |
| Core diluted earnings per share (Non-GAAP) (US$) | Quarter to Nov 2026 | 3.80 | 4.20 | Sep 30, 2026 |
| Net revenue (US$ millions) | Year to Aug 2027 | 44,500 | 44,500 | Sep 30, 2026 |
| Core diluted earnings per share (Non-GAAP) (US$) | Year to Aug 2027 | 17.55 | 17.55 | Sep 30, 2026 |
| Adjusted free cash flow (Non-GAAP) (US$ millions) | Year to Aug 2027 | 1,600 | 1,600 | Sep 30, 2026 |
What this means. The figures labeled non-GAAP are company-adjusted numbers that leave out some costs, so they may look better than the standard accounting numbers.
Did Jabil keep its past promises?
Management has also built a strong record against its own forecasts. Across the eight-quarter review, all 24 tested comparisons met or exceeded the original ranges. Revenue exceeded its ceiling seven times, while each core earnings measure exceeded its ceiling four times.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Net revenue | 8 quarters | 7 | 1 | 0 |
| Core operating income (Non-GAAP) | 8 quarters | 4 | 4 | 0 |
| Core diluted earnings per share (Non-GAAP) | 8 quarters | 4 | 4 | 0 |
What is Jabil's revenue and profit trend across the last eight quarters?
Revenue rose 28.6% in the August 2026 quarter. Management linked the increase to Intelligent Infrastructure, where capacity became available sooner and customer ramps progressed faster than expected. A second large cloud customer ramped in Mexico, while networking programs expanded in India. Those details connect the result to physical production.
Reported profit growth was also helped by the absence of the previous year’s Italy disposal loss and by lower restructuring charges. Core operating margin moved much less than reported operating profit. The quarter was therefore both stronger operationally and easier to compare.
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10,616 | 8,751 | 8,282 | 8,305 | 8,252 | 7,828 | 6,728 | 6,994 |
| Gross margin | 9.4% | 9.5% | 9.0% | 8.9% | 9.5% | 8.7% | 8.6% | 8.7% |
| Operating income | 602 | 445 | 374 | 283 | 337 | 403 | 245 | 197 |
| Net income | 398 | 275 | 223 | 146 | 218 | 222 | 117 | 100 |
| EPS, diluted | 3.76 | 2.59 | 2.08 | 1.35 | 1.99 | 2.03 | 1.06 | 0.88 |
| = Free cash flow | 487 | 351 | 308 | 228 | 419 | 320 | 218 | 215 |
What this means. The yearly profit per share can differ slightly from adding the four quarterly amounts because the calculation uses different average share counts.