Jabil Increases Share Repurchase Authorization To $2.5 Bln - Quick Facts

(RTTNews) - Jabil Inc. (JBL) said its Board of Directors has amended and increased the current share repurchase program, which has approximately $776 million outstanding as of August 31, 2023, to allow repurchase of up to $2.5 billion in common stock.

The company's fourth quarter bottom line was $155 million, or $1.15 per share compared with $315 million, or $2.25 per share, a year ago. Excluding items, Jabil reported adjusted earnings of $328 million or $2.45 per share for the period. Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Revenue for the quarter fell 6.3% to $8.46 billion from $9.03 billion last year.

For the first quarter, the company expects: core earnings per share in a range of $2.40 to $2.80 per share, and net revenue in a range of $8.4 billion to $9.0 billion.

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