Jabil lifts 2027 outlook on revenue, margin and cash flow

What happened

Jabil Inc. (NYSE JBL) reported preliminary fourth-quarter and fiscal 2026 results on September 30, 2026. Fourth-quarter net revenue was $10.6 billion. U.S. GAAP operating income was $602 million and diluted EPS was $3.76. Core operating income was $675 million and core diluted EPS was $4.40. For fiscal 2026, net revenue was $36.0 billion. U.S. GAAP operating income was $1.7 billion and core operating income was $2.1 billion.

The company said fiscal 2026 revenue rose 21%. Core operating margin expanded 40 basis points. Adjusted free cash flow topped $1.5 billion. Management said the quarter came in above expectations. It also said the year included more AI infrastructure work and growth in other end markets. Jabil said it moved up the value chain while keeping an asset-light model.

Jabil also issued fiscal 2027 guidance. It expects revenue of $44.5 billion, core operating margin of 6.1%, core diluted EPS of $17.55 and adjusted free cash flow of about $1.6 billion. Management said the outlook reflects faster AI demand and growth in automotive, healthcare, energy infrastructure, defense and aerospace, and warehouse and retail automation. It also cited expanding customer relationships and committed business that support new capacity.

Key numbers

Metric	Latest	Change	Source
Fiscal 2027 revenue guidance	$44.5 billion	from $36.0 billion, + $8.5 billion	SEC 8-K press release
Fiscal 2027 core diluted EPS guidance	$17.55	from $13.09, + $4.46	SEC 8-K press release
Fiscal 2027 core operating margin guidance	6.1%	from 5.8%, + 0.3 percentage points	SEC 8-K press release
Adjusted free cash flow	$1.53 billion	from $1.32 billion, + $0.21 billion	SEC 8-K press release

Read more: Jabil (JBL) stock analysis and investment case

Why it matters

OptimistFi's case is that Jabil works if its engineering-led manufacturing and supply-chain role helps it win complex outsourced programs while turning low-margin scale into durable cash flow, not just more revenue. The fiscal 2027 revenue plan is $8.5 billion above fiscal 2026 revenue. That points to another step up in scale. The company is also guiding to about $1.6 billion of adjusted free cash flow, which gives investors another sign of operating quality.

The main caution is that the release is preliminary and unaudited. Management said actual results could differ from the guidance. The core figures also exclude amortization, stock-based compensation, restructuring, loss from the divestiture of businesses and other items. So the outlook helps frame direction, but it does not match reported U.S. GAAP results.

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What's next

Jabil will hold a conference call today at 8:30 a.m. ET to discuss the fourth quarter, fiscal 2026 and the fiscal 2027 outlook. An archived replay will be available after the call ends. A call that repeats the revenue, margin and cash flow ranges would support the forecast. A softer tone or narrower ranges would weaken it.

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