Supplemental Information Regarding Non-GAAP Financial Measures:
Jabil provides supplemental, non-GAAP financial
measures in this release to facilitate evaluation of
Jabils core operating performance. These non-GAAP measures exclude
certain amounts that are included in the
most directly comparable U.S. GAAP measures, do not have standard meanings and
may vary from the non-GAAP
financial measures used by other companies. Management believes these core financial
measures are useful measures that facilitate evaluation
of the past and future performance of Jabils ongoing operations on a
comparable basis.
Jabil reports core operating income, core earnings, core diluted earnings per share and adjusted free cash flows to provide investors an additional method for
assessing operating income, earnings, earnings per share and free cash flow from what it believes are its core manufacturing operations. Among other uses, management uses non-GAAP financial measures to make
operating decisions, assess business performance and as a factor in determining certain employee performance when determining incentive compensation.
The
Company determines an annual normalized tax rate (normalized core tax rate) for the computation of the non-GAAP (core) income tax provision to provide better consistency across reporting periods.
In estimating the normalized core tax rate annually, the Company utilizes a full-year financial projection of core earnings that considers the mix of earnings across tax jurisdictions, existing tax positions, and other significant tax matters. The
Company may adjust the normalized core tax rate during the year for material impacts from new tax legislation or material changes to the Companys operations.
Detailed definitions of certain of the core financial measures are included above under Definitions and a reconciliation of the disclosed core
financial measures to the most directly comparable U.S. GAAP financial measures is included under the heading Supplemental Data at the end of this release.
Meeting and Replay Information: Jabil will hold a conference call today at 8:30 a.m. ET to discuss its earnings for the first quarter of fiscal year
2024. To access the live audio webcast and view the accompanying slide presentation, visit the Investor Relations section of Jabils website, located at https://investors.jabil.com. An archived replay of the webcast will also be available after
completion of the call.
About Jabil: Jabil (NYSE: JBL) is a manufacturing solutions provider with over 250,000 employees across 100 locations in
30 countries. The worlds leading brands rely on Jabils unmatched breadth and depth of end-market
experience, technical and
design capabilities, manufacturing know-how, supply chain insights and global product
management expertise. Driven by a
common purpose, Jabil and its people are committed to making a positive impact on their local community and the
environment. Visit www.jabil.com to learn more.
Investor
Contact
Adam Berry
Vice President, Investor
Relations
Adam_Berry@jabil.com