ST. PETERSBURG, FL – Jabil announced $6.8 billion in revenue for the second quarter of its fiscal year, a year-over-year decline of 16.8%.

Looking ahead, the company projects revenue of $6.2 billion to $6.8 billion for the third quarter, and full-year revenue of $28.5 billion.

"Despite revenue headwinds this year, which are expected to be short-term, I’m pleased with the resiliency of our model and our team’s demonstrated ability to execute," said CEO Kenny Wilson. "Even under these conditions, we expect to deliver strong core operating margins and free cash flow in FY24.

"Fiscal year 24 was always going to be a transitional year for Jabil, one in which we successfully completed the largest transaction in the company’s history with the mobility sale, and the subsequent efforts by our teams to optimize our footprint and cost structure for the go-forward company. As I think about exiting this fiscal year as a more streamlined company, coupled with key opportunities across our diversified end-market portfolio, I am confident in our ability to expand margins year-on-year, while also delivering core EPS of $10.65 for FY25," he added.