ST. PETERSBURG, FL – Jabil reported revenue of $6.8 billion for the third quarter of its fiscal year, down 20% from the $8.5 billion in revenue from the same quarter last year.

For the fourth quarter, the company projects revenue between $6.3 billion to $6.9 billion, with $28.5 billion in revenue expected for the full year.

"It's clear that Jabil has navigated a period of significant transformation this fiscal year: a year in which we divested our Mobility business, captured growth in the AI datacenter space, and experienced softness across multiple end-markets," said CEO Mike Dastoor. "Despite these moving pieces, we remain on track to deliver 5.6% in core margins and $8.40 of core diluted EPS in FY24, while generating more than $1 billion in adjusted free cash flow. At the same time, we’ve been working towards our commitment to repurchase $2.5 billion of our shares. And importantly, in the mid-to-longer-term we remain well-positioned to benefit from many of the world’s powerful trends in areas like datacenter power and cooling, electric and hybrid vehicles, healthcare and pharma solutions, semi-cap equipment, and automated warehousing to name a few."