ST. PETERSBURG, FL – Jabil announced revenue of $28.9 billion for its full fiscal year, representing a decrease of 16.7% from fiscal year 2023.

For the fourth quarter, the company saw $7 billion in revenue, down 21.6% from last year's fourth quarter.

"It’s evident that Jabil has undergone a substantial transformation this fiscal year: a year during which we sold our Mobility business, saw growth in the AI datacenter sector, and faced challenges in multiple end-markets," said CEO Mike Dastoor. "Despite these changes, we delivered core margins of 5.5% and $8.49 of core diluted EPS in FY24, while generating more than $1 billion in adjusted free cash flow. Additionally, we returned $2.5 billion to shareholders via buybacks. While short-term demand is facing challenges in certain end-markets, we are confident that in the mid-to-long term, we are well-positioned to capitalize on secular trends in areas such as datacenter power and cooling, electric and hybrid vehicles, healthcare and pharmaceutical delivery solutions, semiconductor equipment, and warehouse automation."

Looking ahead, the company projects $6.3 billion to $6.9 billion in revenue for its first quarter and annual revenue of $27 billion for fiscal year 2025.