Jabil Inc

Strong FY26 finish; momentum carrying into FY27 (guidance raised by execution) - Q4 revenue ~$10.6B (+29% YoY) and core EPS $4.40 (+34% YoY)—both exceeded the high end of guidance, with upside led by Intelligent Infrastructure and Regulated Industries. - FY26 cash generation strong: cash from operations ~ $2.0B; adjusted FCF > $1.5B (exceeded initial FY26 outlook $1.3B). - Company frames unprecedented growth: expects to add >$8.5B revenue in FY27 after >$6B added in FY26—i.e., large scale growth already in the base.

FY27 growth driven by two engines: AI infrastructure + diversified regulated markets - Intelligent Infrastructure (AI/data center + capital equipment + networking/power/cooling): - Q4 revenue ~$5.8B (+56% YoY) and ~$900M above June outlook. - Key drivers: AI demand accelerating, capacity came online sooner, and customer ramps better than planned; also improved power performance and Hanley Energy acquisition margin accretion. - Management expects FY27 revenue +43% YoY; AI-related revenue +50%+ YoY; 5 customers > $1B annually (vs 1 two years ago); confidence supported by earlier design engagements and system-level integration capability. - Regulated Industries (auto/transport, defense/aerospace, healthcare, renewable/energy infrastructure): - Q4 revenue ~$3.4B (+9% YoY) above outlook; auto and renewables were key offsets for softer areas. - Outlook tone: automotive returning to growth with a more balanced tech mix, defense/aerospace gaining as programs move to production, healthcare expected to return to growth, energy infrastructure benefiting from improved conditions.

Near-term forecasts (Q1 and full-year) + segment expectations - Q1 FY27 revenue guidance: $10.6B–$11.4B - Regulated Industries: ~$3.5B (+~12% YoY) - Intelligent Infrastructure: ~$6.3B (+~63% YoY); AI demand “very strong” and customer ramps + incremental capacity supporting growth - Intelligent Devices & Robotics (renamed from Connected Living & Digital Commerce): ~$1.2B (~-10% YoY) - Q1 earnings guidance: GAAP diluted EPS $2.78–$3.18; core EPS $3.80–$4.20 - Full-year net interest expense: $390M–$400M; core tax rate ~20%. - (Call excerpt didn’t include explicit FY27 full-year net revenue/EPS numbers in the user-provided text, but the forward view is clearly anchored on this Q1 ramp and the FY27 $8.5B growth narrative.)