Jabil Lowers FY24 Outlook After Q2 Revenue Dip, Stock Tumbles
Portfolio Pulse from Anusuya Lahiri
Jabil Inc (NYSE: JBL) reported a 16.8% year-on-year decrease in Q2 FY24 revenue, missing estimates with $6.77 billion. Adjusted EPS was $1.68, slightly above the consensus of $1.66. The company revised its FY24 revenue guidance downwards from $30.6 billion to $28.5 billion and expects core EPS of $8.40, down from $9.00+. JBL shares fell 16.20% to $123.44. Exposure to JBL can also be gained through SRHQ and QVAL ETFs.
March 15, 2024 | 3:26 pm
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NEGATIVE IMPACT
Jabil Inc reported a significant drop in Q2 FY24 revenue and lowered its FY24 guidance, causing a 16.20% decrease in its stock price.
The significant revenue miss and downward revision of FY24 guidance directly impact investor confidence and stock valuation, leading to a sharp decline in JBL's stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEGATIVE IMPACT
QVAL ETF, holding Jabil Inc, might see an indirect impact from Jabil's Q2 FY24 earnings miss and lowered FY24 outlook.
Given QVAL ETF's exposure to Jabil Inc, the disappointing Q2 FY24 results and negative revision in FY24 guidance of JBL could indirectly influence QVAL's performance, though diversification may mitigate the impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
SRHQ ETF, which offers exposure to Jabil Inc, may experience indirect impact due to Jabil's Q2 FY24 performance and revised FY24 guidance.
As SRHQ ETF includes Jabil Inc in its holdings, the negative performance and outlook of JBL could indirectly affect SRHQ's performance, albeit to a lesser extent due to diversification.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50