JabilNYSE: JBL

Jabil (JBL) closed at $127.30 in the latest trading session, marking a -0.29% move from the prior day.

The 2024 OCP Global Summit highlighted a partnership aimed at providing AMD and Intel-based server platforms to improve cloud security. This event took place in San Jose, California, and St. Petersburg, Florida.

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Jabil Inc. (NYSE: JBL) has announced the expansion of its server lineup with the introduction of the J421E-S and J422-S servers, which utilize AMD's 5th Generation EPYC™ and Intel® Xeon® 6 processors. These servers are specifically designed for scalability across various cloud data center applications, such as AI, high-performance computing (HPC), fintech, networking, storage, databases, and security, showcasing Jabil's latest advancements in server technology.

The acquisition will enhance JBL's business opportunities in various sectors, such as AI data centers, semiconductors, battery systems, and electric vehicles, among others.

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Jabil Inc. (NYSE: JBL), a worldwide leader in design, manufacturing, and supply chain services, has announced that it successfully acquired Mikros Technologies LLC on October 1. Mikros Technologies specializes in engineering and producing liquid cooling solutions for managing heat. The growing use of artificial intelligence, energy storage, and electric vehicles is increasing the demand for high-power density systems in both consumer and commercial sectors.

Jabil's earnings for the fourth quarter exceeded expectations, with revenue surpassing the guidance midpoint by $400 million. The stock rose by 11.7%, although it remains 20% lower than its highest point ever. The company has moved away from its low-margin Apple business, improved its profit margins, and generated over $1 billion in free cash flow for the fiscal year 2024, positioning itself for future growth despite some ongoing challenges.

Jabil (JBL) shares jumped on Thursday after the circuit board maker reported stronger-than-anticipated results due to demand for artificial intelligence (AI). They also announced a stock buyback program and started a restructuring plan that involves cutting jobs.

Jabil Inc. (NYSE:JBL) will hold its Q4 2024 Earnings Conference Call on September 26, 2024, at 8:30 AM ET. The call will feature several company leaders, including CEO Mike Dastoor and CFO Greg Hebard, along with participants from various financial institutions. Adam Berry will open the call, welcoming everyone to Jabil's Fourth Quarter and Fiscal Year 2024 Earnings Call, which is also their 7th Annual Virtual Investor Briefing.

JBL has reported a decrease in revenue compared to the previous year for the fourth quarter of fiscal 2024, mainly due to weak demand in various markets. However, there has been significant growth in free cash flow, which is a positive factor.