Jabil (JBL) Q1 FY2026 earnings: revenue $8.3 billion, up 18.7% on the year

Jabil Inc. (JBL) reported revenue of $8.3 billion for Q1 FY2026, the quarter ended 30 November 2025, up 18.7% on the same quarter a year earlier. Net income was $146 million, up 46.0% on the year, and diluted earnings per share $1.35. The figures are the company's own, from the 10-Q it filed with the SEC on 9 January 2026.

Revenue

$8.3 billion

+18.7% on the year · +0.6% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

3.4%

2.8% a year earlier

Q2 FY2024Q1 FY2026

Net income

$146 million

+46.0% on the year · -33.0% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.35

+53.4% on the year · -32.2% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 8 new, 1 kept.

Quarter revenue and earnings reported: Net revenue was $8.3 billion against $6,994 million a year earlier. U.S. GAAP operating income was $283 million, GAAP diluted EPS was $1.35, and core diluted EPS was $2.85 against $2.00.
Quarter ahead of expectations: The CEO said first-quarter performance was ahead of expectations across revenue, core operating margins and core EPS.
Intelligent Infrastructure drives growth: Management called Intelligent Infrastructure a growth engine, with demand accelerating across cloud, data center infrastructure, networking and capital equipment.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	8,305	8,252	6,994	+0.6%	+18.7%
Cost of revenue	7,563	7,469	6,388	+1.3%	+18.4%
Gross profit	742	783	606	-5.2%	+22.4%
Gross margin	8.9%	9.5%	8.7%
Research and development	7.0	4.0	8.0	+75.0%	-12.5%
Selling, general and administrative	344	287	305	+19.9%	+12.8%
Operating income	283	337	197	-16.0%	+43.7%
Operating margin	3.4%	4.1%	2.8%
Interest expense	34.0	35.0	38.0	-2.9%	-10.5%
Pre-tax income	220	279	139	-21.1%	+58.3%
Income tax	74.0	61.0	39.0	+21.3%	+89.7%
Effective tax rate	33.6%	21.9%	28.1%
Net income	146	218	100	-33.0%	+46.0%
Net margin	1.8%	2.6%	1.4%
Diluted EPS	$1.35	$1.99	$0.88	-32.2%	+53.4%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	323	588	312	-45.1%	+3.5%
Capital expenditure	95.0	169	97.0	-43.8%	-2.1%
Free cash flow	228	419	215	-45.6%	+6.0%
Free cash flow margin	2.7%	5.1%	3.1%
Cash from investing	-180	-136	-136
Cash from financing	-503	-39.0	-312
Depreciation and amortisation	267	52.0	182	+413.5%	+46.7%
Share-based compensation	63.0	23.0	44.0	+173.9%	+43.2%
Buybacks	300	25.0	232	+1,100.0%	+29.3%
Dividends paid	10.0	8.0	10.0	+25.0%	0.0%
Dividend per share	$0.08	$0.08	$0.08	0.0%	0.0%
Diluted shares, weighted	108m	109m	114m	-0.8%	-5.0%
Shares outstanding at period end	107m	107m	112m	-0.6%	-4.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	1,344	1,513	1,593	-11.2%	-15.6%
Non-controlling interest	3.0	4.0	0.0	-25.0%
Debt	2,887	2,885	2,882	+0.1%	+0.2%
Operating lease liabilities	385	388	304	-0.8%	+26.6%
Finance lease liabilities	n/a	166	n/a
Other liabilities	14,657	13,587	12,992	+7.9%	+12.8%
Total liabilities and equity	19,276	18,543	17,771	+4.0%	+8.5%
Goodwill	887	841	670	+5.5%	+32.4%
Intangible assets	297	273	168	+8.8%	+76.8%
Cash and equivalents	1,572	1,933	2,058	-18.7%	-23.6%
Receivables	4,421	4,039	3,718	+9.5%	+18.9%
Inventory	4,681	4,681	4,320	0.0%	+8.4%
Other assets	7,418	6,776	6,837	+9.5%	+8.5%
Total assets	19,276	18,543	17,771	+4.0%	+8.5%

Questions

What was Jabil's revenue in Q1 FY2026?

Jabil (JBL) reported revenue of $8.3 billion for Q1 FY2026, the quarter ended 30 November 2025, up 18.7% on the same quarter a year earlier.

How much did Jabil earn in Q1 FY2026?

Net income for Q1 FY2026 was $146 million, up 46.0% on the year, and diluted earnings per share $1.35.

When did Jabil report Q1 FY2026 results?

Jabil filed its 10-Q for the quarter ended 30 November 2025 with the SEC on 9 January 2026.

Quarterly results, the last 20 quarters

	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *
Revenue	8,567	7,553	8,328	9,030	9,635	8,134	8,475	8,458	8,387	6,767	6,765	6,964	6,994	6,728	7,828	8,252	8,305	8,282	8,751	10,616
Cost of revenue	7,892	6,944	7,709	8,301	8,892	7,473	7,778	7,692	7,612	6,137	6,157	6,301	6,388	6,152	7,147	7,469	7,563	7,536	7,923	9,615
Gross profit	675	609	619	729	743	661	697	766	775	630	608	663	606	576	681	783	742	746	828	1,001
Gross margin	8%	8%	7%	8%	8%	8%	8%	9%	9%	9%	9%	10%	9%	9%	9%	9%	9%	9%	9%	9%
R&D	9.0	8.0	8.0	8.0	9.0	8.0	8.0	9.0	10.0	10.0	9.0	10.0	8.0	7.0	7.0	4.0	7.0	7.0	9.0	7.0
SG&A	308	280	282	284	319	285	307	295	314	308	268	270	305	256	274	287	344	329	340	n/a
Operating income	350	313	321	409	362	359	375	441	303	1,131	261	318	197	245	403	337	283	374	445	602
Operating margin	4%	4%	4%	5%	4%	4%	4%	5%	4%	17%	4%	5%	3%	4%	5%	4%	3%	5%	5%	6%
Interest expense	33.0	33.0	39.0	46.0	61.0	72.0	83.0	-10.0	47.0	47.0	38.0	41.0	38.0	37.0	37.0	35.0	34.0	43.0	51.0	53.0
Pre-tax income	317	284	278	352	299	287	306	370	235	1,062	201	253	139	184	290	279	220	300	366	522
Tax rate	24%	22%	22%	11%	25%	28%	24%	58%	17%	13%	36%	45%	28%	36%	23%	22%	34%	26%	25%	24%
Net income	241	222	218	315	223	207	233	155	194	927	129	138	100	117	222	218	146	223	275	398
Net margin	3%	3%	3%	3%	2%	3%	3%	2%	2%	14%	2%	2%	1%	2%	3%	3%	2%	3%	3%	4%
Diluted EPS	$1.63	$1.51	$1.52	$2.24	$1.61	$1.52	$1.72	$1.15	$1.47	$7.31	$1.06	$1.18	$0.88	$1.06	$2.03	$1.99	$1.35	$2.08	$2.59	$3.76
Operating cash flow	-46.0	246	545	906	166	414	468	686	448	218	515	535	312	334	406	588	323	411	535	733
Capital expenditure	281	423	364	317	314	323	223	170	288	266	106	124	97.0	116	86.0	169	95.0	103	184	246
Free cash flow	-327	-177	181	589	-148	91.0	245	516	160	-48.0	409	411	215	218	320	419	228	308	351	487
Buybacks	127	145	203	221	161	127	154	45.0	500	825	499	676	232	404	339	25.0	300	300	291	169
Dividends paid	14.0	11.0	12.0	11.0	12.0	11.0	11.0	11.0	12.0	10.0	10.0	10.0	10.0	9.0	9.0	8.0	10.0	8.0	9.0	8.0
Shares outstanding	144m	142m	139m	135m	134m	133m	131m	131m	129m	122m	119m	114m	112m	110m	107m	107m	107m	106m	105m	104m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 November 2025, filed 9 January 2026: the filing.