Jabil stock dropped in premarket trading Wednesday even as the contract manufacturer reported better-than-expected earnings for the fiscal fourth quarter and fiscal year.
Revenue for the quarter grew nearly 28% to $10.6 billion, well above consensus analysts' calls for $9.7 billion. Adjusted earnings of $4.40 a share surpassed Wall Street's projections of $4.07.
Shares of Jabil fell 2.7% to $310.50 Wednesday. The stock has risen 34% this year, according to Dow Jones Market Data.
CEO Mike Dastoor attributed the solid earnings for its fiscal fourth quarter and fiscal 2026 to significant growth in artificial-intelligence infrastructure. "These results reflect the progress we've made in moving up the value chain, taking on more of our customers' engineering and manufacturing complexity while maintaining an asset-light model," he said in a press release Wednesday.
The company reported $36 billion in revenue in fiscal 2026 and adjusted earnings of $13.09 a share.
Jabil outlined its projections for the fiscal first quarter of 2027, anticipating revenue of between $10.6 billion and $11.4 billion and adjusted earnings of $3.80 to $4.20.