Jabil's AI growth to drive fiscal 2026 revenue, despite flat or declining other segments.

Jabil Inc. is set to report Q4 earnings, with focus on its fiscal 2026 outlook, particularly AI and cloud-related revenue. Analyst Ruplu Bhattacharya expects AI revenue to rise 25% YoY to $10.5 bln, while other end markets are expected to stay flat or decline. The analyst reaffirmed a Buy rating with a price forecast of $245, based on estimated calendar 2026 earnings of $11.69 per share.

Jabil Inc. (JBL), a leading electronics manufacturing services provider, is poised to report its fiscal fourth-quarter earnings on Thursday, September 25. Investor attention will primarily focus on the company's outlook for fiscal 2026, with a particular emphasis on its AI and cloud-related revenue.

Analyst Ruplu Bhattacharya at Bank of America has reaffirmed a Buy rating on Jabil stock, with a price forecast of $245. This prediction is based on an estimated calendar 2026 earnings of $11.69 per share, implying a multiple of 21 times. Bhattacharya expects AI-related revenue to rise 25% year-over-year to $10.5 billion, up from $8.5 billion in fiscal 2025 Jabil Set For Major AI Growth As Other Segments Falter: Analyst^[1].

While AI and cloud demand are projected to remain a key growth driver in fiscal 2026, other end markets are anticipated to stay flat or decline. The analyst models $30.8 billion in revenue for fiscal 2026, a 5.6% operating margin, and $10.94 EPS, broadly in line with Street estimates Jabil Set For Major AI Growth As Other Segments Falter: Analyst^[1].

Jabil's new North Carolina facility, a $500 million investment, is set to begin production in mid-2026, which will push fiscal 2026 capital expenditures to approximately $540 million, or 1.8% of revenue Jabil Set For Major AI Growth As Other Segments Falter: Analyst^[1]. Additionally, the company's CEO, Mike Dastoor, met with Indian Prime Minister Narendra Modi in July to discuss a new facility in Gujarat, India, focused on supporting the cloud, computing, storage, networking, and semiconductor markets.

For fiscal year 2026, revenue from the automotive and renewable energy segments is expected to decline year-over-year, although there could be some short-term gains before energy tax credits expire at the end of the year. Healthcare revenue is expected to remain largely flat, with Jabil’s facility for GLP-1 drugs in Croatia currently idle Jabil Set For Major AI Growth As Other Segments Falter: Analyst^[1].

Jabil's stock has shown positive price action, trading higher by 0.92% to $235.38 at last check on Tuesday Jabil Set For Major AI Growth As Other Segments Falter: Analyst^[1].