Report published September 30, 2026

Jabil Circuit: 4QFY26 First Take – Goldman Sachs Equity Research

Goldman Sachs · September 30, 2026

Jabil reported 4QFY26 revenue and core EPS ahead of consensus, driven by strong performance in Intelligent Infrastructure, and initiated FY27 revenue and EPS guidance above Street estimates. Goldman Sachs reiterates its Buy rating with a 12-month price target of $375.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.Jabil delivered a solid 4QFY26 beat with revenue of $10,616 mn (up 28.6% yoy) and non-GAAP core EPS of $4.40, outpacing consensus expectations of $9,713 mn and $4.07.
2.Guidance for both 1QFY27 and full-year FY27 came in above Street expectations, driven by higher AI-related growth (raised to 54% from ~50%) and strong Cloud & Data Center Infrastructure demand.
3.Goldman Sachs reiterates a Buy rating and a 12-month price target of $375 (17.6% upside), though near-term stock reaction may be muted given high investor expectations for datacenter-exposed names.

Synopsis
Results
Outlook

Report data

Exhibit 1: JBL 4QFY26 variance summary — as of September 29, 2026.

Metric	Estimate	Context
Revenue	10616.0 USD mn	Reported 4QFY26 revenue exceeding GS estimate of $9,735 mn and FactSet consensus of $9,713 mn.
Core Operating EPS (Non-GAAP, ex-SBC)	4.4 USD	Above guidance midpoint of $4.00 and consensus of $4.07.
Non-GAAP Operating Income (ex-SBC)	675.0 USD mn	Non-GAAP EBIT ex-SBC was $675 mn, corresponding to a 6.4% margin.
Revenue Guidance (Midpoint)	11000.0 USD mn	Range of $10,600 mn to $11,400 mn vs Street at $9,991 mn.
Revenue Guidance	44.5 USD bn	Full-year guidance introduced above Street consensus of $42.8 bn.