A month has gone by since the last earnings report for Jabil (JBL Quick QuoteJBL - Free Report) . Shares have added about 16.7% in that time frame, outperforming the S&P 500.

But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Jabil due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for Jabil, Inc. before we dive into how investors and analysts have reacted as of late.

Jabil Q1 Earnings Surpass Estimates on Strong Revenue Growth

Jabil reported strong first-quarter fiscal 2026 results, with both bottom and top lines surpassing the Zacks Consensus Estimate. The company reported a top-line expansion year over year, owing to healthy traction in the data center infrastructure, capital equipment and healthcare end-markets.

JBL’s Net Income

Net income on a GAAP basis in the quarter was $146 million or $1.35 per share compared with $100 million or 88 cents in the prior-year quarter. The improvement is primarily driven by top-line growth.


Non-GAAP net income in the reported quarter was $309 million or $2.85 per share compared with $228 million or $2 per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate of $2.72.

JBL’s Revenues

Net sales during the quarter increased to $8.3 billion from $6.99 billion reported in the year-ago quarter. The top line beat the consensus estimate of $8.07 billion. Solid demand in the Intelligent Infrastructure segment boosted the top line.

In the fiscal first quarter, the Regulated Industries segment contributed 37% to revenues. The 4% year-over-year growth is driven by healthy traction in the healthcare & packaging end market.

The Intelligent Infrastructure contributed 46% of total revenues, up 54% year over year. The healthy demand in the Capital Equipment, AI-related Cloud and Data Center Infrastructure verticals supported the net sales.

About 17% of the total revenues came from the Connected Living & Digital Commerce segment. The 10% year-over-year decline is due to soft demand for consumer-driven products. Strong growth in the digital commerce market partially reversed this trend.

JBL’s Other Details

Gross profit was $742 million compared with $606 million in the year-ago quarter. Non-GAAP operating income aggregated $454 million, up from $347 million in the year-ago period. Non-GAAP operating margin was 5.5% up from the year-ago quarter’s figure of 5%.

JBL’s Cash Flow & Liquidity

In the first quarter of fiscal 2026, Jabil generated $323 million of net cash from operating activities compared to $312 million a year ago. As of Nov. 30, 2025, the company had $1.57 billion in cash and cash equivalents, with $2.38 billion of notes payable and long-term debt. Free cash flow stands at $272 million compared to $226 million a year ago.

JBL’s Guidance

Management expects AI data center infrastructure, healthcare and advanced warehouse and retail automation to be the major growth drivers in 2026. For fiscal 2026, revenues are now projected at $32.4 billion. Non-GAAP earnings per share are expected to be $11.55. The company is expected to generate more than $1.3 billion in adjusted free cash flow.

How Have Estimates Been Moving Since Then?

Since the earnings release, investors have witnessed a upward trend in fresh estimates.

VGM Scores

At this time, Jabil has a strong Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of B on the value side, putting it in the top 40% for value investors.

Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Jabil has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.