Standex Q2 adj. op. margin record 15.2%; $75M Procon sale; organic revenue +5.5% YoY

STANDEX INTERNATIONAL CORP/DE/

2023-Q2 EPS reported $3.21 revenue$368,389,000

GAAP diluted EPS $1.69, adjusted $1.74 (+20% YoY); net sales $187.8M (+1.1% YoY, +4.0% sequential).
Record adj. operating margin 15.2%, +160 bps YoY; seventh consecutive quarterly record.
Free cash flow $24M, ~120% conversion of GAAP net income; dividend raised 7.7% to $0.28/share payable Feb 24.
Announced sale of Procon business for ~$75M; proceeds for organic/inorganic growth and capital returns.
Q3 guidance: slight to moderate sequential revenue decrease; adj. op. margin slightly lower to similar, higher YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STANDEX INTERNATIONAL CORP/DE/ reported financial results for the second quarter ended December 31, 2022.

Period: the second quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On February 2, 2023, the registrant issued a press release announcing earnings for the second quarter ended December 31, 2022. A copy of the release is furnished herewith as Exhibit 99 and is incorporated herein by reference.

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STANDEX INTERNATIONAL CORP/DE/ filing history →

Source: SEC EDGAR

accession 0001437749-23-002582

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