Standex Q2 adj. EPS $1.78 (+2.3%), revenue $178.4M (-5.0%); record margins, dividend raised

STANDEX INTERNATIONAL CORP/DE/

2024-Q2 EPS reported $3.17 revenue$363,174,000

GAAP diluted EPS $1.61; adjusted diluted EPS $1.78 (up 2.3% YoY); revenue $178.4M down 5.0%.
Record adjusted gross margin 40.3% (+180 bps) and adjusted operating margin 16.1% (+90 bps), 11th consecutive quarter.
Fast growth market sales ~$21M (+14% YoY); organic sales declined 7.4% due to project timing and transitory softness.
Expect to close acquisition of Sanyu Switch in fiscal Q3 2024; quarterly dividend raised 7.1% to $0.30/share.
Free cash flow $19.5M in Q2, YTD record $31.6M; capex guidance revised to $25-30M for FY2024.

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