Kimball Electronics Q1 net sales +8% to $438.1M; reduces FY2024 guidance to flat sales

Kimball Electronics, Inc.

2024-Q1 EPS reported $0.43 revenue$438,081,000

Net sales $438.1M (+8% YoY); operating income $19.5M (4.4% of sales) vs $13.6M last year.
Net income $10.8M ($0.43 diluted EPS) vs $9.5M ($0.38) in prior-year quarter.
FY2024 guidance cut: net sales now flat YoY (prev. 4-7% growth); operating income in line with FY2023 (prev. 4.7-5.2% of sales).
Vertical markets: Automotive +13%, Industrial +21%, Medical -12%.
Capital expenditure outlook unchanged at $70-80M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kimball Electronics, Inc. reported first quarter of fiscal 2024 results: revenue $438.1 million, net income $10.8 million, EPS $0.43 per diluted share. Guidance lowered.

Period: first quarter of fiscal 2024
Revenue: $438.1 million
Net income: $10.8 million
EPS: $0.43 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

INC. EXHIBIT 99.1 Document Exhibit 99.1 KIMBALL ELECTRONICS REPORTS Q1 RESULTS WITH STRONG START TO THE FISCAL YEAR; COMPANY UPDATES GUIDANCE FOR FISCAL 2024 • Net sales totaled $438.1 million, an 8% increase compared to the first quarter of fiscal 2023; foreign currency had a 1% favorable impact on net sales year-over-year. • Operating income of $19.5 million, or 4.4%

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Source: SEC EDGAR

accession 0001606757-23-000061

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