secwatch.observer — SEC 8-K summary
======================================

Issuer:     Kimball Electronics, Inc. (KE)
CIK:        0001606757
Form:       8-K
Filed at:   2024-11-04T23:59:59+00:00
Accession:  0001606757-24-000054
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimball Electronics Q1 net sales $374M, EPS $0.12; plans closure of Tampa facility with $8-11M exit costs
--------------------------------------------------------------------------------

- Net sales $374.3M, down 14.6% YoY from $438.1M; operating income $9.1M (2.4% of sales) vs $19.5M (4.4%).
- GAAP diluted EPS $0.12 (vs $0.43); adjusted diluted EPS $0.22 (vs $0.48); adjusted measures now exclude stock compensation.
- Board approved closure of Tampa manufacturing facility by end of fiscal year; expects $8M-$11M total exit costs ($6-7M termination, $2-3M logistics).
- Completed divestiture of Automation, Test, and Measurement business; no deal terms disclosed.
- Operating cash flow $45.5M; credit facility borrowings at 2-year low; confirms FY2025 guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606757/000160675724000054/0001606757-24-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606757/000160675724000054/ke-20241104.htm
  HTML page:      https://secwatch.observer/filing/0001606757-24-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer