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Mar 31, 2022
Kimball Electronics Q3 2022 Earnings Report
Reported record sales and strong operating margin.
Key Takeaways
Kimball Electronics reported an all-time quarterly high in net sales, increasing by 19% year-over-year to $368.1 million. Operating income also saw an improvement, reaching $20.3 million, or 5.5% of net sales, an 80 basis point increase compared to the same quarter last year. Diluted EPS increased by more than 30% year-over-year.
Net sales reached an all-time quarterly high of $368.1 million, a 19% increase year-over-year.
Operating income was $20.3 million, representing 5.5% of net sales, an 80 basis point improvement from the previous year.
Net income increased to $13.6 million, or $0.54 per diluted share, a 30% improvement compared to Q3 last year.
The company expects a strong pace to carry through the fourth quarter, with net sales between $370 to $390 million and operating margin above 5%.
Kimball Electronics
Kimball Electronics
Kimball Electronics Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.comMedical Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
The company updated its fiscal year 2022 guidance for net sales to be in the range of $1.345 - $1.365 billion, a 4% - 6% increase year-over-year. They expect the fourth quarter to be robust with net sales in the range of $370 to $390 million, and operating margin once again above 5%.
Positive Outlook
- Net sales are estimated to be in the range of $1.345 - $1.365 billion, a 4% - 6% increase year-over-year.
- Expects the fourth quarter to be robust with net sales in the range of $370 to $390 million.
- Operating margin is expected to be above 5% in the fourth quarter.
- Record level of open orders supports growth objectives.
- Recent facility expansions support growth objectives.
Challenges Ahead
- Supply chain disruptions from the pandemic continue to normalize and improve.
- Recent wave of lockdowns in China add a level of unpredictability.
- Uncertainty from developments in China may impact supply chain.
- Uncertainty from developments in China may impact demand.
- Global economic conditions and geopolitical environment may impact future performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income