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Mar 31, 2023
Kimball Electronics Q3 2023 Earnings Report
Reported record revenue and expanding operating margin.
Key Takeaways
Kimball Electronics reported an all-time quarterly high in revenue, reaching $484.7 million, a 32% increase year-over-year. Operating income was $25.2 million, or 5.2% of net sales, compared to $20.3 million, or 5.5% of net sales, in the same period last year. The company is updating its outlook for fiscal year 2023 with sales expected at the high-end and adjusted operating margin in the mid-to-low end of its guidance range.
Net sales reached an all-time quarterly high of $484.7 million, up 32% year-over-year.
Operating income was $25.2 million, or 5.2% of net sales.
Adjusted operating income was $25.6 million, or 5.3% of net sales.
Net income was $16.4 million, or $0.65 per diluted share.
Revenue by Segment
Forward Guidance
The company is updating its outlook for fiscal year 2023, with sales expected at the high-end and adjusted operating margin in the mid-to-low end of its guidance range.
Positive Outlook
- Net sales in the range of $1.7 - $1.8 billion, a 26% - 33% increase compared to the prior year
- Solid finish in the fourth quarter
- Ramping up new and existing programs
- Leveraging recent facility expansions in Thailand and Mexico
- Path to $2 billion in annual revenue is within our sights
Challenges Ahead
- Macro environment remains challenging
- Global economic conditions
- Geopolitical environment and conflicts such as the war in Ukraine
- Global health emergencies including the COVID-19 pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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