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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.
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 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
- Availability or cost of raw materials and components
Revenue & Expenses
Visualization of income flow from segment revenue to net income