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Mar 31, 2024
Kimball Electronics Q3 2024 Earnings Report
Reported a net loss due to impairment of the Automation, Test & Measurement business, restructuring expenses, offset by a legal settlement recovery, while focusing on EMS operations and cost alignment.
Key Takeaways
Kimball Electronics reported Q3 fiscal 2024 results with net sales of $425.0 million and a net loss of $6.1 million, or $0.24 per share. Excluding certain items, adjusted net income was $8.4 million, or $0.34 per diluted share. The company is sharpening its strategic focus on EMS operations and divesting its Automation, Test & Measurement business.
Net sales totaled $425.0 million; net loss was $6.1 million, or $0.24 per share.
Adjusted net income was $8.4 million, or $0.34 per diluted share, excluding specific items.
Cash flow from operating activities was $42.6 million due to inventory reductions.
Strategic focus sharpened on EMS operations with cost structure aligned to demand.
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 reiterated its guidance for adjusted operating income in fiscal year 2024 of 4.2% to 4.6% of net sales. Net sales are now expected to decline 4% to 6%. Capital expenditures are estimated to be in the range of $55 to $60 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income