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Jun 30, 2023
Kimball Electronics Q4 2023 Earnings Report
Reported record sales and operating income.
Key Takeaways
Kimball Electronics reported a strong Q4 and full-year fiscal 2023, marked by record sales and operating income. Q4 net sales increased by 33% compared to Q4 fiscal 2022, and operating income reached a record high. The company provided guidance for fiscal 2024, expecting continued top-line growth and operating income.
Net sales totaled $496.1 million, a 33% increase compared to Q4 fiscal 2022.
Operating income reached $31.4 million, or 6.3% of net sales, a record high for the Company.
Net income was $19.2 million, or $0.76 per diluted share.
Cash flow generated from operating activities was $44.1 million in Q4.
Kimball Electronics
Kimball Electronics
Kimball Electronics Revenue by Segment
Revenue by Segment
Automotive Revenue
CapyFin.comMedical Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
Kimball Electronics expects net sales in the range of $1.9 - $1.95 billion, a 4% - 7% increase year-over-year and operating income in the range of 4.7% - 5.2% of net sales.
Positive Outlook
- Solid funnel of new business opportunities
- Additional capacity from recent facility expansions, including Poland
- Ramping-up operations in Poznan throughout the fiscal year
- Inventory should normalize as global supply chain disruptions continue to ease
- Resulting cash flow generated will be directed toward reducing our leverage ratio
Challenges Ahead
- 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
- Foreign exchange rate fluctuations
Revenue & Expenses
Visualization of income flow from segment revenue to net income