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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.
Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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