Standex International Q1 sales beat estimates on electronics growth, strong end-market demand
Overview
US multi-industry manufacturer's Q1 sales rose yr/yr, beating analyst expectations
Adjusted EPS for Q1 beat analyst expectations
Company announced new $100 mln share repurchase authorization
Outlook
Standex raises FY27 outlook to high-single digits total sales growth
Company expects FY27 organic sales to rise by more than $100 mln
Standex expects high teens growth in FY27 adjusted EPS
Result Drivers
END MARKET DEMAND - Co said sales growth was driven by electrification, data center and defense needs, new products, and recovery in general industrial markets
ELECTRONICS SEGMENT - Electronics segment delivered 29.5% organic growth, supported by fast growth markets and new product sales
AUTOMOTIVE SOFTNESS - Co said Engraving & Hydraulics segment revenue declined due to softness in North American automotive market
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales | Beat | $232.60 mln | $228.81 mln (6 Analysts) |
Q1 Adjusted EPS | Beat | $2.41 | $2.34 (6 Analysts) |
Q1 EPS | $1.99 | ||
Q1 Adjusted EBITDA | $51.20 mln | ||
Q1 Adjusted EBIT Margin | 20.20% | ||
Q1 Adjusted Operating Income | $47 mln | ||
Q1 EBIT Margin | 17.40% | ||
Q1 Operating Income | $40.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for Standex International Corp is $330.00, about 34.9% above its October 28 closing price of $244.55
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 36 three months ago
Reuters Recommended Reads
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)