Welcome to our dedicated page for Standex International Corporation news (Ticker: SXI), a resource for investors and traders seeking the latest updates and insights on Standex International Corporation stock.
Standex International Corporation (NYSE: SXI) is a diversified global manufacturing company, leading in five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions. Based in the United States, the company operates across various international markets including Europe, Canada, Japan, Singapore, Mexico, and more.
The Electronics segment, contributing 42% of total sales, focuses on manufacturing and selling electronic components for applications across multiple end-user markets. This segment shows strong growth in industrial automation, power management, renewable energy technologies, and electric vehicle-related applications.
The Engraving segment is a market leader in developing and providing innovative solutions in surface texturing and enhancing product aesthetics. Recently, this segment has seen substantial demand in Europe and Asia, particularly in automotive and consumer goods sectors.
The Scientific segment delivers high-performance products and services for research and academic markets. Despite a slight dip in demand for COVID vaccine storage units, it continues to grow in other areas, supported by lower freight costs and efficiency improvements.
The Engineering Technologies segment designs and manufactures precision components and assemblies for aviation, space, and defense industries. This segment's strength lies in its robust backlog and new platform development projects, ensuring long-term growth.
The Specialty Solutions segment includes businesses like Hydraulics, which faced a recent downturn but is recovering through operational improvements and increased aftermarket focus.
Financial Performance: Standex recently announced a record fiscal year for 2023, with 7.8% organic growth in Q4, despite some challenges like foreign exchange impacts and a business unit divestiture. The company achieved record gross margins and a consistent operating margin above 15%. Key segments contributed to this performance, especially through strategic pricing, productivity initiatives, and reduced freight costs.
Strategic Moves and Outlook: Standex is strategically positioned to pursue growth through both organic and inorganic opportunities. The recent acquisition of Minntronix expands its reach in fast-growing markets such as 5G and smart grid technologies. Another acquisition, Sanyu Switch Co., Ltd., is expected to enhance the company's relay product line and global footprint. Moving forward, Standex anticipates continued growth with a targeted sales increase in fiscal year 2024 and maintaining strong margins.
The company's leadership regularly engages with investors, providing transparent and detailed financial results and future outlooks. They remain cautiously optimistic about improving market conditions in China and Europe and are committed to achieving long-term financial targets by fiscal 2028.
For more detailed insights, visit their official website.
Standex International (NYSE:SXI) has acquired Michigan-based Custom Biogenic Systems (CBS) for $6.2 million in cash, financed from existing cash balance. CBS, a leader in cryogenic equipment manufacturing with estimated $15 million in revenues for 2024, will be integrated into Standex's Scientific business segment. The acquisition expands Standex's scientific refrigeration business into liquid nitrogen and controlled rate freezer markets. CBS specializes in developing advanced cryogenic equipment with dry liquid nitrogen technology for pharmaceutical and biobank markets. The acquisition is expected to be earnings accretive in the first year.
Northern Edge Advisors has successfully facilitated the sale of Amran Instrument Transformers and Narayan Powertech to Standex International (NYSE: SXI) in a landmark deal valued at $462 million. The transaction, involving both cash and stock considerations, represents Standex's largest acquisition to date. The Amran/Narayan Group, with manufacturing facilities in the US and India, is a market leader in instrument transformers serving customers in over 60 countries. The founders and leadership team will remain post-acquisition, working with Standex to drive continued growth. The deal aligns with Standex's strategy to focus on higher-margin business segments in faster-growing markets.
Standex International (NYSE: SXI) has acquired Amran Instrument Transformers and Narayan Powertech in a landmark $462 million deal, marking Standex's largest acquisition to date. The Amran/Narayan Group, with manufacturing presence in the US and India, is a leading manufacturer of low-voltage and medium-voltage instrument transformers serving over 60 countries. Their products are important for electrical grid applications, smart grid technology, data centers, and renewable energy systems. The acquisition will enhance Standex Electronics' portfolio, with Amran/Narayan's founders and leadership team continuing their involvement to support integration and growth initiatives.
Standex International (NYSE: SXI) has announced a change in its investor conference call schedule. The call will now take place at 10:00 a.m. ET today, replacing the originally planned call for October 30, 2024. During the call, President & CEO David Dunbar and CFO & Treasurer Ademir Sarcevic will discuss the company's first quarter fiscal 2025 financial results and the acquisition of Amran Instrument Transformers and Narayan Powertech. Investors can access the webcast and presentation slides through the 'Investors' section of Standex's website.
Standex International (NYSE: SXI) has acquired US-based Amran Instrument Transformers and India-based Narayan Powertech in transactions valued at approximately $462 million. The acquisitions, comprising both cash and stock, expand Standex's presence in the electrical grid market. Amran/Narayan Group, with manufacturing locations in the US and India, expects revenues of approximately $100 million in CY 2024 with an adjusted EBITDA margin above 40%. The group has grown revenue at ~30% CAGR over the last three years. The transactions are expected to be immediately accretive to Standex's revenue growth, EBITDA margin, operating margin, EPS, and free cash flow. Post-acquisition, Standex Electronics will represent more than 50% of the company.
Standex International (NYSE: SXI) reported fiscal Q1 2025 results with sales declining 7.7% to $170.5M. Despite revenue decline, the company achieved record gross margin of 41.1%, up 240 bps sequentially. The company announced acquisition of Amran/Narayan Group, its largest acquisition ever, expected to be immediately accretive to revenue growth, margins, and EPS. Adjusted operating margin remained stable at 15.9%, while adjusted EPS decreased 1.7% to $1.71. The company maintains a strong balance sheet with net cash position of $15.6M and expects market conditions to improve in second half of fiscal 2025.
Standex International (NYSE: SXI) has scheduled its first quarter fiscal 2025 financial results announcement for Tuesday, October 29, 2024, after market close. The company will host a conference call and webcast on Wednesday, October 30, 2024, at 8:30 a.m. ET. President & CEO David Dunbar and CFO & Treasurer Ademir Sarcevic will discuss quarterly results, business highlights, and outlook. Investors can access the webcast and presentation slides through the 'Investors' section of Standex's website.
Standex International (NYSE: SXI) has announced that its Board of Directors declared a quarterly cash dividend of $0.32 per share, representing a 6.7% increase compared to the previous year. The dividend will be paid on November 22, 2024, to shareholders of record as of November 8, 2024. This marks the company's 241st consecutive quarterly dividend payment, maintaining an unbroken streak since becoming public in November 1964.
Standex International (NYSE:SXI) has announced its participation in the D.A. Davidson 23rd Annual Diversified Industrials & Services Conference. The event will take place on Thursday, September 19, 2024, in Nashville, Tennessee. David Dunbar, President & CEO of Standex, will represent the company at the conference.
Investors and interested parties can access Standex's presentation through the company's official website. The presentation will be available in the Investor Relations section, under the Events and Presentations subheading at standex.com. This conference provides an opportunity for Standex to showcase its business strategies and connect with industry professionals and potential investors.
Standex International (NYSE: SXI) reported financial results for Q4 FY2024. Key highlights include:
- Q4 sales declined 4.3% to $180.2M, with acquisitions and fast growth markets partially offsetting organic decline
- Q4 adjusted operating margin of 16.0%, up 60 bps sequentially and YOY
- FY2024 record profit and cash generation:
- Adjusted gross margin of 39.4%, up 90 bps YOY
- Adjusted operating margin of 15.8%, up 60 bps YOY
- Free cash flow of $73M
For FY2025, Standex plans to release over a dozen new products, expecting to contribute over 100 bps of growth. Fast growth market sales are projected to grow >20% and exceed $110M. The company anticipates improved market conditions leading to a healthier growth backdrop in 2H FY2025.
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