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 announced its 240th consecutive quarterly cash dividend. The Board of Directors declared a quarterly dividend of $0.30 per share, representing an approximately 7.1% year-on-year increase. This dividend will be payable on August 23, 2024, to shareholders of record as of August 9, 2024. Standex has maintained a consistent record of paying dividends every quarter since becoming a public in November 1964, showcasing its commitment to shareholder returns.
Standex International (NYSE: SXI) has announced the timing for its fourth quarter fiscal 2024 financial results. The company will release its results on Thursday, August 1, 2024, after the market closes. A conference call and webcast are scheduled for Friday, August 2, 2024, at 8:30 a.m. ET.
During the call, President & CEO David Dunbar and CFO & Treasurer Ademir Sarcevic will review the company's financial results, business highlights, and outlook. Investors can access the webcast and slide presentation through the 'Investors' section of Standex's website under 'Events and Presentations'. A replay of the webcast will be available shortly after the presentation concludes.
Standex International (NYSE:SXI) has announced that its President & CEO, David Dunbar, will present at the CJS Securities 24th Annual New Ideas Summer Conference. The event will take place in White Plains, New York, on July 10, 2024. Those interested can access the presentation via the Investor Relations section on Standex's website, under Events and Presentations.
Standex International (SXI) will participate in the Barrington Research Virtual Spring Investment Conference with its President & CEO and CFO presenting on May 16, 2024. The presentation can be accessed on Standex's investor relations website.
Standex International (NYSE: SXI) reported financial results for the third quarter of fiscal year 2024, with total net sales of $177.3 million, GAAP gross margin of 38.5%, adjusted gross margin of 39.0%, and GAAP operating margin of 12.3%. The company completed the acquisition of Japanese-based Sanyu Switch Co., The fast growth market sales increased by 9% year-on-year to $26 million. Despite a 5.7% organic sales decline, the company expects a return to organic growth rates in FY25. Standex aims to achieve a long-term target of greater than 19% operating margin by fiscal year 2028. The company generated record free cash flow of $19.3 million in the fiscal third quarter and remains optimistic about the long-term trends in fast growth end markets.
Standex International (NYSE: SXI) will announce its third quarter fiscal 2024 financial results on Thursday, May 2, 2024, after the market closes. The conference call will be broadcast live over the Internet at 8:30 a.m. ET on Friday, May 3, 2024. David Dunbar, President & CEO, and Ademir Sarcevic, CFO & Treasurer, will discuss the company's financial results, business highlights, and outlook.
Investors can access the webcast and slide presentation on Standex's website under the 'Investors' section, 'Events and Presentations' subheading at www.standex.com. A replay will be available on the website after the presentation.
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