Standex Intl - SXI STOCK NEWS

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.

Standex International (NYSE: SXI) declared a quarterly cash dividend of $0.30 per share, marking a 7.1% year-on-year increase. This dividend, payable on May 24, 2024, to shareholders of record on May 10, 2024, represents the company's 239th consecutive quarterly cash dividend since November 1964.

Standex International Corporation (SXI) executives to participate in D.A. Davidson Best-of-Breed Bison Conference on March 8, 2024.

Standex International Corporation (SXI) has successfully closed its acquisition of Sanyu Switch Co., Ltd., expecting it to boost earnings and achieve a double-digit return on invested capital. The acquisition aligns with Standex's strategy of targeting high-margin businesses in rapidly expanding markets.

Standex International Corporation (NYSE: SXI) reported financial results for the second quarter of fiscal year 2024, with total net sales of $178.4 million, a 5.0% decrease year-on-year. GAAP gross margin was 40.2%, and adjusted gross margin was 40.3%. The company anticipates completing the acquisition of Sanyu Switch Co., Ltd in fiscal third quarter 2024. The company's long-term financial targets include organic revenue growth at a high-single-digit compounded annual rate, adjusted operating margin above 19%, and a return on invested capital above 15% by fiscal 2028.

Standex International Corporation (SXI) has declared a quarterly cash dividend of $0.30 per share, marking a 7.1% year-on-year increase. This is the company's 238th consecutive quarterly cash dividend, with dividends paid each quarter since November 1964.