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 Corporation (NYSE: SXI) announced that President & CEO David Dunbar will present at William Blair's Virtual 2022 What's Next for Industrials Conference on September 22, 2022. This event highlights the company's role in the industrial sector. Interested parties can access the presentation on the Investor Relations section of Standex's website and will have the opportunity to watch a webcast replay shortly after the event. Standex operates in various global markets, including the U.S., Europe, and Asia, across five major business segments.
Standex International Corporation (SXI) reported strong fourth quarter results for fiscal 2022, with net sales increasing by 4.7% year-over-year to $184.7 million. The adjusted operating margin reached a record 13.9%, up from 13.3% the previous year. The Electronics segment achieved record sales of $304 million, with total backlog increasing 22% year-over-year. Free cash flow generated in the quarter was approximately $19 million. Standex anticipates similar revenue and operating margins in the first quarter of fiscal 2023, with the Electronics segment expected to drive growth.
Standex International Corporation (NYSE:SXI) will have its President & CEO, David Dunbar, present at the Jefferies 2022 Industrials Conference on August 9, 2022, at 2:00 PM Eastern Time. Interested investors can access the live webcast and presentation through the Investor Relations section of Standex's website under Events and Presentations. A replay will also be available shortly after the presentation concludes. Standex operates across five segments, including Electronics and Scientific, with a global presence in several countries.
Standex International Corporation (NYSE:SXI) will report its fourth-quarter fiscal 2022 financial results on August 4, 2022, following market close. A live conference call will be held on August 5, 2022, at 8:30 a.m. ET, featuring President & CEO David Dunbar and CFO Ademir Sarcevic discussing the results, business highlights, and future outlook. Investors can access the webcast and presentation through the 'Investors' section on Standex's website, with a replay available post-presentation.
Standex International Corporation (NYSE: SXI) has declared a quarterly cash dividend of $0.26 per share, payable on August 25, 2022, to record shareholders on August 11, 2022. This marks the company's 232nd consecutive quarterly dividend since becoming public in November 1964. Standex operates across various sectors including Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions, with a global presence in multiple countries.
Standex International Corporation (NYSE:SXI) has authorized a new share repurchase program worth $100 million, commencing on May 10, 2022. This program replaces the previous buyback initiated in 2016, which had $0.6 million remaining at the end of Q3 fiscal 2022. President and CEO David Dunbar expressed confidence in the company’s financial stability, citing strong cash flow and a robust balance sheet to support this initiative. The repurchase may occur through various means, and there is no set timeline for completion.
Standex International reported strong Q3 fiscal 2022 results with net sales of $189.3 million, marking a 9.9% increase year-over-year. GAAP operating income surged by 333.1% to $24.5 million with an operating margin of 12.9%, up 960 basis points from the previous year. The company announced a new $100 million share repurchase authorization and achieved significant earnings growth, reflected in an adjusted diluted EPS of $1.54. Despite challenges from COVID-19 lockdowns in China, Standex reported a backlog of $267 million.
Standex International Corporation (NYSE:SXI) is set to announce its third quarter fiscal 2022 financial results on May 5, 2022, after market close. A conference call will occur at 8:30 a.m. ET on May 6, 2022, featuring CEO David Dunbar and CFO Ademir Sarcevic discussing financial results and outlook. Investors can listen to the live broadcast and access a replay on the company's website. Standex operates across five segments, including Electronics and Scientific, with a global presence in multiple countries.
Standex International Corporation (NYSE: SXI) announced a quarterly cash dividend of $0.26 per share, payable on May 25, 2022, to shareholders of record on May 11, 2022. This marks the company's 231st consecutive quarterly cash dividend since it became public in November 1964. Standex operates in five business segments globally, including Electronics and Engineering Technologies, with locations across the U.S., Europe, and more.
Standex International Corporation (NYSE:SXI) announced that its President & CEO, David Dunbar, along with CFO Ademir Sarcevic, will present at the Sidoti & Company Spring 2022 Virtual Investor Conference on March 23, 2022, at 11:30 AM Eastern Time. Interested investors can access the presentation via the 'Investors' section on Standex's website under 'Events and Presentations.' A replay will be available shortly after the event. Standex operates in five sectors globally, providing a diverse range of manufacturing solutions.
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