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 the promotion of Flavio Maschera to Chief Innovation & Technology Officer, a newly established role to enhance the company's growth strategy. Maschera, who has been with Standex for 15 years, will succeed James Hooven as President of the Engraving segment. Hooven, previously Vice President of Operations and Supply Chain, will lead the Engraving business. David Dunbar, CEO, emphasized the importance of innovation in targeting emerging markets like renewable energy and electric vehicles.
Standex International Corporation (NYSE:SXI) is set to announce its fourth quarter fiscal 2021 financial results on August 12, 2021, after market close. A live conference call will follow on August 13, 2021, at 8:30 a.m. ET, where the CEO David Dunbar and CFO Ademir Sarcevic will discuss the results, business highlights, and upcoming outlook. Interested investors can access the webcast through the company's website, with a replay available shortly after the event.
Standex International Corporation (NYSE: SXI) announced that CEO David Dunbar will present at the Jefferies 2021 Virtual Industrials Conference on August 4, 2021, at 3:00 PM ET. Interests can access the live webcast and presentation through the Investor Relations section of Standex's website. A replay will be available shortly after the event.
Standex operates in five diverse business segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions, with a global presence across multiple countries.
Standex International Corporation (NYSE: SXI) has declared a quarterly cash dividend of $0.24 per share, payable on August 25, 2021, to shareholders on record as of August 2, 2021. This marks the company's 228th consecutive quarterly cash dividend, showcasing its consistent commitment to shareholder returns since becoming public in November 1964. Standex operates in five sectors: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions, with a global presence across several countries.
Standex International Corporation (NYSE:SXI) has announced the appointment of Robin J. Davenport, Vice President of Corporate Finance at Parker-Hannifin Corporation, as an observer and advisor to its Board of Directors. Ms. Davenport will be nominated for election at Standex's 2021 Annual Shareholders Meeting. She brings extensive experience in M&A, capital allocation, and corporate strategy from her tenure at Parker-Hannifin and previous roles at CNH Capital Corporation. This strategic addition aims to strengthen Standex's financial and operational oversight.
Standex International Corporation (NYSE:SXI) reported its third-quarter fiscal 2021 results, showcasing a 10.8% year-over-year increase in net sales to $172.2 million. However, GAAP net income from continuing operations dropped 85.4% to $1.8 million and operating income decreased by 66.6% to $5.7 million. On a positive note, adjusted operating income rose 19.2% to $21.0 million. Strong demand in the Electronics segment, particularly from electric vehicles and renewable energy, significantly contributed to revenue growth. The company expects moderate revenue increases in the next quarter.
Standex International Corporation (NYSE:SXI) will release its third quarter fiscal 2021 financial results on May 6, 2021, after market close. A live conference call is scheduled for May 7, 2021, at 8:30 a.m. ET, where CEO David Dunbar and CFO Ademir Sarcevic will discuss the financial results and outlook. Investors can access the webcast via the Investors section on Standex's website, with a replay available afterward.
Standex International Corporation (NYSE: SXI) has declared a quarterly cash dividend of $0.24 per share, payable on May 25, 2021, to shareholders of record by May 11, 2021. This marks the company's 227th consecutive quarterly dividend, maintaining a consistent dividend payout since going public in November 1964. The announcement reflects the company’s commitment to return value to its shareholders.
Standex International Corporation (NYSE: SXI) announced the divestiture of its jet engine components business, Enginetics Corporation, to Enjet Aero, LLC, for approximately $11.5 million in cash. Enginetics generated around $9 million in revenue in the first nine months of fiscal 2021. The company expects to incur non-cash charges between $14.5 million and $15.5 million, primarily related to goodwill. This sale allows Standex to focus on higher growth opportunities in its core spin forming solutions business, enhancing its operating margin and maintaining financial flexibility.
Standex International Corporation (NYSE: SXI) will present at the Sidoti & Company's Spring 2021 Virtual Investor Conference on March 24, 2021, at 1:45 PM Eastern Time. The presentation will feature Chairman, President & CEO David Dunbar and Vice President, CFO & Treasurer Ademir Sarcevic. Interested participants can access the live webcast through a provided link, and a replay will be available on the company's website for thirty days. Standex operates in multiple sectors including Electronics, Engraving, and Scientific Technologies across various global locations.
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