KIMBALL ELECTRONICS Reports Q1 FY 2024 Earnings Results
November 20, 2023
🌥️Earnings Overview
On November 6 2023, KIMBALL ELECTRONICS ($NASDAQ:KE) revealed its financial results for the first quarter of Fiscal Year 2024, registering total revenue of USD 438.1 million, which was a 7.9% increase year-on-year. Net income for the quarter also saw a 13.0% rise, coming in at USD 10.8 million.
Market Price
On Monday, KIMBALL ELECTRONICS released their first quarter FY 2024 earnings results. During the trading session, the stock opened at $27.4 and closed at $27.0, representing a 0.7% decline from the previous day’s closing price of 27.2. The disappointing financial results have been reflected in the stock price. Investors have been concerned about lackluster sales and profits, causing Kimball Electronics’ stock to decline by 0.7% since Monday’s opening price.
However, analysts remain optimistic about the company’s future prospects and are hopeful that its new initiatives will help it recover quickly in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kimball Electronics. More…
| Total Revenues | Net Income | Net Margin |
| 1.86k | 56.99 | 3.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kimball Electronics. More…
| Operations | Investing | Financing |
| 59.19 | -82.45 | 62.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kimball Electronics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.26k | 734.9 | 21.26 |
Key Ratios Snapshot
Some of the financial key ratios for Kimball Electronics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.0% | 26.2% | 5.2% |
| FCF Margin | ROE | ROA |
| -1.3% | 11.4% | 4.7% |
Analysis
At GoodWhale, we analyzed KIMBALL ELECTRONICS’s financials using our Star Chart tool. The results show KIMBALL ELECTRONICS as strong in asset, growth, and medium in profitability, but weak in dividend. Overall, KIMBALL ELECTRONICS has an intermediate health score of 6/10 considering its cashflows and debt, making it likely to sustain operations in times of crisis. We classified KIMBALL ELECTRONICS as a ‘cheetah’ type of company, which suggests that it has achieved high revenue or earnings growth but may be considered less stable due to lower profitability. These results suggest that investors looking for high growth prospects may be interested in KIMBALL ELECTRONICS, while investors looking for more stability may want to look elsewhere. More…
Peers
The company is a leading provider of electronic manufacturing services to original equipment manufacturers in the automotive, industrial, and medical markets. Kimball Electronics has a diversified customer base that includes many Fortune 500 companies. The company operates manufacturing facilities in the United States, Mexico, China, Poland, Hungary, and Estonia. Kimball Electronics is a global company with a strong commitment to providing the highest quality products and services to its customers. The company’s competitors include Kitron ASA, CWB Automotive Electronics Co Ltd, and Xinya Electronic Co Ltd.
– Kitron ASA ($LTS:0F0J)
The company’s market cap is 4.48B as of 2022 and its ROE is 13.34%. The company is engaged in the development, manufacture and marketing of products and solutions for the electronics, semiconductor and other high-tech industries. The company has a strong focus on research and development, and has a number of leading products and technologies.
– CWB Automotive Electronics Co Ltd ($SHSE:605005)
Founded in 1997, CWB Automotive Electronics Co Ltd is a leading manufacturer of automotive electronics products, including navigation systems, infotainment systems, and driver assistance systems. The company has a market cap of 6.28B as of 2022 and a Return on Equity of 7.25%. CWB Automotive Electronics Co Ltd’s products are used by major automakers around the world, including Audi, BMW, Mercedes-Benz, Porsche, and Volkswagen.
– Xinya Electronic Co Ltd ($SHSE:605277)
Xinya Electronic Co Ltd is a publicly traded company with a market capitalization of 3.39 billion as of 2022. The company has a return on equity of 11.2%. Xinya Electronic Co Ltd is engaged in the manufacture and sale of electronic products. The company’s products include digital cameras, digital camcorders, digital photo frames, and other electronics products.
Summary
Investors should take a closer look at Kimball Electronics after their impressive first quarter earnings of Fiscal Year 2024. Revenue grew by 7.9%, bringing in a total of USD 438.1 million, and net income rose 13.0%, to USD 10.8 million. These results demonstrate the company’s sound performance and should offer investors confidence in the stock. It is worth evaluating Kimball Electronics as a potential investment, as its strong financials suggest that it is well-positioned for future growth.
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