Kimball Electronics, Inc. Revises Earnings Guidance for the Fiscal Year 2024
February 05, 2024 at 04:05 pm
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Kimball Electronics, Inc. revised earnings guidance for the fiscal year 2024. The company updated its guidance for fiscal year 2024 with net sales expected to decline 2% to 4%, compared to fiscal year 2023. As a reminder, the previous guidance was an estimate of net sales flat with the prior year.
Operating income is now expected to be in the range of 4.2% to 4.6% of net sales, compared to the prior estimate of flat with fiscal 2023.
Kimball Electronics, Inc. is a multifaceted manufacturing solutions provider. The Company provides electronics manufacturing services (EMS), including engineering and supply chain support, to customers in the automotive, medical, and industrial end markets. It produces durable electronics and extends to contract manufacturing services for non-electronic components, medical disposables, drug delivery solutions, precision molded plastics, and production automation, test, and inspection equipment. Its services support the complete product life cycle of its customersâ products, and its processes and capabilities cover a range of products from high volume-low mix to high mix-low volume. It offers its services globally on a contract basis and it manufactures products to its customers' specifications. The Company manufactures products for its customers at facilities located in the United States, China, Mexico, Poland, Romania, Thailand, and Vietnam. It also has operations in India and Japan.