Kimball Electronics Reports FY24 Results

TL;DR

Kimball Electronics FY24: $1B revenue, $27.3M net income. Solid balance sheet.

AI Summary

Kimball Electronics, Inc. filed its 2024 10-K report, detailing its fiscal year ending June 30, 2024. The company reported total assets of $1,002 million and total liabilities of $257 million. Revenue for the fiscal year was $1,002 million, with a net income of $27.3 million. The filing also shows total stockholders' equity of $745 million.

Why It Matters

This 10-K filing provides a comprehensive overview of Kimball Electronics' financial health and performance for the fiscal year 2024, crucial for investors assessing the company's stability and growth prospects.

Risk Assessment

Risk Level: medium — The company operates in the manufacturing sector, which can be subject to economic downturns and supply chain disruptions.

Key Numbers

• $1,002M — Total Assets (As of June 30, 2024)
• $257M — Total Liabilities (As of June 30, 2024)
• $1,002M — Revenue (For the fiscal year ended June 30, 2024)
• $27.3M — Net Income (For the fiscal year ended June 30, 2024)
• $745M — Total Stockholders' Equity (As of June 30, 2024)

Key Players & Entities

• Kimball Electronics, Inc. (company) — Filer of the 10-K report
• 20240630 (date) — End of the reporting fiscal year
• 1,002 million (dollar_amount) — Total assets for the fiscal year
• 257 million (dollar_amount) — Total liabilities for the fiscal year
• 27.3 million (dollar_amount) — Net income for the fiscal year

FAQ

Filing Documents

• ke-20240630.htm (10-K) — 1879KB
• exhibit41descriptionofcapi.htm (EX-4.1) — 38KB
• exhibit1013formofstockawar.htm (EX-10.13) — 24KB
• exhibit1014formofstockawar.htm (EX-10.14) — 21KB
• exhibit1906302024q4insider.htm (EX-19) — 23KB
• a10kexhibit2106302024q410k.htm (EX-21) — 12KB
• a10kexhibit2306302024q410k.htm (EX-23) — 3KB
• a10kexhibit2406302024q410k.htm (EX-24) — 7KB
• exhibit31106302024q410k.htm (EX-31.1) — 11KB
• exhibit31206302024q410k.htm (EX-31.2) — 12KB
• exhibit32106302024q410k.htm (EX-32.1) — 5KB
• exhibit32206302024q410k.htm (EX-32.2) — 5KB
• exhibit9706302024q4executi.htm (EX-97) — 30KB
• ke-20240630_g1.jpg (GRAPHIC) — 2048KB
• ke-20240630_g2.jpg (GRAPHIC) — 122KB
• 0001606757-24-000024.txt ( ) — 15181KB
• ke-20240630.xsd (EX-101.SCH) — 79KB
• ke-20240630_cal.xml (EX-101.CAL) — 98KB
• ke-20240630_def.xml (EX-101.DEF) — 635KB
• ke-20240630_lab.xml (EX-101.LAB) — 926KB
• ke-20240630_pre.xml (EX-101.PRE) — 771KB
• ke-20240630_htm.xml (XML) — 1728KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 20 I tem 1C. C ybersecurity 20 Item 2.

Properties

Properties 22 Item 3.

Legal Proceedings

Legal Proceedings 22 Item 4. Mine Safety Disclosures 22 Information about Our Executive Officers 23 PART II Item 5. Market for Registrant's Common Equity, Related Share Owner Matters and Issuer Purchases of Equity Securities 24 Item 6. [Reserved] 25 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 35 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 68 Item 9A.

Controls and Procedures

Controls and Procedures 68 Item 9B. Other Information 68 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 68 PART III Item 10. Directors, Executive Officers and Corporate Governance 69 Item 11.

Executive Compensation

Executive Compensation 69 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Share Owner Matters

Security Ownership of Certain Beneficial Owners and Management and Related Share Owner Matters 70 Item 13. Certain Relationships and Related Transactions, and Director Independence 70 Item 14. Principal Accounting Fees and Services 70 PART IV Item 15. Exhibits, Financial Statement Schedules 71 Item 16. Form 10-K Summary 71

SIGNATURES

SIGNATURES 74 2 PART I

- Business

Item 1 - Business General As used herein, the terms "Company," "Kimball Electronics," "we," "us," or "our" refer to Kimball Electronics, Inc., the Registrant, and its subsidiaries. Reference to a year relates to a fiscal year, ended June 30 of the year indicated, rather than a calendar year unless the context indicates otherwise. Additionally, references to the first, second, third, and fourth quarters refer to those respective quarters of the fiscal year indicated.

Forward-Looking Statements

Forward-Looking Statements This document contains certain forward-looking statements. These are statements made by management, using their best business judgment based upon facts known at the time of the statements or reasonable estimates, about future results, plans, or future performance and business of the Company. Such statements involve risk and uncertainty, and their ultimate validity is affected by a number of factors, both specific and general. They should not be construed as a guarantee that such results or events will, in fact, occur or be realized as actual results may differ materially from those expressed in these forward-looking statements. The statements may be identified by the use of words such as "believes," "anticipates," "expects," "intends," "plans," "projects," "estimates," "forecasts," "seeks," "likely," "future," "may," "might," "should," "would," "could," "will," "potentially," "can," "goal," "predict," and similar expressions. It is not possible to foresee or identify all factors that could cause actual results to differ from expected or historical results. We make no commitment to update these factors or to revise any forward-looking statements for events or circumstances occurring after the statement is issued, except as required by law. The risk factors discussed in Item 1A - Risk Factors of this report could cause our results to differ materially from those expressed in forward-looking statements. There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business. Any such risks could cause our results to differ materially from those expressed in forward-looking statements. At any time when we make forward-looking statements, we desire to take advantage of the "safe harbor" which is afforded such statements under the Private Securities Litigation Reform Act of 1995 where factors could cause actual results to differ materially from

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View this 10-K filing on SEC EDGAR