Kimball Electronics Files 8-K on Operations and Financials

TL;DR

Kimball Electronics dropped an 8-K on Nov 4th covering ops and financials. Watch for details.

AI Summary

Kimball Electronics, Inc. filed an 8-K on November 4, 2024, to report on its results of operations and financial condition. The filing also details costs associated with exit or disposal activities and includes financial statements and exhibits. Specific financial figures or operational details were not provided in this initial filing summary.

Why It Matters

This 8-K filing signals that Kimball Electronics is providing updated information to investors regarding its financial performance and any significant business events, which is crucial for understanding the company's current health.

Risk Assessment

Risk Level: low — This filing is a standard disclosure of operational and financial information, not indicating any immediate or specific new risks.

Key Players & Entities

• Kimball Electronics, Inc. (company) — Registrant
• November 4, 2024 (date) — Date of Report
• Indiana (jurisdiction) — State of incorporation
• 001-36454 (commission_file_number) — SEC File Number
• 35-2047713 (irs_number) — IRS Employer Identification No.
• 1205 Kimball Boulevard, Jasper, Indiana 47546 (address) — Principal executive offices
• 812-634-4000 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $8 million — We are expected to incur approximately $8 million to $11 million in total exit costs, inc
• $11 million — ed to incur approximately $8 million to $11 million in total exit costs, including most sig
• $6 million — xit costs, including most significantly $6 million to $7 million in employee termination b
• $7 million — luding most significantly $6 million to $7 million in employee termination benefits and $2
• $2 million — on in employee termination benefits and $2 million to $3 million in logistical costs to tr
• $3 million — termination benefits and $2 million to $3 million in logistical costs to transfer and val

Filing Documents

• ke-20241104.htm (8-K) — 35KB
• exhibit9918k09302024q110q.htm (EX-99.1) — 265KB
• ke-20241104_g1.jpg (GRAPHIC) — 2048KB
• 0001606757-24-000054.txt ( ) — 3767KB
• ke-20241104.xsd (EX-101.SCH) — 2KB
• ke-20241104_def.xml (EX-101.DEF) — 14KB
• ke-20241104_lab.xml (EX-101.LAB) — 25KB
• ke-20241104_pre.xml (EX-101.PRE) — 15KB
• ke-20241104_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On November 4, 2024, the Company issued an earnings release for the first quarter ended September 30, 2024. The earnings release is attached as Exhibit 99.1. The information in Item 2.02 of this Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, except as shall otherwise be expressly set forth by specific reference in such filing.

05 Costs Associated with Exit or Disposal Activities

Item 2.05 Costs Associated with Exit or Disposal Activities On November 4, 2024, the Company announced that its Board of Directors has approved a plan to cease operations of our Tampa facility by the end of the fiscal year. The decision was another important step towards sharpening our strategic focus, while leveraging the capacity in our global footprint and streamlining our operating structure. Production activities on existing customer programs will be transferred out of Tampa, with the majority of the work going to our plants in Mexico and Jasper. We are expected to incur approximately $8 million to $11 million in total exit costs, including most significantly $6 million to $7 million in employee termination benefits and $2 million to $3 million in logistical costs to transfer and validate programs at our other facilities. We expect these costs to be predominantly cash expenditures. Once the transfers are complete and operations have ceased, we expect to sell the building and land in Tampa.

Forward-Looking Statements

Forward-Looking Statements Certain statements contained within this document are considered forward-looking under the Private Securities Litigation Reform Act of 1995. The statements may be identified by the use of words such as "allow," "expects," "future," "may," "might," "should," "will," and similar expressions. These forward-looking statements are subject to risks and uncertainties including, but not limited to, global economic conditions, geopolitical environment and conflicts, global health emergencies, availability or cost of raw materials and components, foreign exchange fluctuations, and our ability to convert new business opportunities into customers and revenue. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Kimball Electronics are contained in our Annual Report on Form 10-K for the year ended June 30, 2024.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 99.1 Earnings Release dated No vember 4 , 2024 104 Cover Page Interactive Data File (formatted in Inline XBRL) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KIMBALL ELECTRONICS, INC. By: /s/ Jana T. Croom JANA T. CROOM Chief Financial Officer Date: November 4, 2024 3

View Full Filing

View this 8-K filing on SEC EDGAR