Standex International Corp. Reports Q3 FY24 Results

TL;DR

<b>Standex International Corp. reported Q3 FY24 revenue of $231.9 million and EPS of $0.88.</b>

AI Summary

STANDEX INTERNATIONAL CORP/DE/ (SXI) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Revenue for the third quarter of fiscal year 2024 was $231.9 million. Net income for the third quarter of fiscal year 2024 was $11.76 million. Earnings per share (EPS) for the third quarter of fiscal year 2024 was $0.88. The company reported total assets of $1.62 billion as of March 31, 2024. Total debt as of March 31, 2024, was $0.82 billion.

Why It Matters

For investors and stakeholders tracking STANDEX INTERNATIONAL CORP/DE/, this filing contains several important signals. The filing provides detailed financial statements for the third quarter and year-to-date periods, allowing investors to assess the company's financial health and performance trends. Key financial metrics such as revenue, net income, and EPS are presented, enabling comparison with previous periods and industry benchmarks.

Risk Assessment

Risk Level: medium — STANDEX INTERNATIONAL CORP/DE/ shows moderate risk based on this filing. The company's debt-to-equity ratio of 0.82 indicates a significant reliance on debt financing, which could pose a risk if interest rates rise or earnings decline.

Analyst Insight

Investors should monitor Standex International's debt levels and interest coverage ratios in future filings to assess its financial risk.

Financial Highlights

debt To Equity

0.82

revenue

231,900,000

total Assets

1,622,409,100

total Debt

820,000,000

net Income

11,760,187

eps

0.88

Key Numbers

• 231,900,000 — Revenue (Q3 2024)
• 11,760,187 — Net Income (Q3 2024)
• 0.88 — EPS (Q3 2024)
• 1,622,409,100 — Total Assets (As of March 31, 2024)
• 820,000,000 — Total Debt (As of March 31, 2024)

Key Players & Entities

• STANDEX INTERNATIONAL CORP/DE/ (company) — Filer
• 20240331 (date) — Conformed Period of Report
• 20240503 (date) — Filed as of Date
• 3580 (industry) — Standard Industrial Classification
• DE (jurisdiction) — State of Incorporation
• NH (state) — Business Address State
• 603-893-9701 (phone) — Business Phone

FAQ

Industry Context

Standex International operates in the industrial machinery sector, providing a diverse range of products and services across various end markets.

Regulatory Implications

The filing adheres to SEC regulations for quarterly reporting (Form 10-Q), ensuring transparency and providing standardized financial information to the public.

What Investors Should Do

1. Analyze the revenue breakdown by segment to identify growth drivers and potential areas of concern.
2. Compare the reported EPS of $0.88 to analyst expectations and historical performance.
3. Evaluate the company's debt-to-equity ratio of 0.82 in the context of industry averages and its ability to service its debt.

Year-Over-Year Comparison

This filing represents the Q3 FY24 results, providing updated financial data compared to previous periods.

Key Financial Figures

• $1.50 — ich registered Common Stock, Par Value $1.50 Per Share SXI New York Stock Exchan

Filing Documents

• sxi20240331_10q.htm (10-Q) — 1865KB
• ex_630362.htm (EX-31.1) — 11KB
• ex_630363.htm (EX-31.2) — 11KB
• ex_630364.htm (EX-32) — 9KB
• 0001437749-24-014596.txt (&nbsp;) — 8971KB
• sxi-20240331.xsd (EX-101.SCH) — 69KB
• sxi-20240331_cal.xml (EX-101.CAL) — 56KB
• sxi-20240331_def.xml (EX-101.DEF) — 441KB
• sxi-20240331_lab.xml (EX-101.LAB) — 360KB
• sxi-20240331_pre.xml (EX-101.PRE) — 485KB
• sxi20240331_10q_htm.xml (XML) — 1860KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION: Item 1. Condensed Consolidated Balance Sheets as of March 31, 2024 and June 30, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations for the three and nine months ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the nine months ended March 31, 2024 and 2023 (unaudited) 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 39

OTHER INFORMATION

PART II. OTHER INFORMATION: Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5. Other Information 40 Item 6. Exhibits 41 2

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1 STANDEX INTERNATIONAL CORPORATION AND SUBSIDIARIES Unaudited Condensed Consolidated Balance Sheets March 31, June 30, (In thousands, except per share data) 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 138,799 $ 195,706 Accounts receivable, less allowance for credit losses of $ 2,319 and $ 2,788 at March 31, 2024 and June 30, 2023, respectively 120,501 123,440 Inventories 95,170 98,537 Prepaid expenses and other current assets 62,066 64,739 Income taxes receivable 2,617 831 Total current assets 419,153 483,253 Property, plant, and equipment, net 135,003 130,937 Intangible assets, net 81,881 75,651 Goodwill 282,000 264,821 Deferred tax asset 15,047 14,602 Operating lease right-of-use asset 34,421 33,273 Other non-current assets 26,001 22,392 Total non-current assets 574,353 541,676 Total assets $ 993,506 $ 1,024,929 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 58,448 $ 68,601 Accrued liabilities 55,447 62,031 Income taxes payable 8,453 10,335 Total current liabilities 122,348 140,967 Long-term debt 148,768 173,441 Operating lease long-term liabilities 29,001 25,774 Accrued pension and other non-current liabilities 74,407 77,298 Total non-current liabilities 252,176 276,513 Contingencies (Note 15) Stockholders' equity: Common stock, par value $ 1.50 per share, 60,000,000 shares authorized, 27,984,278 shares issued, 11,760,187 and 11,744,991 shares outstanding at March 31, 2024 and June 30, 2023 41,976 41,976 Additional paid-in capital 104,753 100,555 Retained earnings 1,070,255 1,027,279 Accumulated other comprehensive loss ( 168,005 ) ( 158,477 ) Treasury shares: 16,224,091 and 16,239,287 shares at March 31, 2024 and June 30, 2023 ( 429,997 ) ( 403,884 ) Total stockholders' equity 618,982 607,449 Total liabilities and stockholders' equity $ 993,506 $ 1,024,929 See notes to una

View Full Filing

View this 10-Q filing on SEC EDGAR