Kimball Electronics Says Net Sales For FY24 Are Now Expected To Be Flat YoY Compared To The Previous Estimate Of A 4%-7% Increase; Operating Income Is Also Estimated To Be In Line With FY23 Compared To The Previous Guidance Range Of 4.7%-5.2% Of Net Sales
Portfolio Pulse from Benzinga Newsdesk
Kimball Electronics has revised its FY24 guidance, now expecting net sales to be flat YoY, compared to the previous estimate of a 4%-7% increase. Operating income is also expected to be in line with FY23, as opposed to the previous guidance range of 4.7%-5.2% of net sales. Capital expenditure outlook remains unchanged at $70-$80 million.
November 06, 2023 | 11:01 pm
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Kimball Electronics has revised its FY24 guidance downwards, which could negatively impact investor sentiment and the stock price in the short term.
The company's revised guidance indicates a slowdown in growth, which could lead to a negative market reaction and a potential decrease in the stock price. The unchanged outlook for capital expenditures suggests that the company is not planning any major investments or expansions, which could also be viewed negatively by investors.
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