Standex International (SXI) Misses Q3 EPS by 12c, Beat on Revenues; Positive on 4Q Y/Y Refrigeration Sales
Standex International (NYSE: SXI) reported Q3 EPS of $0.98, $0.12 worse than the analyst estimate of $1.10. Revenue for the quarter came in at $184.7 million versus the consensus estimate of $182.65 million.
“We expect higher year-over-year Refrigeration sales in the fourth quarter as we are seeing increasing orders and higher backlog in that business,” said Dunbar. “We also anticipate the strong momentum to continue in Engraving, Engineering Technologies and Electronics. In Hydraulics, the end market conditions are fundamentally solid and we anticipate a near-term pick up. As we look to the future, our balance sheet is well positioned to fund CAPEX, organic growth and acquisitions as we continue to deploy the Standex Value Creation System.”
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