Standex International (SXI) Misses Q2 EPS by 23c, Revenues Miss
Standex International (NYSE: SXI) reported Q2 EPS of $0.98, $0.23 worse than the analyst estimate of $1.21. Revenue for the quarter came in at $195.5 million versus the consensus estimate of $201.61 million.
“As we turn into the second half of 2019, we expect to deliver strong results in our Scientific, Hydraulics and Engineering Technologies businesses and to capitalize on growth laneways and new business opportunities in Electronics and Engraving to counter market softening in Europe and Asia,” said Dunbar. “We continue to focus our investments on our large funnel of organic initiatives and acquisitions that enhance high-return businesses such as Electronics and Engraving and set Standex up to capitalize on potential upside across several platforms. Although we expect to face ongoing headwinds like North American Refrigeration market softness and material inflation, we are confident that we are taking the actions necessary to align the business with market demand, while also positioning Standex to deliver on our long-term financial targets and fulfill our mission to become a best-in-class operating company.”
For earnings history and earnings-related data on Standex International (SXI) click here.