Kimball Electronics (NASDAQ: KE) reported Q1 EPS of $0.43, $0.06 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $438.08 million versus the consensus estimate of $452.2 million.

GUIDANCE

Net sales for fiscal year 2024 are now expected to be flat with the prior year, compared to the previous estimate of a 4% to 7% increase. Operating income is also estimated to be in line with fiscal 2023, compared to the previous guidance range of 4.7% to 5.2% of net sales. The outlook for capital expenditures did not change with a range of $70 to $80 million.

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