Kimball Electronics (NASDAQ: KE) reported Q2 EPS of $0.33, $0.07 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $421.2 million versus the consensus estimate of $435.02 million.

Guidance for Fiscal Year 2024

The Company updated its guidance for fiscal year 2024 with net sales expected to decline 2% to 4%, compared to fiscal year 2023. As a reminder, the previous guidance was an estimate of net sales flat with the prior year. Operating income is now expected to be in the range of 4.2% to 4.6% of net sales, compared to the prior estimate of flat with fiscal 2023. The guidance for capital expenditures did not change with a range of $70 to $80 million.

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