Kimball Electronics (NASDAQ: KE) reported Q3 EPS of $0.34, $0.06 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $425.04 million versus the consensus estimate of $440.2 million.

GUIDANCE

The Company reiterated its guidance for adjusted operating income in fiscal year 2024 of 4.2% to 4.6% of net sales. In response to the current economic environment, net sales are now expected to decline 4% to 6%, compared to the previous estimate of a 2% to 4% decrease. Capital expenditures are estimated to be in the range of $55 to $60 million, compared to the previous guidance of $70 to $80 million.

For earnings history and earnings-related data on Kimball Electronics (KE) click here.