By Kimball Electronics (NASDAQ:KE), a leading electronics manufacturer, is expected to announce its earnings for the second quarter of fiscal year 2024 on Monday, February 5th, after the market closes. Analysts predict that the company will post earnings of $0.37 per share, beating its previous quarter’s earnings of $0.43 per share.
Kimball Electronics reported its earnings for the first quarter of fiscal year 2024 on Monday, November 6th, 2023. The company exceeded analysts’ expectations, posting earnings of $0.43 per share, compared to the consensus estimate of $0.36 per share. This represented a positive earnings surprise of 19.44%
Kimball Electronics also reported revenue of $438.08 million for the quarter, slightly lower than analysts’ expectations of $448.00 million. The revenue was down 2.3% from the same quarter of the previous year, when the company reported revenue of $448.36 million.
The company attributed its strong earnings performance to its diversified portfolio of products and services, its operational excellence and efficiency, and its strategic investments and acquisitions. The company also highlighted its growth opportunities in the medical, industrial, and automotive markets.
What are the expectations and forecasts for the current quarter?
Analysts expect Kimball Electronics to report earnings of $0.37 per share for the second quarter of fiscal year 2024, which would be a decrease of 13.95% from the same quarter of the previous year, when the company reported earnings of $0.43 per share.
Analysts also expect Kimball Electronics to report revenue of $445.00 million for the quarter, which would be an increase of 1.58% from the same quarter of the previous year, when the company reported revenue of $438.08 million.
The company has not provided any guidance for the current quarter, but it has expressed its confidence and optimism for the future. The company said that it expects to continue to deliver profitable growth and value creation for its customers, shareholders, and employees, despite the challenges and uncertainties in the global economy and the electronics industry.
How has Kimball Electronics’ stock price reacted to its earnings reports?
Kimball Electronics’ stock price has been volatile and sensitive to its earnings reports. The stock price tends to rise or fall depending on whether the company beats or misses analysts’ expectations.
For example, after the company reported its earnings for the first quarter of fiscal year 2024 on November 6th, 2023, the stock price rose by 6.5% from $24.38 to $25.97 on the next trading day, as the company beat analysts’ estimates by a wide margin.
However, after the company reported its earnings for the fourth quarter of fiscal year 2023 on August 7th, 2023, the stock price fell by 7.8% from $28.65 to $26.41 on the next trading day, as the company missed analysts’ estimates by a narrow margin.
The stock price has also been influenced by other factors, such as the market sentiment, the industry trends, and the company news. The stock price has ranged from a 52-week low of $19.52 to a 52-week high of $31.43, with a 50-day moving average of $25.32 and a 200-day moving average of $26.83.
The stock price closed at $24.38 on Monday, January 29th, 2024, with a market capitalization of $605.60 million, a price-to-earnings ratio of 10.74, and a beta of 1.32.