Welcome to our dedicated page for L.S. Starrett news (Ticker: SCX), a resource for investors and traders seeking the latest updates and insights on L.S. Starrett stock.
L.S. Starrett Company (SCX) maintains its position as a global leader in precision measurement solutions since 1880. This news hub provides investors and industry professionals with essential updates about this NYSE-listed manufacturer of premium metrology equipment and cutting tools.
Access authoritative reports on financial performance, product innovations, and strategic initiatives directly from the source. Our curated collection features earnings announcements, leadership updates, manufacturing advancements, and partnership developments within the metalworking, aerospace, and construction sectors.
Key content categories include quarterly financial disclosures, new product launches for industrial measurement systems, facility expansion notices, and technology patents. All materials are vetted for accuracy to support informed analysis of this heritage manufacturer's market position.
Bookmark this page for streamlined access to SCX's latest developments. Combine historical context with real-time updates to track how traditional craftsmanship meets modern manufacturing demands in precision tooling.
The L.S. Starrett Company (NYSE: SCX) reported financial results for the second quarter of fiscal 2023, ending December 31, 2022.
Net sales reached $66.8 million, a 9% increase year-over-year, with North America performing strongly at 21% growth, contrasting a 5% decline in international sales, particularly in Europe, due to economic challenges and the Ukraine conflict.
Gross margin improved to 32.3%, up 140 basis points from the prior year, attributed to price increases despite ongoing inflationary pressures. Operating income rose to 8.9%, net income was $3.1 million, or $0.42 per diluted share, reflecting a 23.9% increase from last year.
SunCoke Energy, Inc. (NYSE: SXC) will announce its fourth quarter 2022 financial results and 2023 guidance on February 2, 2023, before the market opens. An earnings call is scheduled for 11:00 am ET on the same day, allowing investors and analysts to participate. SunCoke supplies high-quality coke used in steel production and has facilities in Illinois, Indiana, Ohio, Virginia, and Brazil. The company operates under long-term contracts, ensuring stable revenue. Additionally, it provides logistics services with significant capacity for material handling.
The L.S. Starrett Company (NYSE: SCX) reported its financial results for Q1 fiscal 2023, highlighting net sales of $60.5 million, a nearly 2% decline year-over-year, while currency-neutral sales remained flat at $61.4 million. The company faced soft international orders due to economic uncertainties, particularly in Europe. Gross margin improved to 33.4%, driven by price increases despite inflation. Operating income was 6.1%, down from 6.7% in the prior year. Diluted EPS was $0.27, a decrease primarily due to foreign exchange losses and increased pension expenses.
The L.S. Starrett Company (NYSE: SCX) reported a 15.5% increase in fiscal 2022 net sales, totaling $253.7 million, alongside a 30% rise in operating income to $21.6 million. Despite challenges from rising supply chain costs and labor shortages, gross margins improved to 34.5% in the latter half of the year. Fiscal 2022 diluted EPS was $2.00, compared to $2.11 in fiscal 2021. The company continues to maintain a strong backlog, signaling robust demand for precision tools and solutions, while implementing price increases to counter inflationary pressures.
FAQ
What is the current stock price of L.S. Starrett (SCX)?
What is the market cap of L.S. Starrett (SCX)?
