STOCK TITAN

The L.S. Starrett Company - SCX STOCK NEWS

Welcome to our dedicated news page for The L.S. Starrett Company (Ticker: SCX), a resource for investors and traders seeking the latest updates and insights on The L.S. Starrett Company.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect The L.S. Starrett Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of The L.S. Starrett Company's position in the market.

Rhea-AI Summary
The L.S. Starrett Company (NYSE: SCX) has agreed to a go-private transaction with MiddleGround Capital at $16.19 per share, representing a 63% premium to the stock's closing price on March 8, 2024. The deal aims to provide additional financial and operational flexibility for Starrett to enhance its service and product offerings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
58.87%
Tags
-
Rhea-AI Summary
The L.S. Starrett Company (NYSE: SCX) reported a decline in net sales for the quarter ended December 31, 2023, with challenges in labor availability and lower factory utilization affecting measuring tools production. International sales improved, but gross margin decreased due to product mix. Operating income and net income were negatively impacted, leading to a net loss for the quarter. The Company focused on reducing debt and inventory, strengthening its financial position.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
L.S. Starrett Co. (SCX) Reports Q1 Fiscal 2024 Results: Net sales flat at $60.6M, currency neutral sales decline 2.3%. Gross margin down to 32.2% from 33.4% in Q1 FY23. Operating income at 4.1%, down from 6.1% in Q1 FY23. Diluted EPS at $0.25 compared to $0.27 in Q1 FY23. Company discusses non-U.S. GAAP financial measures.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.33%
Tags
Rhea-AI Summary
The L.S. Starrett Company announces fiscal year 2023 operating results. Net sales increased by 1% to $256.2 million compared to the previous year. North American industrial net sales increased by 7%. Gross margin decreased to 32.2% due to lower demand and geographical sales mix. Operating income decreased to $18.9 million. Operating cash flow improved to $25.1 million. Net income increased to $23.1 million. The Company retired $21.3 million in debt and reduced its debt to $10.6 million, the lowest level in over ten years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.35%
Tags
none
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.1%
Tags
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.77%
Tags
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.11%
Tags
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
22.53%
Tags
The L.S. Starrett Company

NYSE:SCX

SCX Rankings

SCX Stock Data

121.03M
6.16M
14.74%
41.68%
0.41%
Iron and Steel Forging
Manufacturing
Link
United States of America
ATHOL

About SCX

the l.s. starrett company was founded 1880 in athol, ma, which is still the company’s world headquarters. starrett has a history and reputation so rich and solid that the words “quality” and “starrett” are virtually synonymous. the company employs about 2,000 people worldwide. most precision tools continue to be manufactured in the athol plant, where it is not uncommon to see devoted generations of toolmakers with 30 or more years of experience. starrett, together with its subsidiaries, engages in the manufacture and sale of industrial, professional, and consumer products worldwide. the vast portfolio of over 5,000 products can be grouped in the categories of precision measuring tools, saws, metrology equipment, precision ground stock, granite, job-site and shop tools. starrett markets its products through distributors primarily to companies in the metalworking industry; and automotive, aviation, marine, and farm industries, as well as do-it-yourselfers and tradesmen, such as builders,