Welcome to our dedicated page for Standex Intl news (Ticker: SXI), a resource for investors and traders seeking the latest updates and insights on Standex Intl stock.
Standex International Corporation (NYSE: SXI) is a global multi-industry manufacturer that regularly issues detailed updates on its operations, financial performance, and corporate developments. This news page aggregates Standex-related press releases and third-party coverage so readers can review the latest information in one place.
Standex’s news flow often centers on its five business segments: Electronics, Engineering Technologies, Scientific, Engraving, and Specialty Solutions. Earnings announcements provide segment-level results, commentary on demand trends in areas such as the electrical grid, electric and hybrid vehicles, renewable energy, commercialization of space, and defense, and updates on acquisitions and productivity initiatives. The company also reports on capital allocation topics, including dividends, debt repayment, and capital expenditures.
In addition to financial results, Standex issues releases about corporate actions and governance, such as the timing and agenda of its Annual Meeting of Shareholders, outcomes of shareholder votes, and changes in executive roles. The company highlights its long history of quarterly cash dividends since becoming a public corporation in November 1964, and periodically announces dividend increases along with the count of consecutive quarterly dividends.
Investors can also find announcements about Standex’s participation in investor conferences hosted by firms like CJS Securities, Melius Research, and D.A. Davidson, as well as updates on brand initiatives such as the refreshed Standex Electronics identity and the organization of Standex Detect, Standex Edge, and Standex Grid. This page allows readers to follow these developments over time and reference prior announcements as needed.
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Standex International Corporation (NYSE: SXI) has declared a quarterly cash dividend of $0.28 per share, payable on May 25, 2023, to shareholders of record on May 10, 2023. This marks the company's 235th consecutive quarterly cash dividend, demonstrating its long-standing commitment to returning value to shareholders since going public in November 1964. Standex operates in five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions across various global locations, including the U.S., Europe, and Asia.
Standex International Corporation (NYSE:SXI) has successfully completed the sale of its Procon Pumps business to Investindustrial. This sale was executed within the expected timeline and valuation, reflecting the company's strategy to focus on core operations. The CEO expressed confidence that this divestment serves the interests of shareholders and ensures Procon's continued success under its new ownership by CEME Group. Investment banking advisory was provided by Seale & Associates, with legal support from TCF Law Group. Investindustrial, established in 1990, manages over €12 billion in capital and supports mid-market companies globally.
Standex International Corporation (SXI) reported strong financial results for the second quarter of fiscal 2023, achieving a GAAP operating margin of 14.8% and record adjusted operating margin of 15.2%, marking a 160 bps increase year-on-year. The company posted 5.5% organic revenue growth, with three business segments exceeding 10% growth. Fast growth market sales surged 35% year-on-year to approximately $19 million, projected to increase 40% in FY 2023. Standex generated $24 million in free cash flow and announced a divestiture of the Procon business unit for about $75 million.
Net income from continuing operations rose 33.6% to $20.1 million. Despite challenges, the company maintained optimistic growth forecasts, aiming for a high-single-digit compounded annual growth rate by FY 2028.
Standex International Corporation (NYSE:SXI) announced the divestiture of its Procon Pumps business to Investindustrial for an enterprise value of $75 million. The transaction, expected to close in February 2023, enables Standex to focus on larger business opportunities and accelerate growth. In fiscal year 2022, Procon generated net revenues of $33.7 million. The proceeds from this sale will be allocated to organic and inorganic growth initiatives and shareholder returns. CEO David Dunbar expressed confidence in Investindustrial's ability to advance Procon’s strategic potential.