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 reports developments for a global multi-industry manufacturer operating through Electronics, Engineering Technologies, Scientific, Engraving, and Specialty Solutions businesses. News commonly covers quarterly earnings, segment sales and margins, order trends, new product activity, and demand in markets served by its sensing, switching, magnetic power conversion, engraving, scientific, and engineered-technology operations.
Company updates also include portfolio actions such as completed divestitures, acquisition contributions, debt reduction, dividend declarations, and investor conference participation. Standex’s disclosures frequently emphasize its Electronics segment, global manufacturing footprint, fast-growth market sales, and long-running quarterly dividend history as part of its public-company profile.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.