STANDEX REPORTS FISCAL FIRST QUARTER 2026 FINANCIAL RESULTS
- None.
- None.
Insights
Results show clear top-line acceleration, margin expansion on adjusted basis, and record orders, balanced by higher net leverage.
Sales rose to
Key dependencies and risks include the reliance on recent acquisitions (noted acquisition benefits in Electronics and Engineering Technologies) and conversion of order backlog into sustained organic revenue: net (cash) debt rose to
Operational performance strengthened via new products and fast growth end markets; execution and cost actions show measurable impact.
Fast growth markets contributed roughly
Operational risks include less favorable product mix and growth investments the company cites for slightly lower sequential adjusted margin expectations in Q2. Monitor the cadence of the >15 planned new product releases and the conversion of record order intake (~
-
In Q1 FY26, Sales Increased
27.6% YOY to$217.4 Million 35% and Sales into Fast Growth Markets Contributed ~30% of Total Sales -
Q1 FY26 GAAP Operating Margin of
13.6% ; Adjusted Operating Margin of19.1% , Up 210 bps YOY -
Q1 FY26 Orders of
~ ; Record Quarterly Order Intake$226 Million -
Electronics Book to Bill of 1.06; Record Amran/Narayan Group Sales of >
$35 Million -
Paid Down
~ of Debt in Q1 FY26; Net Debt to EBITDA Ratio Lowered to 2.4x$8 Million -
Raising FY26 Sales Outlook to >
$110 Million 45% and Exceed$270 Million
|
Summary Financial Results - Total |
|
|
|
|
|
|
($M except EPS and Dividends) |
1Q26 |
1Q25 |
4Q25 |
Y/Y |
Q/Q |
|
Net Sales |
|
|
|
27.6 % |
-2.1 % |
|
|
|
|
23.0 % |
-14.7 % |
|
|
Operating Income – Adjusted |
|
|
|
43.3 % |
-9.1 % |
|
Operating Margin % - GAAP |
13.6 % |
14.1 % |
15.6 % |
- 50 bps |
- 200 bps |
|
Operating Margin % - Adjusted |
19.1 % |
17.0 % |
20.6 % |
+ 210 bps |
- 150 bps |
|
Net Income from Continuing Ops – GAAP |
|
|
|
-13.0 % |
2.0 % |
|
Net Income from Continuing Ops – Adjusted |
|
|
|
9.9 % |
-12.7 % |
|
|
|
|
|
|
|
|
EBITDA |
|
|
|
27.3 % |
-12.2 % |
|
EBITDA margin |
18.3 % |
18.3 % |
20.4 % |
0 bps |
- 210 bps |
|
Adjusted EBITDA |
|
|
|
38.2 % |
-8.6 % |
|
Adjusted EBITDA margin |
21.7 % |
20.0 % |
23.2 % |
+ 170 bps |
- 150 bps |
|
|
|
|
|
|
|
|
Diluted EPS – GAAP |
|
|
|
-18.3 % |
1.6 % |
|
Diluted EPS – Adjusted |
|
|
|
8.2 % |
-12.7 % |
|
Dividends per Share |
|
|
|
6.7 % |
0.0 % |
|
|
|
|
|
|
|
|
Free Cash Flow |
|
|
|
-3.7 % |
-58.2 % |
|
|
|
|
|
|
|
|
Net Debt to EBITDA |
2.4x |
(0.1x) |
2.6x |
NM |
-9.9 % |
|
*Adjusted operating income, adjusted operating margin, and adjusted EPS for all periods now also exclude amortization expense from acquired intangible assets. |
Commenting on the quarter's results, President and Chief Executive Officer David Dunbar said, "Following record operating performance in fiscal year 2025, our fiscal first quarter performance provided a strong start to the fiscal year, positioning us well to surpass our previously provided outlook of greater than
Adjusted gross margin expanded 90 basis points year-on-year to
Fiscal Second Quarter 2026 Outlook
In fiscal second quarter 2026, on a year-on-year basis, the Company expects significantly higher revenue, driven by mid-single-digit organic growth and the contribution from recent acquisitions, and similar adjusted operating margin due to higher growth investments and less favorable product mix.
On a sequential basis, the Company expects slightly higher revenue, primarily due to increased contribution from fast growth end markets and new product sales and realization of pricing initiatives. The Company expects slightly lower to similar adjusted operating margin due to increased investments in growth and less favorable product mix.
Fiscal Year 2026 Outlook
The Company is raising its fiscal year 2026 sales outlook. In fiscal year 2026, barring any unforeseen economic, global trade, or tariffs related disruptions, the Company now expects revenue to grow by over
First Quarter Segment Operating Performance
Electronics (51
% of sales;
|
|
1Q26 |
1Q25 |
% Change |
|
Electronics ($M) |
|
|
|
|
Revenue |
110.6 |
77.7 |
42.2 % |
|
GAAP Operating Income |
28.3 |
17.0 |
66.1 % |
|
GAAP Operating Margin % |
25.6 |
21.9 |
|
|
Adjusted Operating Income* |
31.9 |
18.4 |
73.0 % |
|
Adjusted Operating Margin %* |
28.8 |
23.7 |
|
|
|
|
|
* Excludes the amortization of acquired intangible assets; Q1 FY25 restated to exclude the amortization of acquired intangible assets |
Revenue increased approximately
The segment had a book-to-bill ratio of approximately 1.06 in the fiscal first quarter, with orders of approximately
On a sequential basis, the Company expects slightly higher revenue, reflecting higher contribution from the core business, partially offset by lower Amran/Narayan Group sales due to holidays in
Engineering Technologies (
|
|
1Q26 |
1Q25 |
% Change |
|
|
Engineering Technologies ($M) |
|
|
|
|
|
Revenue |
29.9 |
20.5 |
45.6 % |
|
|
GAAP Operating Income |
3.6 |
4.0 |
-9.8 % |
|
|
GAAP Operating Margin % |
12.1 |
19.5 |
|
|
|
Adjusted Operating Income* |
5.0 |
4.0 |
25.2 % |
|
|
Adjusted Operating Margin %* |
16.8 |
19.5 |
|
|
|
* Excludes the amortization of acquired backlog and acquired intangible assets |
Revenue increased approximately
In fiscal second quarter 2026, on a sequential basis, the Company expects moderately higher revenue due to growth in new product sales and similar adjusted operating margin due to project mix.
Scientific
(
|
|
1Q26 |
1Q25 |
% Change |
|
Scientific ($M) |
|
|
|
|
Revenue |
19.5 |
17.7 |
9.9 % |
|
GAAP Operating Income |
4.7 |
4.7 |
-1.5 % |
|
GAAP Operating Margin % |
24.1 |
26.8 |
|
|
Adjusted Operating Income* |
4.9 |
5.0 |
-1.7 % |
|
Adjusted Operating Margin %* |
25.3 |
28.3 |
|
|
* Excludes the amortization of acquired intangible assets; Q1 FY25 restated to exclude the amortization of acquired intangible assets |
Revenue increased approximately
In fiscal second quarter 2026, on a sequential basis, the Company expects similar revenue and slightly lower adjusted operating margin due to higher contribution from Custom Biogenic Systems and increased tariff costs.
Engraving (
|
|
1Q26 |
1Q25 |
% Change |
|
Engraving ($M) |
|
|
|
|
Revenue |
35.8 |
33.4 |
7.4 % |
|
GAAP Operating Income |
6.5 |
5.8 |
12.2 % |
|
GAAP Operating Margin % |
18.2 |
17.5 |
|
|
Adjusted Operating Income* |
6.9 |
6.2 |
10.6 % |
|
Adjusted Operating Margin %* |
19.1 |
18.6 |
|
|
|
|
|
|
|
* Excludes the amortization of acquired intangible assets; Q1 FY25 restated to exclude the amortization of acquired intangible assets |
Revenue increased approximately
During the fiscal first quarter, the Company announced the closure of four sites, optimizing the footprint in the
In fiscal second quarter 2026, on a sequential basis, the Company expects moderately lower revenue and slightly lower adjusted operating margin due to project timing.
Specialty Solutions
(
|
|
1Q26 |
1Q25 |
% Change |
|
Specialty Solutions ($M) |
|
|
|
|
Revenue |
21.7 |
21.1 |
2.6 % |
|
Operating Income |
2.9 |
3.5 |
-18.6 % |
|
Operating Margin % |
13.3 |
16.8 |
|
Specialty Solutions revenue increased approximately
In fiscal second quarter 2026, on a sequential basis, the Company expects slightly higher revenue and operating margin.
Capital Allocation
-
Interest: In fiscal second quarter 2026, the Company expects interest expense between
$8 million $8.5 million
-
Share Repurchase: During the fiscal first quarter of 2026, the Company did not repurchase shares. There was approximately
$28 million
-
Capital Expenditures: In fiscal first quarter 2026, the Company's capital expenditures were
$6.4 million $6.7 million $33 million $38 million $28.3 million
-
Dividend: On October 23, 2025, the Company declared a quarterly cash dividend of
$0.34 6.3% year-on-year increase. The dividend is payable November 21, 2025, to shareholders of record on November 7, 2025.
Balance Sheet and Cash Flow Highlights
-
Net Debt: Standex had net (cash) debt of
$446.0 million ( at the end of fiscal first quarter 2025. Net (cash) debt for the first quarter of 2026 consisted primarily of long-term debt of$15.6) million $544.6 million $98.7 million
-
Cash Flow: Net cash provided by continuing operating activities for the three months ended September 30, 2025, was
$16.8 million compared to$17.5 $10.4 million compared to free cash flow after capital expenditures of$10.8 million in the fiscal first quarter of 2025.
Conference Call Details
Standex will host a conference call for investors tomorrow, October 31, 2025, at 8:30 a.m. ET. On the call, David Dunbar, President and CEO, and Ademir Sarcevic, CFO, will review the Company's financial results and business and operating highlights. Investors interested in listening to the webcast and viewing the slide presentation should log on to the "Investors" section of Standex's website under the subheading, "Events and Presentations," located at www.standex.com.
A replay of the webcast will also be available on the Company's website shortly after the conclusion of the presentation online through October 31, 2026. To listen to the teleconference playback, please dial in the
Use of Non-GAAP Financial Measures
In addition to the financial measures prepared in accordance with generally accepted accounting principles ("GAAP"), the Company uses certain non-GAAP financial measures, including non-GAAP adjusted income from operations, non-GAAP adjusted net income from continuing operations, free operating cash flow, EBITDA (earnings before interest, taxes, depreciation and amortization) adjusted EBITDA, adjusted EBITDA to net debt, and adjusted earnings per share. The attached financial tables reconcile non-GAAP measures used in this press release to the most directly comparable GAAP measures. The Company believes that the use of non-GAAP measures which exclude the impact of restructuring charges, purchase accounting, amortization from acquired intangible assets, insurance recoveries, discrete tax events, gain or loss on sale of a business unit, acquisition costs, and litigation costs help investors to obtain a better understanding of our operating results and prospects, consistent with how management measures and forecasts the Company's performance, especially when comparing such results to previous periods. An understanding of the impact in a particular quarter of specific restructuring costs, acquisition expenses, or other gains and losses, on net income (absolute as well as on a per-share basis), operating income or EBITDA can give management and investors additional insight into core financial performance, especially when compared to quarters in which such items had a greater or lesser effect, or no effect. Non-GAAP measures should be considered in addition to, and not as a replacement for, the corresponding GAAP measures, and may not be comparable to similarly titled measures reported by other companies.
About Standex
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Electronics, Engineering Technologies, Scientific, Engraving, and Specialty Solutions with operations in
Forward-Looking Statements
Statements contained in this Press Release that are not based on historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terminology such as "should," "could," "may," "will," "expect," "believe," "estimate," "anticipate," "intend," "continue," or similar terms or variations of those terms or the negative of those terms. There are many factors that affect the Company's business and the results of its operations and that may cause the actual results of operations in future periods to differ materially from those currently expected or anticipated. These factors include, but are not limited to: the impact of global crises or catastrophic events on employees, our supply chain, and the demand for our products and services around the world; materially adverse or unanticipated legal judgments, fines, penalties or settlements; conditions in the financial and banking markets, including fluctuations in exchange rates and the inability to repatriate foreign cash; domestic and international economic conditions, including the impact, length and degree of economic downturns on the customers and markets we serve and more specifically conditions in the electrical grid, automotive, construction, aerospace, defense, transportation, food service equipment, consumer appliance, energy, oil and gas and general industrial markets; lower-cost competition; the relative mix of products which impact margins and operating efficiencies in certain of our businesses; the impact of higher raw material and component costs, particularly steel, certain materials used in electronics parts, petroleum based products, and refrigeration components; the impact of higher transportation and logistics costs, especially with respect to transportation of goods from
|
Standex International Corporation |
||||||
|
Consolidated Statement of Operations |
||||||
|
(unaudited) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|||
|
|
|
|
September 30, |
|||
|
(In thousands, except per share data) |
|
|
2025 |
|
|
2024 |
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
217,431 |
|
|
170,464 |
|
Cost of sales |
|
|
126,998 |
|
|
100,391 |
|
Gross profit |
|
|
90,433 |
|
|
70,073 |
|
|
|
|
|
|
|
|
|
Selling, general and administrative expenses |
|
|
50,129 |
|
|
41,043 |
|
(Gain) loss on sale of business |
|
|
- |
|
|
- |
|
Restructuring costs |
|
|
5,997 |
|
|
1,086 |
|
Amortization of acquired intangible assets |
|
|
4,537 |
|
|
2,005 |
|
Acquisition related costs |
|
|
136 |
|
|
1,840 |
|
Other operating (income) expense, net |
|
|
- |
|
|
- |
|
|
|
|
|
|
|
|
|
Income from operations |
|
|
29,634 |
|
|
24,099 |
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
8,912 |
|
|
977 |
|
Other non-operating (income) expense, net |
|
|
(265) |
|
|
(28) |
|
Total |
|
|
8,647 |
|
|
949 |
|
|
|
|
|
|
|
|
|
Income from continuing operations before income taxes |
|
|
20,987 |
|
|
23,150 |
|
Provision for income taxes |
|
|
5,165 |
|
|
4,962 |
|
Net income from continuing operations |
|
|
15,822 |
|
|
18,188 |
|
|
|
|
|
|
|
|
|
Income (loss) from discontinued operations, net of tax |
|
|
(27) |
|
|
9 |
|
|
|
|
|
|
|
|
|
Net income |
|
|
15,795 |
|
|
18,197 |
|
Less: net income attributable to redeemable noncontrolling interest |
|
|
739 |
|
|
- |
|
Net income attributable to Standex International |
|
$ |
15,056 |
|
|
18,197 |
|
|
|
|
|
|
|
|
|
Basic earnings per share: |
|
|
|
|
|
|
|
Income (loss) from discontinued operations |
|
|
- |
|
|
- |
|
Total income (loss) attributable to Standex International |
|
$ |
1.26 |
|
|
1.54 |
|
|
|
|
|
|
|
|
|
Diluted earnings per share: |
|
|
|
|
|
|
|
Income (loss) from discontinued operations |
|
|
- |
|
|
- |
|
Total income (loss) attributable to Standex International |
|
$ |
1.25 |
|
|
1.53 |
|
|
|
|
|
|
|
|
|
Average Shares Outstanding |
|
|
|
|
|
|
|
Basic |
|
|
12,013 |
|
|
11,787 |
|
Diluted |
|
|
12,047 |
|
|
11,904 |
|
Standex International Corporation |
||||||
|
Condensed Consolidated Balance Sheets |
||||||
|
(unaudited) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
June 30, |
|
(In thousands) |
|
|
2025 |
|
|
2025 |
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
98,653 |
|
$ |
104,542 |
|
Accounts receivable, net |
|
|
166,668 |
|
|
172,702 |
|
Inventories |
|
|
135,777 |
|
|
129,994 |
|
Prepaid expenses and other current assets |
|
|
86,475 |
|
|
73,641 |
|
Total current assets |
|
|
487,573 |
|
|
480,879 |
|
|
|
|
|
|
|
|
|
Property, plant, equipment, net |
|
|
159,596 |
|
|
160,364 |
|
Intangible assets, net |
|
|
218,164 |
|
|
225,757 |
|
Goodwill |
|
|
599,923 |
|
|
610,338 |
|
Deferred tax asset |
|
|
11,522 |
|
|
11,971 |
|
Operating lease right-of-use asset |
|
|
46,950 |
|
|
47,998 |
|
Other non-current assets |
|
|
31,136 |
|
|
29,573 |
|
Total non-current assets |
|
|
1,067,291 |
|
|
1,086,001 |
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
1,554,864 |
|
$ |
1,566,880 |
|
|
|
|
|
|
|
|
|
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY |
|
|
||||
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Accounts payable |
|
$ |
87,704 |
|
$ |
88,001 |
|
Accrued liabilities |
|
|
66,654 |
|
|
63,204 |
|
Income taxes payable |
|
|
15,339 |
|
|
15,770 |
|
Total current liabilities |
|
|
169,697 |
|
|
166,975 |
|
|
|
|
|
|
|
|
|
Long-term debt |
|
|
544,623 |
|
|
552,515 |
|
Operating lease long-term liabilities |
|
|
38,399 |
|
|
40,057 |
|
Accrued pension and other non-current liabilities |
|
|
67,337 |
|
|
67,743 |
|
Total non-current liabilities |
|
|
650,359 |
|
|
660,315 |
|
|
|
|
|
|
|
|
|
Redeemable non-controlling interest |
|
|
27,149 |
|
|
27,913 |
|
|
|
|
|
|
|
|
|
Stockholders' equity: |
|
|
|
|
|
|
|
Common stock |
|
|
41,976 |
|
|
41,976 |
|
Additional paid-in capital |
|
|
137,415 |
|
|
136,082 |
|
Retained earnings |
|
|
1,138,071 |
|
|
1,126,851 |
|
Accumulated other comprehensive loss |
|
|
(179,185) |
|
|
(164,765) |
|
Treasury shares |
|
|
(430,618) |
|
|
(428,467) |
|
Total stockholders' equity |
|
|
707,659 |
|
|
711,677 |
|
|
|
|
|
|
|
|
|
Total liabilities, redeemable noncontrolling interest and stockholders' equity |
|
$ |
1,554,864 |
|
$ |
1,566,880 |
|
Standex International Corporation and Subsidiaries |
||||||
|
Statements of Consolidated Cash Flows |
||||||
|
(unaudited) |
||||||
|
|
|
|
Three Months Ended |
|||
|
|
|
|
September 30, |
|||
|
(In thousands) |
|
|
2025 |
|
2024 |
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
|
Net income (loss) |
|
$ |
15,795 |
$ |
18,197 |
|
|
Income (loss) from discontinued operations |
|
|
(27) |
|
9 |
|
|
Income from continuing operations |
|
|
15,822 |
|
18,188 |
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
9,817 |
|
7,061 |
|
|
Stock-based compensation |
|
|
1,774 |
|
2,568 |
|
|
Non-cash portion of restructuring charge |
|
|
149 |
|
(143) |
|
|
Contributions to defined benefit plans |
|
|
(1,285) |
|
(3,379) |
|
|
Net changes in operating assets and liabilities |
|
|
(9,469) |
|
(6,748) |
|
|
Net cash provided by (used in) operating activities - continuing operations |
|
|
16,808 |
|
17,547 |
|
|
Net cash provided by (used in) discontinued operations |
|
|
18 |
|
26 |
|
|
Net cash provided by (used in) operating activities |
|
|
16,826 |
|
17,573 |
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
Expenditures for property, plant and equipment |
|
|
(6,420) |
|
(6,725) |
|
|
Other investing activities |
|
|
59 |
|
411 |
|
|
Net cash provided by (used in) investing activities - continuing operations |
|
|
(6,361) |
|
(6,314) |
|
|
Net cash provided by (used in) investing activities - discontinued operations |
|
|
- |
|
- |
|
|
Net cash provided by (used in) investing activities |
|
|
(6,361) |
|
(6,314) |
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
Payments of debt |
|
|
(8,000) |
|
- |
|
|
Distribution to non-controlling interests |
|
|
(725) |
|
- |
|
|
Cash dividend paid |
|
|
(3,836) |
|
(3,528) |
|
|
Purchase of treasury stock and other |
|
|
(4,072) |
|
(4,381) |
|
|
Activity under share-based payment plans |
|
|
1,140 |
|
1,637 |
|
|
Net cash (used in) financing activities |
|
|
(15,493) |
|
(6,273) |
|
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
(861) |
|
5,395 |
|
|
Net change in cash and cash equivalents |
|
|
(5,889) |
|
(10,381) |
|
|
Cash and cash equivalents at beginning of period |
|
|
104,542 |
|
154,203 |
|
|
Cash and cash equivalents at end of period |
|
$ |
98,653 |
$ |
164,584 |
|
|
Standex International Corporation |
|||||||
|
Selected Segment Data |
|||||||
|
(unaudited) |
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|||
|
|
|
|
September 30, |
|
|||
|
(In thousands) |
|
|
2025 |
|
|
2024 |
|
|
Net Sales |
|
|
|
|
|
|
|
|
Electronics |
|
$ |
110,553 |
|
$ |
77,733 |
|
|
Engineering Technologies |
|
|
29,894 |
|
|
20,530 |
|
|
Scientific |
|
|
19,450 |
|
|
17,693 |
|
|
Engraving |
|
|
35,840 |
|
|
33,363 |
|
|
Specialty Solutions |
|
|
21,694 |
|
|
21,145 |
|
|
Total |
|
$ |
217,431 |
|
$ |
170,464 |
|
|
|
|
|
|
|
|
|
|
|
Income from operations |
|
|
|
|
|
|
|
|
Electronics |
|
$ |
28,283 |
|
$ |
17,027 |
|
|
Engineering Technologies |
|
|
3,617 |
|
|
5,824 |
|
|
Scientific |
|
|
4,678 |
|
|
4,749 |
|
|
Engraving |
|
|
6,537 |
|
|
4,010 |
|
|
Specialty Solutions |
|
|
2,889 |
|
|
3,548 |
|
|
Gain (loss) on sale of business |
|
|
- |
|
|
(1,086) |
|
|
Restructuring |
|
|
(5,997) |
|
|
- |
|
|
Acquisition related costs |
|
|
(136) |
|
|
(1,840) |
|
|
Corporate |
|
|
(10,237) |
|
|
(8,133) |
|
|
Other operating income (expense), net |
|
|
- |
|
|
- |
|
|
Total |
|
$ |
29,634 |
|
$ |
24,099 |
|
|
Standex International Corporation |
|||||||||
|
Reconciliation of GAAP to Non-GAAP Financial Measures |
|||||||||
|
(unaudited) |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|||
|
|
|
|
|
September 30, |
|
|
|||
|
(In thousands, except percentages) |
|
|
2025 |
|
|
2024 |
|
% Change |
|
|
Adjusted income from operations and adjusted net income from continuing |
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
$ |
217,431 |
|
$ |
170,464 |
|
27.6 % |
|
|
Income from operations, as reported |
|
$ |
29,634 |
|
$ |
24,099 |
|
23.0 % |
|
|
|
Income from operations margin |
|
|
13.6 % |
|
|
14.1 % |
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
Restructuring charges |
|
|
5,997 |
|
|
1,086 |
|
|
|
|
Acquisition-related costs |
|
|
433 |
|
|
1,840 |
|
|
|
|
Amortization of acquired intangible assets |
|
|
4,537 |
|
|
2,005 |
|
|
|
|
Purchase accounting expenses |
|
|
993 |
|
|
- |
|
|
|
Adjusted income from operations |
|
$ |
41,594 |
|
$ |
29,030 |
|
43.3 % |
|
|
|
Adjusted income from operations margin |
|
|
19.1 % |
|
|
17.0 % |
|
|
|
|
Interest and other income (expense), net |
|
|
(8,647) |
|
|
(949) |
|
|
|
|
Provision for income taxes |
|
|
(5,165) |
|
|
(4,962) |
|
|
|
|
Discrete and other tax items |
|
|
- |
|
|
(72) |
|
|
|
|
Tax impact of above adjustments |
|
|
(3,005) |
|
|
(1,183) |
|
|
|
Net income from continuing operations, as adjusted |
|
|
24,777 |
|
|
21,864 |
|
13.3 % |
|
|
|
Less: net income attributable to redeemable noncontrolling interest |
|
|
739 |
|
|
- |
|
|
|
Net income attributable to Standex International, as adjusted |
|
$ |
24,038 |
|
$ |
21,864 |
|
9.9 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA and Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
Net income (loss) from continuing operations, as reported |
|
$ |
15,822 |
|
$ |
18,188 |
|
-13.0 % |
|
|
|
Net income from continuing operations margin |
|
|
7.3 % |
|
|
10.7 % |
|
|
|
Add back: |
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
|
5,165 |
|
|
4,962 |
|
|
|
|
Interest expense |
|
|
8,912 |
|
|
977 |
|
|
|
|
Depreciation and amortization |
|
|
9,817 |
|
|
7,061 |
|
|
|
EBITDA |
|
$ |
39,716 |
|
$ |
31,188 |
|
27.3 % |
|
|
|
EBITDA Margin |
|
|
18.3 % |
|
|
18.3 % |
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
Restructuring charges |
|
|
5,997 |
|
|
1,086 |
|
|
|
|
Acquisition-related costs |
|
|
433 |
|
|
1,840 |
|
|
|
|
Purchase accounting expenses |
|
|
993 |
|
|
- |
|
|
|
Adjusted EBITDA |
|
$ |
47,139 |
|
$ |
34,114 |
|
38.2 % |
|
|
|
|
|
|
21.7 % |
|
|
20.0 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Free operating cash flow: |
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities - continuing operations, as |
|
$ |
16,808 |
|
$ |
17,547 |
|
|
|
|
Less: Capital expenditures |
|
|
(6,420) |
|
|
(6,725) |
|
|
|
|
Free cash flow from continuing operations |
|
$ |
10,388 |
|
$ |
10,822 |
|
|
|
|
Standex International Corporation |
||||||||||
|
Reconciliation of GAAP to Non-GAAP Financial Measures |
||||||||||
|
(unaudited) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|||
|
Adjusted earnings per share from continuing operations |
|
|
September 30, |
|
|
|
||||
|
|
|
2025 |
|
|
2024 |
|
%
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share from net income attributable |
|
$ |
1.25 |
|
$ |
1.53 |
|
-18.3 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring charges |
|
|
0.37 |
|
|
0.07 |
|
|
|
|
|
Acquisition-related costs |
|
|
0.02 |
|
|
0.12 |
|
|
|
|
|
Amortization of acquired intangible assets |
|
|
0.29 |
|
|
0.13 |
|
|
|
|
|
Discrete tax items |
|
|
- |
|
|
(0.01) |
|
|
|
|
|
Purchase accounting expenses |
|
|
0.06 |
|
|
- |
|
|
|
|
Diluted earnings per share from net income attributeable |
|
$ |
1.99 |
|
$ |
1.84 |
|
8.2 % |
|
|
View original content to download multimedia:https://www.prnewswire.com/news-releases/standex-reports-fiscal-first-quarter-2026-financial-results-302600304.html
SOURCE Standex International Corporation
