STANDEX REPORTS FISCAL SECOND QUARTER 2026 FINANCIAL RESULTS

Rhea-AI Summary

Standex (NYSE: SXI) reported Q2 FY26 revenue of $221.3M, up 16.6% year‑over‑year, driven by new products (~7%) and sales into fast growth markets (~28%).

Adjusted operating margin rose 30 bps to 19.0%, record order intake produced a book‑to‑bill of 1.04, free cash flow was $13.0M, and net leverage declined to 2.3x.

Positive

• Revenue +16.6% YoY to $221.3M in Q2 FY26
• Adjusted operating margin expanded +30 bps to 19.0%
• Record quarterly order intake with book‑to‑bill of 1.04
• Fast growth market sales ~ $61M in Q2; on track to exceed $270M FY26
• Free cash flow improved to $13.0M and $10M of debt repaid

Negative

• Specialty Solutions revenue down 7.2% and operating income down 40.7% YoY
• Scientific segment organic decline of 2.6% linked to NIH funding cuts
• Net debt increased to $437.7M on Dec 31, 2025 from $413.2M year ago
• GAAP diluted EPS $0.17 versus adjusted diluted EPS $2.08 in Q2

News Market Reaction

+1.71%

2 alerts

+1.71% News Effect

+$54M Valuation Impact

$3.19B Market Cap

0.0x Rel. Volume

On the day this news was published, SXI gained 1.71%, reflecting a mild positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $54M to the company's valuation, bringing the market cap to $3.19B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q2 FY26 Net Sales: $221.3M Adj. Operating Margin: 19.0% Diluted EPS – Adjusted: $2.08 +5 more

8 metrics

Q2 FY26 Net Sales $221.3M 2Q26 vs $189.8M in 2Q25 (16.6% YoY increase)

Adj. Operating Margin 19.0% Q2 FY26, up 30 bps year‑on‑year

Diluted EPS – Adjusted $2.08 Q2 FY26 vs $1.91 in Q2 FY25 (8.9% YoY growth)

Free Cash Flow $13.0M Q2 FY26 vs $2.2M in Q2 FY25 (506.5% YoY increase)

FY26 Revenue Growth Outlook >$110M Expected increase over FY25 revenue

Fast Growth Market Sales FY26 >$270M Expected FY26 fast growth market sales, >45% YoY growth

Fast Growth Sales Q2 ≈$61M Q2 FY26 fast growth markets, ~28% of total sales

Net Debt $437.7M As of Dec 31, 2025; net debt to EBITDA 2.3x

Market Reality Check

Price: $240.00 Vol: Volume 85,505 is about 30...

normal vol

$240.00 Last Close

Volume Volume 85,505 is about 30% below the 20‑day average of 122,937, suggesting a muted pre‑news setup. normal

Technical Shares at $242.06 trade above the 200‑day MA of $196.99 and about 4.38% below the $253.14 52‑week high.

Peers on Argus

SXI slipped 1.23% with peers also lower: AMSC -2.3%, ATS -1.96%, EPAC -1.23%, PS...

SXI slipped 1.23% with peers also lower: AMSC -2.3%, ATS -1.96%, EPAC -1.23%, PSIX -3.37%, XMTR -0.83%, pointing to a broader group pullback despite strong earnings.

Previous Earnings Reports

5 past events · Latest: Oct 30 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Oct 30	Q1 FY26 earnings	Positive	-2.3%	Strong Q1 growth, margin expansion, higher FY26 revenue outlook and debt paydown.
Jul 31	Q4/FY25 earnings	Positive	+10.0%	Q4 sales up 23.2%, record 20.6% adjusted margin, strong EPS and debt reduction.
Jul 25	Earnings timing PR	Neutral	+2.0%	Announcement of Q4 FY25 results date and investor conference call details.
May 01	Q3 FY25 earnings	Positive	+9.8%	Q3 sales up 17.2%, record margins, fast growth markets at $60.4M and acquisition.
Apr 25	Earnings timing PR	Neutral	-1.2%	Scheduled Q3 FY25 results release and webcast with management commentary.

Pattern Detected

Earnings updates often trigger sizable moves, with generally positive results sometimes met by negative next‑day reactions.

Recent Company History

Over the past year, Standex has repeatedly reported strong growth and margin expansion. Q3 and Q4 FY25 earnings highlighted double‑digit sales increases, record adjusted operating margins above 19%, and fast growth market sales near $60M. Q1 FY26 results raised FY26 revenue expectations by >$110M, with fast growth markets projected to exceed $270M and >15 new products planned. Today’s Q2 FY26 release continues this trajectory with higher sales, record order intake, and reiterated FY26 growth and margin expansion targets.

Historical Comparison

earnings

+5.1 %

Average Historical Move

Historical Analysis

In the last five earnings‑tagged events, SXI moved an average of about 5.06%. Today’s -1.23% reaction to strong Q2 FY26 results sits on the smaller side of past earnings swings.

Typical Pattern

Recent earnings show a steady progression: Q3 and Q4 FY25 delivered double‑digit sales growth and record adjusted margins, Q1 FY26 raised FY26 revenue by >$110M, and Q2 FY26 reiterates that outlook while emphasizing fast growth markets and >15 planned new products.

Market Pulse Summary

This announcement highlights continued strength in Standex’s operating performance. Q2 FY26 net sale...

Analysis

This announcement highlights continued strength in Standex’s operating performance. Q2 FY26 net sales reached $221.3M with 16.6% year‑on‑year growth, a 19.0% adjusted operating margin, and record order intake. Management reiterated its FY26 outlook for revenue to grow by over $110M, fast growth market sales to exceed $270M with >45% growth, and more than 15 new product launches. Historically, earnings events have driven meaningful stock moves, so investors may track execution on organic growth, margin expansion, and segment‑level performance in Electronics and Engineering Technologies.

Key Terms

ebitda, adjusted ebitda, book to bill, non-gaap

4 terms

ebitda financial

"EBITDA | $45.1 | $16.1 | $39.7 | 180.3 % | 13.5 %"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

adjusted ebitda financial

"Adjusted EBITDA | $47.2 | $39.6 | $47.1 | 19.2 % | 0.2 %"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

book to bill technical

"Record Quarterly Order Intake with Book to Bill of 1.04; Electronics Book to Bill of 1.08"

Book-to-bill is a ratio that compares new orders received by a company (bookings) to the products or services it has shipped and invoiced (billings). It shows whether demand is growing faster than a company is delivering — like comparing new appointments made to services completed — and helps investors gauge future revenue momentum and potential supply or production strains.

non-gaap financial

"In addition to the financial measures prepared in accordance with generally accepted accounting principles ("GAAP"), the Company uses certain non-GAAP financial measures"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

AI-generated analysis. Not financial advice.

• In Q2 FY26, Sales Increased 16.6% YOY to $221.3 Million; New Products Sales Grew ~13% and Sales into Fast Growth Markets Contributed ~28% of Total Sales
• In Q2 FY26, Sales Increased 6.4% YOY Organically; Electronics Increased 11.1% YOY Organically
• Record Quarterly Order Intake with Book to Bill of 1.04; Electronics Book to Bill of 1.08
• Q2 FY26 GAAP Operating Margin of 16.1%; Adjusted Operating Margin of 19.0%, Up 30 bps YOY
• Reiterating FY26 Sales Outlook of >$110 Million Over FY25; Fast Growth Market Sales to Grow >45% and Exceed $270 Million; Plan to Release >15 New Products, Contributing ~300 bps of Growth

SALEM, N.H., Jan. 29, 2026 /PRNewswire/ -- Standex International Corporation (NYSE: SXI) today reported financial results for the second quarter of fiscal year 2026 ended December 31, 2025.

Summary Financial Results - Total
($M except EPS and Dividends)	2Q26	2Q25	1Q26	Y/Y	Q/Q
Net Sales	$221.3	$189.8	$217.4	16.6 %	1.8 %
Operating Income – GAAP	$35.6	$8.5	$29.6	320.3 %	20.0 %
Operating Income – Adjusted	$42.2	$35.5	$41.6	18.9 %	1.4 %
Operating Margin % - GAAP	16.1 %	4.5 %	13.6 %	+ 1160 bps	+ 250 bps
Operating Margin % - Adjusted	19.0 %	18.7 %	19.1 %	+ 30 bps	- 10 bps
Net Income from Continuing Ops – GAAP	$20.6	$1.3	$15.8	1,501.9 %	30.4 %
Net Income from Continuing Ops – Adjusted	$25.1	$22.9	$24.0	9.5 %	4.3 %
EBITDA	$45.1	$16.1	$39.7	180.3 %	13.5 %
EBITDA margin	20.4 %	8.5 %	18.3 %	+ 1190 bps	+ 210 bps
Adjusted EBITDA	$47.2	$39.6	$47.1	19.2 %	0.2 %
Adjusted EBITDA margin	21.3 %	20.9 %	21.7 %	+ 40 bps	- 40 bps
Diluted EPS – GAAP	$0.17	$0.07	$1.25	145.6 %	-86.4 %
Diluted EPS – Adjusted	$2.08	$1.91	$1.99	8.9 %	4.5 %
Dividends per Share	$0.34	$0.32	$0.32	6.3 %	6.3 %
Free Cash Flow	$13.0	$2.2	$10.4	506.5 %	25.5 %
Net Debt to EBITDA	2.3x	2.9x	2.4x	-20.8 %	-5.8 %

*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, "We delivered strong top-line results and operating performance in the fiscal second quarter. Our sales increased 16.6% year-on-year to $221.3 million driven by 7% contribution from new products and 28% contribution from sales into fast growth markets. We recorded 6.4% organic growth and book to bill of 1.04, led by our Electronics segment which grew 11.1% organically with book to bill of 1.08. We are well positioned to deliver mid-to-high single digit organic growth in the fiscal third quarter, primarily driven by new product launches, strong tailwinds in the electrical grid, defense and aviation end markets, and improving general industrial markets. Sales from fast growth markets totaled approximately $61 million in the fiscal second quarter and are expected to exceed $270 million in fiscal year 2026.

Adjusted operating margin expanded 30 basis points year-on-year to 19.0%. We paid down approximately $10 million of debt in the fiscal second quarter, and our net leverage ratio was reduced to 2.3x." 

Fiscal Third Quarter 2026 Outlook

In fiscal third quarter 2026, on a year-on-year basis, the Company expects significantly higher revenue, driven by mid-to- high single digit organic growth from higher sales into fast growth end markets and increased new product sales, and slightly higher adjusted operating margin due to higher volume and favorable product mix, partially offset by growth investments and higher medical costs.

On a sequential basis, the Company expects slightly to moderately higher revenue, driven by increased contributions from fast growth end markets and new product sales, and slightly to moderately higher adjusted operating margin due to higher volume and pricing and productivity initiatives, partially offset by growth investments.

Fiscal Year 2026 Outlook

The Company is reiterating its fiscal year 2026 sales outlook. In fiscal year 2026, barring any unforeseen economic, global trade, or tariffs related disruptions, the Company expects revenue to grow by over $110 million, driven by mid-to-high single digit organic growth in Electronics, double-digit organic growth in Engineering Technologies, and the contribution from recent acquisitions. The Company remains on course to release over fifteen new products that it expects will contribute approximately 300 bps of incremental growth. Sales from fast growth markets are on track to grow over 45% year-on-year and exceed $270 million. The Company expects continued adjusted operating margin expansion in fiscal year 2026.

Second Quarter Segment Operating Performance

Electronics (52% of sales; 63% of segment adjusted operating income)

	2Q26	2Q25	% Change
Electronics ($M)
Revenue	115.7	95.9	20.6 %
GAAP Operating Income	29.8	17.4	70.9 %
GAAP Operating Margin %	25.7	18.2
Adjusted Operating Income*	33.3	26.5	25.7 %
Adjusted Operating Margin %*	28.8	27.6

* Excludes the amortization of acquired intangible assets; Q2 FY25 restated to exclude the amortization of acquired intangible assets

Revenue increased approximately $19.7 million or 20.6% year-on-year, reflecting organic growth of 11.1%, an acquisition benefit of 9.1%, and a foreign currency benefit of 0.4%. Organic growth was driven by sales into fast growth markets and increased new product sales. Adjusted operating income increased approximately $6.8 million or 25.7% year-on-year due to higher volume, pricing initiatives, and product mix.

The segment had a book-to-bill ratio of approximately 1.08 in the fiscal second quarter, with orders of approximately $125 million.

In fiscal third quarter 2026, on a sequential basis, the Company expects slightly to moderately higher revenue, reflecting higher sales into fast growth end markets and increased new product sales. The Company expects similar adjusted operating margin, primarily due to product mix and continued strategic growth investments.

Engineering Technologies (14% of sales; 11% of segment adjusted operating income)

	2Q26		2Q25	% Change
Engineering Technologies ($M)
Revenue	30.6		22.7	35.3 %
GAAP Operating Income	4.4		3.7	18.6 %
GAAP Operating Margin %	14.3		16.3
Adjusted Operating Income*	5.8		3.7	56.6 %
Adjusted Operating Margin %*	18.9		16.3

* Excludes the amortization of acquired backlog and acquired intangible assets

Revenue increased approximately $8.0 million or 35.3% year-on-year reflecting a 33.4% benefit from the McStarlite acquisition, organic growth of 1.2%, and a foreign currency benefit of 0.6%. Organic growth was suppressed by delays in customer project timing. Adjusted operating income increased approximately $2.1 million or 56.6% year-on-year reflecting higher volume.

In fiscal third quarter 2026, on a sequential basis, the Company expects moderately to significantly higher revenue, due to growth in new product sales and more favorable project timing, and slightly to moderately higher adjusted operating margin due to higher volume.

Scientific (9% of sales; 9% of segment adjusted operating income)

	2Q26	2Q25	% Change
Scientific ($M)
Revenue	19.5	18.5	5.5 %
GAAP Operating Income	4.5	4.7	-4.9 %
GAAP Operating Margin %	23.0	25.5
Adjusted Operating Income*	4.7	5.0	-4.9 %
Adjusted Operating Margin %*	24.2	26.9

* Excludes the amortization of acquired intangible assets; Q2 FY25 restated to exclude the amortization of acquired intangible assets

Revenue increased approximately $1.0 million or 5.5% year-on-year reflecting an acquisition benefit of 8.1%, partially offset by an organic decline of 2.6% from lower demand at academic and research institutions that were impacted by NIH funding cuts. Adjusted operating income decreased approximately $0.2 million or 4.9% year-on-year due to the organic decline partially offset by contribution from the acquisition.

In fiscal third quarter 2026, on a sequential basis, the Company expects similar revenue and slightly lower adjusted operating margin due to product mix, investments in research and development, and tariff costs, partially offset by pricing and productivity initiatives.

Engraving (16% of sales; 13% of segment adjusted operating income)

	2Q26	2Q25	% Change
Engraving ($M)
Revenue	35.7	31.5	13.6 %
GAAP Operating Income	6.6	4.1	59.3 %
GAAP Operating Margin %	18.4	13.1
Adjusted Operating Income*	6.8	4.5	52.4 %
Adjusted Operating Margin %*	19.2	14.3

* Excludes the amortization of acquired intangible assets; Q2 FY25 restated to exclude the amortization of acquired intangible assets

Revenue increased approximately $4.3 million or 13.6% year-on-year reflecting organic growth of 10.3% from improved demand in Europe and North America and a foreign currency benefit of 3.3%. Adjusted operating income increased approximately $2.4 million or 52.4% year-on-year due to higher sales and the realization of previously announced productivity initiatives and restructuring actions.

In fiscal third quarter 2026, on a sequential basis, the Company expects similar revenue and slightly lower adjusted operating margin due to project and regional mix.

Specialty Solutions (9% of sales; 4% of segment adjusted operating income)

	2Q26	2Q25	% Change
Specialty Solutions ($M)
Revenue	19.8	21.3	-7.2 %
Operating Income	2.1	3.6	-40.7 %
Operating Margin %	10.7	16.7

Specialty Solutions revenue decreased approximately $1.5 million or 7.2% year-on-year. Operating income decreased approximately $1.5 million or 40.7% year-on-year.

In fiscal third quarter 2026, on a sequential basis, the Company expects moderately to significantly higher revenue and operating margin.

Capital Allocation

• Interest: In fiscal third quarter 2026, the Company expects interest expense between $7 million and $7.5 million.
• Share Repurchase: During the fiscal second quarter of 2026, the Company did not repurchase shares. There was approximately $28 million remaining on the Company's current share repurchase authorization at the end of the fiscal second quarter 2026.
• Capital Expenditures: In fiscal second quarter 2026, the Company's capital expenditures were $7.7 million compared to $7.0 million in the fiscal second quarter of 2025. The Company expects fiscal year 2026 capital expenditures between $33 million and $38 million. Capital expenditures were $28.3 million in fiscal year 2025.
• Dividend: On January 23, 2026, the Company declared a quarterly cash dividend of $0.34 per share, an approximately 6.3% year-on-year increase. The dividend is payable February 27, 2026, to shareholders of record on February 13, 2026.

Balance Sheet and Cash Flow Highlights

• Net Debt: Standex had net (cash) debt of $437.7 million on December 31, 2025, compared to $413.2 million at the end of fiscal second quarter 2025. Net (cash) debt for the second quarter of 2026 consisted primarily of long-term debt of $534.7 million and cash and equivalents of $97.0 million.
• Cash Flow: Net cash provided by continuing operating activities for the three months ended December 31, 2025, was $20.7 million compared to $9.1 million in the prior year's quarter. Free cash flow after capital expenditures was $13.0 million compared to free cash flow after capital expenditures of $2.2 million in the fiscal second quarter of 2025. 

Conference Call Details

Standex will host a conference call for investors tomorrow, January 30, 2026, 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 January 30, 2027. To listen to the teleconference playback, please dial in the U.S. (888) 660-6345 or (646) 517-4150 internationally; the passcode is 80581#. The audio playback via phone will be available through February 6, 2026. The webcast replay can be accessed in the "Investor Relations" section of the Company's website, located at www.standex.com.

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 the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, India, and China. For additional information, visit the Company's website at http://standex.com/.

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 Asia; the impact of inflation on the costs of providing our products and services; an inability to realize the expected cost savings from restructuring activities including effective completion of plant consolidations, cost reduction efforts including procurement savings and productivity enhancements, capital management improvements, strategic capital expenditures, and the implementation of lean enterprise manufacturing techniques; the potential for losses associated with the exit from or divestiture of businesses that are no longer strategic or no longer meet our growth and return expectations; the inability to achieve the savings expected from global sourcing of raw materials and diversification efforts in emerging markets; the impact on cost structure and on economic conditions as a result of actual and threatened increases in trade tariffs; the inability to attain expected benefits from acquisitions and the inability to effectively consummate and integrate such acquisitions and achieve synergies envisioned by the Company; increased costs from acquisitions to improve and coordinate managerial, operational, financial, and administrative systems, including internal controls over financial reporting and  compliance with the Sarbanes-Oxley Act of 2002, and other costs related to such systems in connection with acquired businesses; market acceptance of our products; our ability to design, introduce and sell new products and related product components; the ability to redesign certain of our products to continue meeting evolving regulatory requirements; the impact of delays initiated by our customers; our ability to increase manufacturing production to meet demand including as a result of labor shortages; the impact on our operations of any successful cybersecurity attacks; and potential changes to future pension funding requirements. For a more comprehensive discussion of these and other factors, see the "Risk Factors" section of the Company's most recent annual report on Form 10-K filed with the SEC and available on the Company's website. In addition, any forward-looking statements represent management's estimates only as of the day made and should not be relied upon as representing management's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company and management specifically disclaim any obligation to do so, even if management's estimates change.

Standex International Corporation
Consolidated Statement of Operations
(unaudited)
			Three Months Ended						Six Months Ended
			December 31,			December 31,			December 31,			December 31,
(In thousands, except per share data)			2025			2024			2025			2024
Net sales		$	221,320			189,814		$	438,751		$	360,278
Cost of sales			129,087			118,367			256,086			218,758
Gross profit			92,233			71,447			182,665			141,520
Selling, general and administrative expenses			51,166			42,189			100,998			83,232
Restructuring costs			438			920			6,436			2,006
Amortization of acquired intangible assets			4,439			3,475			8,976			5,480
Acquisition related costs			617			16,400			1,049			18,240
Income from operations			35,573			8,463			65,206			32,562
Interest expense			7,914			5,575			16,826			6,552
Other non-operating (income) expense, net			490			890			225			862
Total			8,404			6,465			17,051			7,414
Income from continuing operations before income taxes			27,169			1,998			48,155			25,148
Provision for income taxes			6,536			710			11,701			5,672
Net income from continuing operations			20,633			1,288			36,454			19,476
Income (loss) from discontinued operations, net of tax			48			(13)			21			(4)
Net income			20,681			1,275			36,475			19,472
Less: net income attributable to redeemable noncontrolling interest			582			418			1,321			418
Less: change of redeemable noncontrolling interest to redemption value			17,979			-			17,979			-
Net income attributable to Standex International		$	2,120		$	857		$	17,175		$	19,054
Basic earnings per share:
Income (loss) from discontinued operations			0.00			(0.00)			0.00			(0.00)
Total income (loss) attributable to Standex International		$	0.17		$	0.07		$	1.43		$	1.60
Diluted earnings per share:
Income (loss) from discontinued operations			0.00			(0.00)			0.00			(0.00)
Total income (loss) attributable to Standex International		$	0.17		$	0.07		$	1.42		$	1.59
Average Shares Outstanding
Basic			12,043			11,942			12,027			11,872
Diluted			12,055			12,025			12,073			11,972

 

Standex International Corporation
Condensed Consolidated Balance Sheets
(unaudited)
			December 31,			June 30,
(In thousands)			2025			2025
ASSETS
Current assets:
Cash and cash equivalents		$	96,998			104,542
Accounts receivable, net			176,628			172,702
Inventories			131,196			129,994
Prepaid expenses and other current assets			85,912			73,641
Total current assets			490,734			480,879
Property, plant, equipment, net			160,378			160,364
Intangible assets, net			212,052			225,757
Goodwill			594,080			610,338
Deferred tax asset			11,687			11,971
Operating lease right-of-use asset			47,835			47,998
Other non-current assets			37,735			29,573
Total non-current assets			1,063,767			1,086,001
Total assets		$	1,554,501		$	1,566,880
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	87,773			88,001
Accrued liabilities			69,403			63,204
Income taxes payable			13,633			15,770
Total current liabilities			170,809			166,975
Long-term debt			534,733			552,515
Operating lease long-term liabilities			37,997			40,057
Accrued pension and other non-current liabilities			66,215			67,743
Total non-current liabilities			638,945			660,315
Redeemable non-controlling interest			44,511			27,913
Stockholders' equity:
Common stock			41,976			41,976
Additional paid-in capital			140,476			136,082
Retained earnings			1,136,096			1,126,851
Accumulated other comprehensive loss			(188,019)			(164,765)
Treasury shares			(430,293)			(428,467)
Total stockholders' equity			700,236			711,677
Total liabilities, redeemable noncontrolling interest and stockholders' equity		$	1,554,501		$	1,566,880

 

Standex International Corporation and Subsidiaries
Statements of Consolidated Cash Flows
(unaudited)
			Six Months Ended
			December 31,
(In thousands)			2025			2024
Cash Flows from Operating Activities
Net income		$	36,475			19,472
Income (loss) from discontinued operations			21			(4)
Income from continuing operations			36,454			19,476
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			19,801			15,566
Stock-based compensation			4,838			5,155
Non-cash portion of restructuring charge			149			(896)
Contributions to defined benefit plans			(2,796)			(4,766)
Net changes in operating assets and liabilities			(20,935)			(7,873)
Net cash provided by operating activities - continuing operations			37,511			26,662
Net cash provided by (used in) operating activities - discontinued operations			(127)			(31)
Net cash provided by (used in) operating activities			37,384			26,631
Cash Flows from Investing Activities
Expenditures for property, plant and equipment			(14,084)			(13,690)
Expenditures for acquisitions, net of cash acquired			-			(419,652)
Other investing activities			(5)			3,904
Net cash provided by (used in) investing activities			(14,089)			(429,438)
Cash Flows from Financing Activities
Proceeds from borrowings			8,000			724,313
Payments of debt			(26,000)			(339,110)
Contingent consideration payment			(330)			-
Activity under share-based payment plans			1,528			1,791
Purchase of treasury stock and other			(3,798)			(5,166)
Distributions to non-controlling interests			(1,598)
Cash dividends paid			(7,930)			(7,362)
Other financing activities			-			(4,415)
Net cash provided by (used in) financing activities			(30,128)			370,051
Effect of exchange rate changes on cash			(711)			(300)
Net changes in cash and cash equivalents			(7,544)			(33,056)
Cash and cash equivalents at beginning of year			104,542			154,203
Cash and cash equivalents at end of period		$	96,998		$	121,147

 

Standex International Corporation
Selected Segment Data
(unaudited)
			Three Months Ended						Six Months Ended
			December 31,						December 31,
(In thousands)			2025			2024			2025			2024
Net Sales
Electronics		$	115,668		$	95,923		$	226,220		$	173,656
Engineering Technologies			30,636			22,649			60,530			43,179
Scientific			19,502			18,477			38,952			36,170
Engraving			35,728			31,454			71,568			64,817
Specialty Solutions			19,786			21,311			41,481			42,456
Total		$	221,320		$	189,814		$	438,751		$	360,278
Income from operations
Electronics		$	29,765		$	17,419		$	58,048		$	34,446
Engineering Technologies			4,377			3,692			7,994			7,702
Scientific			4,488			4,718			9,167			9,467
Engraving			6,568			4,122			13,104			9,946
Specialty Solutions			2,112			3,562			5,000			7,110
Restructuring			(438)			(920)			(6,436)			(2,006)
Acquisition related costs			(617)			(16,400)			(1,049)			(18,240)
Corporate			(10,682)			(7,730)			(20,622)			(15,863)
Total		$	35,573		$	8,463		$	65,206		$	32,562

 

Standex International Corporation
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)
				Three Months Ended								Six Months Ended
				December 31,								December 31,
(In thousands, except percentages)				2025			2024		% Change			2025			2024		% Change
Adjusted income from operations and adjusted net income from continuing operations:
Net Sales			$	221,320		$	189,814		16.6 %		$	438,751		$	360,278		21.8 %
Income from operations, as reported			$	35,573		$	8,463		320.3 %		$	65,206		$	32,562		100.3 %
	Income from operations margin			16.1 %			4.5 %					14.9 %			9.0 %
Adjustments:
	Restructuring charges			438			920					6,436			2,006
	Acquisition-related costs			617			16,400					1,049			18,240
	Amortization of acquired intangible assets			4,439			3,475					8,976			5,480
	Litigation (settlement refund) charge			100			-					100			-
	Purchase accounting expenses			993			6,197					1,985			6,197
Adjusted income from operations			$	42,160		$	35,455		18.9 %		$	83,752		$	64,485		29.9 %
	Adjusted income from operations margin			19.0 %			18.7 %					19.1 %			17.9 %
	Interest and other income (expense), net			(8,404)			(6,465)					(17,051)			(7,414)
	Foreign currency related (gain) loss on acquisition and divestiture activities			-			554					-			554
	Provision for income taxes			(6,536)			(710)					(11,701)			(5,672)
	Discrete and other tax items			-			447					-			375
	Tax impact of above adjustments			(1,561)			(5,958)					(4,566)			(7,141)
Net income from continuing operations, as adjusted				25,659			23,323					50,434			45,187
	Less: net income attributable to redeemable noncontrolling interest			18,561			418					19,300			418
	Add back: change of redeemable noncontrolling interest to redemption value per the acquisition agreement			(17,979)			-					(17,979)			-
Net income from continuing operations attributable to Standex, as adjusted			$	25,077		$	22,905		9.5 %		$	49,113		$	44,769		9.7 %
EBITDA and Adjusted EBITDA:
Net income (loss) from continuing operations, as reported			$	20,633		$	1,288		1501.9 %		$	36,454		$	19,476
	Net income from continuing operations margin			9.3 %			0.7 %					8.3 %			5.4 %
Add back:
	Provision for income taxes			6,536			710					11,701			5,672
	Interest expense			7,914			5,575					16,826			6,552
	Depreciation and amortization			9,984			8,505					19,801			15,566
EBITDA			$	45,067		$	16,078		180.3 %		$	84,782		$	47,266		79.4 %
	EBITDA Margin			20.4 %			8.5 %					19.3 %			13.1 %
Adjustments:
	Restructuring charges			438			920					6,436			2,006
	Acquisition-related costs			617			16,400					1,049			18,240
	Litigation (settlement refund) charge			100			-					100			-
	Purchase accounting expenses			993			6,197					1,985			6,197
Adjusted EBITDA			$	47,214		$	39,595		19.2 %		$	94,352		$	73,709		28.0 %
	Adjusted EBITDA Margin			21.3 %			20.9 %					21.5 %			20.5 %
Free operating cash flow:
Net cash provided by operating activities - continuing operations, as reported			$	20,703		$	9,115				$	37,511		$	26,662
Less: Capital expenditures				(7,664)			(6,965)					(14,084)			(13,690)
Free cash flow from continuing operations			$	13,039		$	2,150				$	23,427		$	12,972

 

Standex International Corporation
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)
				Three Months Ended								Six Months Ended
Adjusted earnings per share from continuing operations				December 31,								December 31,
				2025			2024		% Change			2025			2024		% Change
Diluted earnings per share from continuing operations attributable to Standex, as reported			$	0.17		$	0.07		145.6 %		$	1.42		$	1.59		-10.6 %
Adjustments:
	Restructuring charges			0.03			0.06					0.39			0.13
	Acquisition-related costs			0.04			1.10					0.07			1.22
	Amortization of acquired intangible assets			0.28			0.22					0.57			0.35
	Gain on bargain purchase			-			-					-			-
	Litigation (settlement refund) charge			0.01			-					0.01			-
	(Gain) loss on sale of business			-			-					-			-
	Foreign currency related (gain) loss on acquisition and divestiture activities			-			0.03					-			0.03
	Environmental remediation			-			-					-			-
	Discrete tax items			-			0.04					-			0.04
	Purchase accounting expenses			0.06			0.39					0.13			0.39
	Change of redeemable noncontrolling interest to redemption value per the acquisition agreement			1.49			-					1.49			-
Diluted earnings per share from continuing operations attributable to Standex, as adjusted			$	2.08		$	1.91		8.9 %		$	4.08		$	3.75		8.8 %

 

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SOURCE Standex International Corporation

FAQ

What were Standex (SXI) Q2 FY26 sales and growth drivers?

Standex reported $221.3M in Q2 FY26 sales, up 16.6% year‑over‑year. According to the company, growth was driven by new product sales (~7% contribution) and fast growth market sales (about 28% of total sales).

How did Standex's margins perform in Q2 FY26 for SXI?

Adjusted operating margin rose to 19.0%, up 30 basis points year‑over‑year. According to the company, margin expansion reflected higher volume, pricing initiatives, and favorable product mix despite growth investments.

What is Standex's fiscal 2026 outlook for revenue and fast growth markets (SXI)?

Standex reiterated FY26 revenue growth of over $110M versus FY25 and expects fast growth market sales to grow >45% and exceed $270M. According to the company, >15 new products will contribute ~300 bps of growth.

What did Standex report about cash flow, debt, and capital allocation for SXI?

Free cash flow after capex was $13.0M in Q2 and the company repaid about $10M of debt, lowering net leverage to 2.3x. According to the company, $28M remained on the share repurchase authorization.

Which Standex segments showed the strongest and weakest Q2 FY26 performance for SXI?

Electronics led with revenue up 20.6% and a book‑to‑bill of 1.08; Specialty Solutions declined with revenue down 7.2% and operating income down 40.7%. According to the company, Electronics benefited from acquisitions and organic growth into fast markets.