Why Kimball Electronics Stock Dropped Today
Shares of Kimball Electronics (NASDAQ: KE) are down 14.3% as of 3:45 p.m. ET Tuesday after the electronics manufacturing solutions provider announced disappointing quarterly results.
For its fiscal second quarter of 2024 ended Dec. 31, 2023, Kimball's net sales declined 4% year over year to $421.2 million, including a 1% tailwind from foreign currency exchange. On the bottom line, that translate to adjusted (non-GAAP) earnings of $8.3 million, or $0.33 per share, down from $0.44 per share in the same year-ago period.
Analysts, on average, were expecting earnings of $0.40 per share on revenue of $435 million.
Source Fool.com
