KE - Why Kimball Electronics Stock Dropped Today
2024-02-06 16:06:58 ET
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.
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Why Kimball Electronics Stock Dropped Today