Kimball Electronics (KE) Misses Q3 EPS by 4c

Kimball Electronics (NASDAQ: KE) reported Q3 EPS of $0.39, $0.04 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $310 million versus the consensus estimate of $321 million.

Donald D. Charron, Chairman and Chief Executive Officer, stated, “We are very pleased with our operating results for the third quarter of fiscal year 2021. Our team remains resilient as we work through the ongoing challenges caused by the pandemic and the global semiconductor shortage. Despite the adversity, we again delivered solid operating income exceeding our goal of 4.5%, and we continued to deliver excellent cash flow from operations, which on a year-to-date basis has more than doubled from the prior year.”

Mr. Charron continued, “Due to the global semiconductor shortage, a significant amount of our shippable backlog shifted out of Q3 and Q4 of fiscal year 2021 to the first half of fiscal year 2022. Many industry experts are forecasting the global semiconductor shortage will remain with us for most of this calendar year. However, when considering the semiconductor delivery commitments that we currently have from our suppliers, we are still expecting a very strong fourth quarter of fiscal year 2021 both sequentially and year-over-year.”

For earnings history and earnings-related data on Kimball Electronics (KE) click here.

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