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- **Record Q1 Growth**: 27.1% YoY revenue increase to $217.4 million, driven by acquisitions and new products. Orders hit $226 million, up 22% YoY.
- **Grid Dominance**: Standex Electronics Grid (formerly Amran Narain) delivered $35 million Q1 sales (+35% YoY), with 20%+ FY2026 growth expected. New Croatia/Mexico operations launched.
- **New Product Surge**: 4 new products launched Q1, with 15+ planned FY2026. New product sales to grow 40%+ to $78 million FY2026.
- **Margin Expansion**: 210 bps YoY margin improvement to 19.1%, with $5 million restructuring savings coming H2 FY2026.
- **Strong Liquidity**: $198 million available cash, net debt reduced to $446 million (2.4x leverage). FY2026 capex $33-35 million.

**【CEO Summary Section】**
- **Revenue Growth**: Fiscal Q1 2026 revenue increased 27.1% YoY to $217.4 million, driven by 26.6% acquisition contribution and 0.6% organic growth. New product sales grew 35% to $14.5 million, while fast-growth markets contributed $62 million (30% of total sales). Orders reached a record $226 million, with a book-to-bill ratio of 1.06.
- **Amran Narain Group (Grid) Performance**: Renamed Standex Electronics Grid, the group delivered $35 million in Q1 sales, exceeding 20% YoY growth expectations. Croatia and Mexico operations were launched to support grid modernization and data center demand. Organic orders in electronics rose 8% YoY, with mid-single-digit growth expected for FY2026.
- **Sales Outlook Update**: FY2026 revenue guidance raised to over $110 million growth, driven by new products (300+ bps incremental sales) and fast-growth markets ($270 million, +45% YoY). New product launches include 4 in Q1 and 15+ planned for FY2026.
- **Margin Improvement**: Adjusted operating margin expanded 210 bps YoY to 19.1%, with cost savings from $5 million restructuring actions expected to materialize in H2 FY2026. Net leverage ratio reduced to 2.4.

**【CFO Financial Commentary】**
- **GAAP/Non-GAAP Results**: GAAP net income was $42.1 million, while Non-GAAP EPS of $1.99 exceeded expectations. Free cash flow was $10.4 million, with $16.8 million from operations.
- **Segment Performance**: 
  - **Electronics**: $110.6 million revenue (+42.2% YoY), 28.8% margin (510 bps YoY expansion). Orders up 8% YoY, with mid-single-digit organic growth expected.
  - **Engineering Technologies**: $29.9 million (+45.6% YoY), 16.8% margin. Organic growth of 12.7% in space/defense.
  - **Scientific**: $19.5 million (-0.9% YoY), 25.3% margin. Organic decline due to NIH funding cuts.
  - **Engraving**: $35.8 million (+7.4% YoY), 19.1% margin. Restructuring savings expected H2 FY2026.
  - **Specialty Solutions**: $21.7 million (+2.6% YoY), 13.3% margin.
- **Liquidity**: $198 million available cash, net debt $446 million (down $8 million QoQ). FY2026 capex guidance $33-35 million.

**【Q&A Highlights】**
- **Optimization Strategy**: 2/3 of optimization journey complete. Focus on organic growth (new products/fast-growth markets) and portfolio simplification. FY2026 $40 million+ from new products/fast-growth.
- **Grid Growth**: Standex Electronics Grid orders remain >1.0 book-to-bill, with no slowdown seen. Croatia plant targets $60 million+ sales over 3-5 years.
- **Engraving Recovery**: North American auto market stabilizing, Europe/Asia showing signs of recovery. 20%+ margin achievable with market normalization.
- **Acquisition Appetite**: Leverage at 2.4x, reducing debt while maintaining powder for strategic tuck-ins. FY2026 capex to support growth.


Standex International Corporation (SXI) Q1 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

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Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

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Net Income

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SXI

SXI fundamentals

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