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Kimball Electronics Reports Q3 Results and Reiterates Guidance for Fiscal 2025 With Sales and Operating Income Expected at High-End of Range; Company Adds New Facility to Support Strategy to Drive Growth in the Medical CMO

Third Quarter Fiscal 2025 Highlights

• Net sales totaled $374.6 million
• Operating income of $11.7 million, or 3.1% of net sales, adjusted operating income of 4.2%
• Inventory of $296.6 million, a reduction of $9.6 million from Q2
• Cash generated by operating activities of $30.9 million, the fifth consecutive quarter of positive cash flow
• Borrowings on credit facilities of $178.8 million, a $26.2 million decrease from the second quarter, and down $116 million, or 40%, in the fiscal year

JASPER, Ind.--(BUSINESS WIRE)-- Kimball Electronics, Inc. (Nasdaq: KE) today announced financial results for the third quarter ended March 31, 2025.

Commenting on today鈥檚 announcement, Richard D. Phillips, Chief Executive Officer, stated, 鈥淚鈥檓 proud of the results for the third quarter and our team鈥檚 ability to navigate an environment of uncertainty, while focusing on what is controllable. Sales in Q3 were in line with expectations, margins improved sequentially, cash generated from operating activities was positive for the fifth consecutive quarter, and the paydown of debt continued with borrowings now 45% lower than peak levels. We have ample liquidity to weather short-term unpredictability and significant dry powder to opportunistically invest in the business.鈥�

Mr. Phillips continued, 鈥淎s part of today鈥檚 release, we are reiterating our guidance for fiscal 2025 with an expectation of sales and operating income at the high-end of the range, as well as, announcing the addition of a new manufacturing facility in Indianapolis focused on the medical industry. This is another step of repositioning the Company for a return to growth and expanding our medical CMO strategy.鈥�

The Company ended the third quarter of fiscal 2025 with cash and cash equivalents of $51.4 million and borrowing capacity available of $253.2 million. Capital expenditures were $4.0 million, and the company invested $3.0 million to repurchase 175,000 shares of common stock.

Net Sales by Vertical Market for Q3 Fiscal 2025:

Company Guidance for Fiscal Year 2025

The Company expects to be at the high-end of its guidance range for both net sales and adjusted operating income. The range for net sales is $1.40 - $1.44 billion, while the range for adjusted operating income^(a) is 3.4% - 3.6% of net sales. Capital expenditures are estimated to be at the low-end of the guidance range of $40 - $50 million.

Forward-Looking Statements

Certain statements contained within this release are considered forward-looking, including our guidance, under the Private Securities Litigation Reform Act of 1995. The statements may be identified by the use of words such as 鈥渆xpect,鈥� 鈥渟hould,鈥� 鈥済oal,鈥� 鈥減redict,鈥� 鈥渨ill,鈥� 鈥渇uture,鈥� 鈥渙ptimistic,鈥� 鈥渃onfident,鈥� and 鈥渂elieve.鈥� Undue reliance should not be placed on these forward-looking statements. These statements are based on current expectations of future events and thus are inherently subject to uncertainty. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. These forward-looking statements are subject to risks and uncertainties including, without limitation, global economic conditions, geopolitical environment and conflicts such as the war in Ukraine, global health emergencies, availability or cost of raw materials and components, tariffs and other trade barriers, foreign exchange rate fluctuations, and our ability to convert new business opportunities into customers and revenue. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the company are contained in its Annual Report on Form 10-K for the year ended June 30, 2024.

Non-GAAP Financial Measures

This press release contains non-GAAP financial measures. The non-GAAP financial measures contained herein include constant currency growth, net sales excluding Automation, Test & Measurement, adjusted selling and administrative expenses, adjusted operating income, adjusted net income, adjusted diluted EPS, and ROIC. Reconciliations of the reported GAAP numbers to these non-GAAP financial measures are included in the Reconciliation of Non-GAAP Financial Measures section below. Management believes these measures are useful and allow investors to meaningfully trend, analyze, and benchmark the performance of the company鈥檚 core operations. The company鈥檚 non-GAAP financial measures are not necessarily comparable to non-GAAP information used by other companies.

About Kimball Electronics, Inc.

Kimball Electronics is a global, multifaceted manufacturer offering Electronics Manufacturing Services (EMS) and Contract Manufacturing Organization (CMO) solutions to customers around the world. From our operations in the United States, China, Mexico, Poland, Romania, and Thailand, our teams are proud to provide manufacturing services for a variety of industries. Recognized for a reputation of excellence, we are committed to a high-performance culture that values quality, reliability, value, speed, and ethical behavior. Kimball Electronics, Inc. (Nasdaq: KE) is headquartered in Jasper, Indiana.

To learn more about Kimball Electronics, visit .

Lasting relationships. Global success.

Financial highlights for the third quarter and year-to-date period ended March 31, 2025 are as follows:

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Andrew D. Regrut

Treasurer and Investor Relations Officer

812.827.4151

[email protected]

Source: Kimball Electronics, Inc.