SXI - Earnings call 1 2024 | Standex International Corporation

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Operator

Good morning, and welcome to the Standex International Fiscal First Quarter 2024 Financial Results Call. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Christopher Howe, Director of Investor Relations. Please go ahead.

Huang Howe

Thank you, operator, and good morning. presentation Relations remarks website portion the on be at that Investor the of note accompanying can management's found www.standex.com. Please the company's X. to refer Standex' harbor on Please safe Slide statement

today's Matters differ conference and that materially. forward-looking statements uncertainties risks These subject statements. will actual that Standex discuss could other call predictions, cause estimates, management include expectations to and are on results to

a Standex' XX-K and refer to most list for as public as should report Form recent factors. You on risk filings well SEC announcements detailed of annual

interest, the excluding and In is adjusted that EBITDA acquisition-related EBITDA, which addition, earnings purchase I'd adjusted restructuring, margin taxes, today's margin. EBIT, discussion like depreciation taxes; measures and items; purchase expenses and earnings to which EBIT, remind will you and include of restructuring, onetime onetime EBITDA amortization; acquisition-related references non-GAAP EBITDA, accounting, and excluding expenses which EBITDA items; is which adjusted EBIT, is before interest accounting, before is to

financial refer additional also measures, results an intended measurement and to income as income, are operating adjusted to such non-GAAP will States. forma operating flow non-GAAP free and debt United These to We generally historical financial pro performance. measures net accepted operating earnings net the net provides continuing operations, margin, cash accordance a consistent provided of income, complement from serve with to in share, EBITDA. in principles that company's including the adjusted accounting Standex information comparison adjusted adjusted adjusted per other believes

David Financial and Dunbar; Standex' is Chairman, Chief Treasurer, today and Officer President Executive call the Officer, Chief On Ademir Sarcevic. and

David Dunbar

our Good Conference Quarter Chris. XXXX First morning, Fiscal Thank and welcome to you, Call.

our we highlight of quarter the our margin performance. quality results trend first fiscal businesses as of record operating continue Our

efforts of like results. and continued our their Board markets did and executives On support and that applications. would the of continued solid I and grow, drove fiscal fast-growth as top line, sales XXXX Directors thank sales quarter to our new our into products to for new the dedication employees, first

to we in XX% reported X.X% key will can XXXX. grew Engineering In quarter year XXXX. stream business end fast-growth in Engraving the markets to million everyone led million X, fiscal $XXX the and the $XX turn Technologies messages. anticipate in Now year-on-year Slide segments. organic year-on-year, We our this Sales reach fiscal by growth first approximately first quarter, revenue

strengthen addition, to In we on applications our positioning inorganic an continue gain to within and pipeline further opportunities active segment. Electronics work of value-added access to competitive our

signed reed Switch we and to and accounts. Co., a measurement applications. manufacturer Sanyu switching equipment in deepens in particular customer test access designer and electronics a agreement to portfolio Earlier definitive key acquire significantly our strengthens and this our other product acquisition a of week, relays This with strength

our to increase profitability XX.X% XXth continued of also a operating point was basis XXXX We of XX of execution from quarter the record margin and generate the quarter consecutive productivity segments year-on-year. a price margin. initiatives across strong adjusted operating first achieved Consolidated fiscal in adjusted and

Scientific, reported our margin operating reported Solutions X X than Engineering margin our Technologies of adjusted greater by business Our driven XX.X%. segments segments adjusted and XX%, margin than expansion was X all greater Specialty and operating segments.

in of first fiscal the cash highest our cash achieved We quarter. free flow million flow free in $XX.X generation quarter, ever the

further highlights the and businesses. of consistent Our improved generation quality our cash flow

acquisition growth million. as available was September position had $XX.X funnel of of opportunities. in We $XXX organic XX of and Our million to our healthy net invest debt liquidity approximately

year-on-year. XX very We of are improvement continued pleased ROIC see also quarter improved basis in our ROIC. Annualized to XXXX first fiscal points XX.X%

more foreign XXXX, as Minntronix from timing lower served by unfavorable offset development acquisition. China currency European work and quarter as contribution favorable in softness sequential we by revenue basis, well Electronics in our as fiscal and a Technologies in and Engineering expect slightly On the are project additional markets continued partially second

higher slightly compared initiatives. first of to margin similar expect realization adjusted and to due operating We pricing fiscal productivity to quarter continued XXXX

reaffirm fiscal approximately billion high capital targets financial margin outlook by XXXX. return organic than on greater than GAAP adjusted growth cash year sales, to include of net conversion free flow long-term in These XX% than greater XX%, our We $X greater of income. operating invested single-digit at and XXX%

we turn signed Switch acquire Sanyu Slide Co. agreement announced to this week to Sanyu Highlights from acquisition. our Japanese-based, Switch a X. Let's Co. We earlier definitive that

begin for sockets the overview test and With of and me manufactures applications. testing Japan, Tokyo, electronics an and designs other reed with other Let switching systems semiconductor and in relays, Sanyu company. corporate manufacturing headquarters

history, With high-quality is globally products was The and Standex' will reputation with expected highly close cash a and for and be culture. customer-focused respected funded the XX-year before balance a by Sanyu January transaction XXXX. regarded XX, to

with multiples paid. in is historical line valuation The

invested ownership. our We of year will expect account our per double-digit of footprint. product capital manufacturing and the key on acquisition and full engineering to to be The to a and first to return accretive geographic share enhance add relationships, our Sanyu breadth capability in achieve expand our earnings portfolio, acquisition strengthen

the the and increased acquisitions, dividend. the income lost will divestiture shareholders and annualized the revenue in to year of we cash Sanyu essentially divestiture Minntronix repurchases remaining through Procon first reinvestment in the returned deliver complete We our and process, from nearly from share and ownership. the of With proceeds the double operating an

to I detail. performance our to will Ademir turn over in now financial greater call discuss the

Ademir Sarcevic

David, and morning, you, Thank everyone. good

and Minntronix growth first acquisition foreign from from prior and net organic Slide basis, recent the On of turn This by quarter impact total consolidated divestiture. X.X% Let's XXXX revenue Procon a offset a to benefit X.X% year-on-year exchange, X, increased X.X% X.X% reflected summary. million. a to revenue $XXX.X

adjusted adjusted quarter operating history. consecutive margin XX.X%, to XXXX in points year-on-year quarter First XX operating increased margin highest XXth basis with the our company

consolidated year-on-year. operating adjusted on X.X% X.X% grew increase Our income revenue

X.X% ago, year-on-year. share first year of per quarter earnings in $X.XX an Adjusted growth $X.XX to compared XXXX a were the fiscal

compared of $X million use cash first of operating million Net by was XXXX ago. year a a activities $XX.X provided quarter to in the

Capital expenditures compared year million million were a ago. to $X.X $X.X

compared As a a million of result, free flow year quarter flow first million to XXXX cash was fiscal usage ago. $X free cash $XX.X approximately in

and Now to X.X%. million with Slide of and increased and please an X, partially XX% year-on-year begin currency, of segment organic I as acquisition recent benefit our performance will Segment X.X% Electronics. X.X% a $XX.X beginning benefit outlook to from turn Minntronix foreign offset by discuss a the decline revenue from

lower Adjusted as decreased operating mix. from of productivity pricing basis XX.X% points were by year-on-year fiscal sales and XXXX negatives the first margin unfavorable quarter offset XXX more organic than contribution and in

China industrial experience in end continue softness We and to Europe. and in appliances general markets

implementing cost-saving targeting and cost savings measures of approximately we additional expect response, in fully a implemented. yield we million G&A sold, goods once cost As $X annualized which are to

with substantially these end be by incur actions to the in quarter expect of and the current approximately $X.X We costs. complete restructuring million

as $XX business slow funnel, in fast-growth share renewable slightly by opportunity in Despite Europe, are revenue the which is in to Sequentially, quarter by approximately we and remain new continued second year-on-year fiscal in confident accelerate lower the also currently is markets energy offset China our as markets. Europe. our increase ability This and such China sales XXXX in and fast-growth high presence million. increased recovery in and expect smart we XX% at and markets automation, EV-related grid, reflected end softness market industrial

impact operating We as decline. than offset productivity revenue slight of the actions more the margin expect similar

for fiscal in and demand Engraving of foreign a and realization strong XX.X% million, growth to XXX in trim Europe growth by Operating Engraving basis to driven Slide be Asia. in increased revenue growth applications and of actions. due Organic points higher continues XX.X% quarter to year-on-year first XX.X% XXXX Please in turn driven from a discussion margin productivity organic to of soft increased volume and X% X currency. $XX.X the Scientific by segments. of benefit

strength our In on of quarter, margin and fiscal end due higher basis, similar markets. to a sequential the we underlying slightly operating next expect revenue continued

addition, site and well project the this in XXXX. start track the consolidation benefits we fiscal underway, in and fourth In of previously realizing project on announced Germany to are in quarter remain our Detroit

were Operating XXX and points academic due pricing Sequentially, than demand revenue we productivity by end of costs initiatives. similar million operating vaccine expect markets retail increased in Scientific to decreased margin as sales higher basis and X.X% and for to offset year-on-year the and from revenue freight $XX.X more margin. lower pharmacies. storage XX.X% research COVID lower

as In addition, this expand we our larger continue segment portfolio to we product customer to in access a invest in product new development base.

favorable This Now Technologies currency. increased Operating the segments. increased turn of similar new expect to project new of applications. of Engineering growth initiatives pricing benefit X.X% partially were moderately development $XX.X operating offset revenue, organic a of basis foreign and reflecting higher and million more discussion reflected Technologies as Slide from for a development a XXX X.X% X.X% Solutions X points higher year-on-year. year-on-year product a productivity revenue margin. we activities Sequentially, and Specialty level XX.X% and of by investments timing and towards margin Engineering and

segment by Display Display driven we decrease productivity and divestiture. Merchandising shipping margin Solutions Sequentially, primarily price $XX.X slight in million and and revenue XX.X% points the in year-on-year, operating margin decreased of due to businesses. Merchandising business. and Specialty Procon due Operating year-on-year, in fewer to XXX XX.X% increased revenue expect basis realization seasonality the of Hydraulics days a

million approximately of second year. net the million quarter, $XX X Next, fiscal $XXX capitalization million cash At prior had Standex' $XX.X of quarter remains available of strong. please and summary end for Slide net $XX.X compared structure, quarter which to an liquidity with the fiscal increase Standex statistics XXXX. the from ended of liquidity, to the a first the debt million of end fourth at of of turn Standex XXXX

at cash $XXX.X million. first $XXX.X debt and equivalents quarter the end long-term was million. fiscal totaled Standex' XXXX of Cash

million satisfy XXX,XXX restricted million quarter. With repurchases shares. of on first repurchased share includes we taxes $XX.X capital in regards allocation, for shares to $XX.X approximately the This vesting amount to of

expenditures approximately compared fiscal quarterly dividend cash declared million a and with XXXX, we dividend to to year-on-year. $XX fiscal in XXXth increase In also million share approximately million XXXX. capital We $XX between our per and expect X.X% to $X.XX $XX be increasing

takeaways discuss over first turn quarter I the will from results. now call our David our to to key

David Dunbar

our markets is Thank businesses, you, Slide XX. Standex position our fast-growth underlying to and our action driven end a to am of fiscal positioning. accelerating by in for strong increased growth our driven and strong team Ademir. was a sales within presence by turn in activity growing that deliver our by Please operational and new in quarter proud market our applications. performance competitive I first

profitability relationships presence, protect strong customer continued and disciplined for pricing and productivity to Our approach help and provides opportunity regional improvement. margin

a we profitable deliver through to confident are economic sustainable continue environment. the growth result, we will As current

complementary additional our allows continue to addition, our sheet strategy. inorganic investments pursue to us strong In to balance

U.S. end depending In growth, served across digit continued or by sales fiscal and China assuming of upon markets. XXXX, better mid-single markets and we end recovery Europe resilience Electronics expect

expect margin We our outlook. ahead of continued expansion long-term

We single-digit include fiscal financial of fiscal XXXX. fast-growth towards to our faster $X capital adjusted flow cash organic growth our to markets GAAP greater XX% continue revenue conversion than outlook anticipate market income. XXXX. billion to high year than approximately plus of These We operating margin by XX%, free sales, targets greater by of return of XXX% greater progress our on million net and long-term target $XXX reaffirm invested than in

questions. the We for will line open now

Operator

[Operator Instructions] from Moore question Securities. Chris Our first from comes CJS

Christopher Moore

talked softness could of in of I how little currently them. of better just terms or markets you any a and parse you're wonder both in thinking you So visibility EMEA. is about kind bit about there those if either in China those

David Dunbar

for of last cutting some it down. and about was there's looking that quarters has the seen kind like pasting those SST or about we've commented of we've of on and and peak Yes, comments and kind for slowdown, X coming destocking. so nearly things. X year quarters general magnetics, consumer both goods we've we're every industry at And at been here. There's backlog gradually those especially sort ago, appliances, a it -- quarter And seems

the bottomed to In -- though, months, couple seem of have last -- they seen orders it's be we months. X

So up, be Asia. they especially out and not may bottoming firming in a does but trend make, it

what you So you're a if that's of trend, -- for mean. if recent kind that's looking if

Christopher Moore

to about talk And anything EMEA, there? Yes. significant

David Dunbar

dramatic China. Similar was -- EMEA's not it's as as stabilizing. decline

coming more much expected Asia and spring, in see that. We we back in the didn't

this year, So -- earlier like -- starting there in in EMEA particular, flat. that's, I'd an say Germany, was and industrial recession

Ademir Sarcevic

Yes. And it's Ademir, then can I add. Chris, if

some reasons to of of Again, but was the Europe. kind some and are a the and too and more to we say. bit general we you China what it's of destocking. industrial we're that's And out, us, one might little For say, David bottoming our ties appliances end as early that that it to defense. Asia than And be Electronics And continue we down saying about going cost-out markets, announced taking business. offense playing feel distributors around of

be up the higher good very comes up, get market we'll organic when position So that at lever again a a in and growth to rate.

Christopher Moore

that. Got it. Appreciate

David Dunbar

me of The that. industry just Let a there. couple on general things headwind add is

-- You from players out hear sales there. sales fast-growth other XX%. vector market it our were fast-growth up But

sales product were new Our up.

application up. Our sales are

have we're as about we have positioning pick So an do us. they be And growth our up, we and -- markets. still these confident very that momentum, in accelerator for will

Christopher Moore

Got it. helpful. That's

I think mid-single 'XX's David, right? say, that heard digit. fiscal I get you is Did target for I the revenue

David Dunbar

mid-single back that little bit conditions. industry on a digit Depends extent there's China, plus. to number. It's Europe upside come general Yes, that the those to a stronger,

Christopher Moore

I appreciate maybe it. that. on just side. Got last EV one the And

unwillingness in electric given customers factory $XX know, don't I reasons The vehicles. pay building. postponing, is Ford for to billion extra So EV

curious your auto business could be of have it think kind impact you either ICE Just out? build that could if or on potentially

David Dunbar

With it's seeing is business had kind we doing ICE Our of of growing, pretty it's orders. And still EVs, we some but decelerating. well. rescheduling are -- have

anticipate thought that they you the reading, because had we mentioned would less all our we're in than into 'XX Ford. and sales EVs will we So grow headlines of

Operator

next comes Michael The Legg from question Benchmark. from

Michael Legg

that from little a and bit you chain an pricing to and Can perspective? ability what talk seeing on organic you're supply what environment, pass the about means your that customers your growth to inflationary in

Ademir Sarcevic

Ademir, Yes, it's Mike. Yes.

quarters you kind cost it's ago. pressures. we as how at we freight So not of the seeing of are if yes, of deflation, exploded you few was bit because it's know think a and Oceanic But still still specifically, it I a will, I a pre-COVID some mean, And strong levels as during are frankly, COVID. seeing kind inflationary is a

pretty environment you sure pretty electronics. in we way that and few even seen, margin we're developed softer to We margin, price markets able XX around we years one that solid playbook. because protect a have that expect have in by continue in be be do and history. ago, company adjusted will and of the of playbook to do with we operating as price reasons consecutive quarters the of to a good make want and and the productivity. that productivity. managing have We abide end we we a productivity, continue combination highest to had And A to the And able price of to is

take on my it. be will that So

Michael Legg

give then just on on other with ENEL question. you've there And ENEL. one On your you that, at over technology, developed some comments going just for please? solar, Can us lots

David Dunbar

Yes.

spending that you year and industrialization with and developed we're think -- that So and special before some we're prepared target launch as to we're developed project, we've know, together sure we reported that this complete make ENEL, technology products that to quality. we've cost

commercial that over XX is in market year quite a and project. panels for a solar Chinese happened There price There's here. for there, there. are the two environment to panels million ago. talking changed XX% commercial solar estimates panels have And bit. things in it significant inventory external The Remember, was panel about kind what Europe, the of we're has

much year competitive market than a was So ago. more there end

portfolio canceled second of external government-owned, the The been government-owned reviewing projects. they're a a process assets. there, of Italian of -- is in project their selling the ENEL renewable ENEL projects. -- leader impact government some new to entire new the partly appointed is They've They've and couple

for the that global So back other if to significant. about XX% deploy the -- we're looking solar of technology. of where and panels, attractive market niche The best markets way There's XX% things for is some those best the panels into is project, potentially but there. you add kind market commercial at the is what's stepping

at, introduce the stepping we're to is in that. in this back So technology we'll the a and direction so, or a have looking quarter there better clearer And place on next market?

Operator

[Operator question comes Barrington Research. next Instructions] Gary Prestopino from Our from

Gary Prestopino

planned acquisition, that bring Sanyu or what market? already of acquisition product-wise overlap? there The have customer questions. in you they don't any do of couple the A And is the

David Dunbar

relays concentration of in a automated -- bit customer their have test they selling customers little a high into There's but overlap, equipment.

even you systems, if for management putting are a in things think tested. grid that place smart So manufacturing battery products, our these need to all XG process products, be of

more As points. think complex, the testing the more for a when there depends testing is relays. of are every get point, a you -- you they relay, of so And of it specifics really need lot design on

pieces the in those design worked developed equipment with than The to Sanyu and these measurement. knowledge our measurement test companies an that's test has knowledge team and application there and of deeper test

pull base complementary they they way look effect don't market, equipment, smart our And business about growth it's both XG, test application measurement see the the and at they in report talk growth and expertise this this in secondary we we So kind bring this but serve of markets bring. grid, markets customer when also the in when the those EVs, fast we we the a market. of growth is through although it,

already, product expertise our us our it's more new and some So line best position brings relays. It globally. This customers. application the strengthens

Gary Prestopino

Can the you close some you give actually us idea you or until it? can't revenues of

David Dunbar

Yes.

less want income sale announced Procon. A is way of So after operating about few when that, proceeds replaced is the from months that from sales we Procon, announced and the April first, the replaced Procon. the think -- than we to that we we half Minntronix. -- And to in the for we the

bought more you For we the operating back shares. about we've add revenue proceeds, to And the Procon. than now Minntronix lost and we increased the lost extra with income if our Sanyu, and and price, the same dividend we've doubled

and little potential. but of the could operating So sales bit income as you code Minntronix size of think this to roughly there, I a know of in we're talking

Ademir Sarcevic

to us can add if just I better with had potential growth think, it Gary, does And a that, I Procon. what much than give we

revenue we of great term. the those the in long over potential -- with first ownership year with proceeds growth So replaced with operating businesses, a the double ROIC income X ROI double-digit double a with and a

So we feel good it. about pretty

Gary Prestopino

when of industrial. that are next the markets and the segment. being about profit are are And appliances, that, impacting are the couple the sales get talking growth questions general surround -- end Okay. operating growth applications Electronics What -- I The there? served you're

David Dunbar

your of switches, into reed process of of switches [ [ for systems ] security systems. These in ] systems level a irrigation systems construction, Commercial contain in everything lot contain tanks infra away wound from measurement liquids building that plants. irrigation

So I general the industry. many, are many, applications. mean term that's why we use many There end

Gary Prestopino

I the same America? North Okay. too, States, serving United mean, you in applications are the

David Dunbar

Yes.

Although -- we based with if I the of sophisticated and North think to products And products. much you yes, more -- for manufacturing be in more volume tend many about value-add tend America there's China applications. those guess, higher to

impact any seen haven't market. in a our into end but switch reed North that's we smaller So sales America,

Gary Prestopino

adjusted this an -- have shown and income issues China the that ex-ing Europe in Would in and business are and industrial? out general increase the appliances operating in

Ademir Sarcevic

Yes.

Gary Prestopino

right. All Okay.

David Dunbar

has change also reported the do with Part margin the to in of group mix.

You margin probably and recall sensors. business that switches SST, lower the general has in Magnetics than

margins mix little your So bit But underlying businesses, the in changes, margin. a are that as the down improving. mix

Ademir Sarcevic

right. that's Right,

Operator

from Ross Our from next William comes question Sparenblek Blair.

Ross Sparenblek

help well. coming a what some it that And know looks margins. for on is give of that Chris' put I demand sense Chinese are drive half I like expectations finer us can to a backlog? point second sitting maybe the in least, pretty the question the decently with rescheduling through orders with stable could those mean at just were, EVs, you Maybe

helpful. that around be would anything So

David Dunbar

and seeing America primarily. the we're Well, Europe -- seeing we're in North slowdown is

we would XXX said, are is at those than China in more you As vehicles operate China volts. -- in plugging

in I a a awarded an getting American for but we're do of So those yes, and what of is the kind platform, the get what an we of EV is with you, that and from have scheduled backlog we we a the schedule. -- quarter from don't think they European -- what schedule some of they'll number annual need pushout OEM get

Ross Sparenblek

growth have Chinese right? should you that adoption, at in still some and is expectation volume from the least The half some good second year-over-year Yes.

David Dunbar

Yes, North Chinese in that's as just also adoption, anticipate China, going we as or we Europe, much Growth in some Europe. in America, slightly growth, up. flat growth had but to not be thought.

Ademir Sarcevic

a X is ICE. as our good Ross, EV per reminder in the And just to is content Xx content

of the long the as at even content But is and the us. change, slowing are EVs seeing rate, think the benefiting the and growth we're ahead. are they a David's growing, still content thing -- are in So that good down. growing the And these from we for to still to expect all we because headlines point, days lower again, some pushouts, a our is it's continue if I as of years

Ross Sparenblek

That's $X to of mean million the Eddie this absolutely. everything pretty coming steady seemed half. why quarter, actions. savings No, cost the Yes. I in I'm second in trying reconcile

do Now feels it volume The some wasn't we restructuring, like to understand that the so need maybe magnetics. the I with mix changed. low something year-over-year.

of the Electronics. mean I just and general at kind So that's is industrial for you concern guys PMI or just pause slowing, generally,

David Dunbar

Yes. Because product as new to Chris' numbers, question, new we up. they're I are as market growing think mentioned fast-growth thought. are And not fast our the sales before, applications up, I

distribution applications kind there. and through legacy-based and sundry general business the just the not It's that So through problem this mentioned various earlier. of is I

Ademir Sarcevic

Electronics, cost will. you goods again, targets X% But of this this some almost structure, that action make be is office working improving R&D. quarter. market our the -- cost expansion of we one And those R&D the not our look of those of are But progress some way we we protecting back of X% at through are to touching continue we softness, components. might margin softness. part sure our -- And is of to as hit these accelerating actions margins because sold the always margins and we're Yes. gave, we the just revenue if our our of

we that preserving growth priority. are important really that's still So our

Ross Sparenblek

Yes. anything? Yes. that's excellent, Yes, EV,

David Dunbar

I an to no. kind sorry, cost endure. caution, general thinking softness knowing industry No, is will I'm of reduction not yes. was abundance say, of in going I'm just the

product cautious, cost particularly So line yes. do and opportunities the that not shoot affect top

Ross Sparenblek

on quick Obviously, timing be to that Really of project commercial strong kind thought quarter second of that second a pipeline. here. space going another of just Okay. really expectations half quarter, more a I strong and the was story. for understanding

any concerned to I is to be some we pretty mean, Eddie. expansion we're enough this material going through backlog forward with, pull from So the move right? as steady from year. There's see the wasn't there mix that

David Dunbar

Yes. would a The say the about steady business. one project I is, Eddie only thing as you is know, it

move So with It's X into said. projects can steady with of but cross I'd debt caveat, you next, quarter the from and that everything agree pretty Eddie.

a have We good backlog.

good that are growing. have We number a of platforms

Operator

conference session. concludes the This question-and-answer David back to turn like Dunbar for closing I remarks. would over any our to

David Dunbar

I speaking We We for forward fiscal for our our contributions. enjoy want shareholders right. to continued and us for at call. want thank and Standex. in second the to And on to finally, joining your look XXXX All again, of thank I quarter you with reporting support our progress everybody employees again all call.

Operator

has for concluded. presentation. you Conference attending today's Thank now

You may now disconnect.

Standex International (SXI) 3 Nov 232024 Q1 Earnings call transcript