Standex International Corp's (SXI) earnings for the second quarter have dropped compared to the corresponding quarter last year. However, they managed to surpass the market expectations.
The company reported a total earning of $18.87 million, equating to $1.59 per share. By contrast, during the same period last year, the earnings amounted to $20.04 million, equivalent to $1.69 per share.
When certain elements are excluded, Standex International Corp's adjusted earnings come in at $21.08 million, working out to $1.78 per share for the period.
According to data compiled by Thomson Reuters, the average analyst prediction for the period was an earning of $1.72 per share. It's important to note that these estimates typically do not include special items.
The quarter's revenue for the company also dipped by 5.0% to $178.40 million, down from $187.79 million during the same period last year.
A summary of the Standex International Corp's earnings following the Generally Accepted Accounting Principles (GAAP) indicates:
- Earnings for Q2 were $18.87 million, down from $20.04 million in the previous year.
- Earnings per share (EPS) for Q2 stood at $1.59, compared to $1.69 last year.
- Analysts had estimated an EPS of $1.72.
- Revenue for Q2 was $178.40 million, a drop from last year's $187.79 million.
