Kimball International Reports Strong Q3 Results
Kimball International, Inc.(NASDAQ:KBAL) reported its Q3 results, with revenue coming in at $180.9 million (up 30% year-over-year), above the consensus estimate of $171.8 million. Non-GAAP EPS was $0.21, beating the consensus estimate of $0.03.
Workplace and Health sales remained robust, growing 52% and 8% year-over-year, respectively. Hospitality sales declined 2% year-over-year, due to continued softness in travel levels. Orders grew across all segments, with Workplace, Health, and Hospitality delivering 36%, 2%, and 43% year-over-year growth, respectively.
Analysts at Berenberg Bank shared their views following the earnings announcement, expecting demand strength for Workplace orders to continue, given the ongoing population growth in secondary geographies (Kimball’s target market), and the emerging use of well-designed offices to attract and retain talent.
| Symbol | Price | %chg |
|---|---|---|
| 021240.KS | 60500 | 0 |
| SPTO.JK | 530 | 1.89 |
| WOOD.JK | 204 | 0 |
| 009240.KS | 56000 | -2.32 |
