Kimball Electronics Reports Q1 Results and Confirms Guidance for Fiscal Year 2025, Company Continues to Sharpen Its Strategic Focus With Closure of Its Manufacturing Facility in Tampa, FL
First Quarter Fiscal 2025 Highlights Net sales totaled $374.3 million Operating income of $9.1 million, or 2.4% of net sales, adjusted operating income of 3.4% Cash generated by operating activities of $45.5 million, borrowings on credit facilities reduced to 2-year low Company continues to sharpen its strategic focus by completing the divestiture of the Automation, […]
STRATTEC SECURITY CORPORATION Reports Fiscal 2025 First Quarter Financial Results
Generated cash from operations of $11.3 million Reduced pre-production costs, primarily customer tooling, by $6.9 million Grew revenue 2.7% year-over-year, reflecting ongoing pricing benefit and higher overall sales Achieved gross margin of 13.6% versus 13.8% in prior-year period (which included a 470 bps net benefit of one-time pricing) Rethinking product portfolio and identifying opportunities to […]
Colourful Collab: 3M and Axalta to launch training content for automotive refinishing
Above: Patricia Morschel, vice president of marketing and commercial operations for Axalta global refinish; Troy Weaver, director of global refinish, Axalta; and Dave Gunderson, president, 3M Automotive Aftermarket division. Las Vegas, Nevada — 3M and Axalta have announced a collaboration to introduce a new training content series focused on automotive refinishing. The series will feature […]
Marking Milestones: Tropicana Community Services celebrates auto body and collision repair pre-apprenticeship graduates
Toronto, Ontario — Tropicana Community Services recently celebrated the graduation of its 2023 and 2024 classes in the Auto Body and Collision Damage Repairer 310B Pre-Apprenticeship Program. Marking 14 years of the organization’s dedication to skills development in the Canadian collision repair industry, the ceremony highlighted the program’s role in addressing the skilled labour needs […]
Tuesday Ticker: Magna lowers 2024 guidance; Ford to hit the ‘lower end’ of 2024 earnings forecast, automaker warns
Toronto, Ontario — In this weekly Tuesday Ticker, Magna reports better-than-expected Q3 financials—yet still lowers its guidance amid global vehicle production slumps. Meanwhile, Ford warns investors that it will hit the ‘lower end’ of predicted earnings in 2024. Production problems Shares of Magna International rose 7.8 percent following better-than-expected Q3 2024 results—though the Ontario-based auto […]
Navigating New Norms: 2024 MSO Symposium emphasizes AI integration, risk management, data security and more
Las Vegas, Nevada — The 2024 MSO Symposium kicked off industry week in Las Vegas, Nevada, on Monday. The pivotal gathering held exclusively for multi-shop owners and operators in the collision repair industry, now in its 13th year, brought together industry leaders to share insights, discuss challenges and explore opportunities in a rapidly evolving market. […]
Restoration Realizations: Saskatchewan Polytechnic autobody students restore 1959 Impala
Saskatoon, Saskatchewan — In October, Scott Kucharyshen, program head for Saskatchewan Polytechnic’s autobody repair program, shared that a class of autobody students successfully restored a 1959 Impala. Collision Repair magazine reached out to Kucharyshen about the project who commented that “at Saskatchewan Polytechnic, each cohort of autobody certificate students undertakes a unique restoration project.” The […]
