Daktronics (NASDAQ:DAKT) Bolsa

Daktronics

Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.

Daktronics Inc

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DAKT

Daktronics shares are trading lower after the company reported worse-than-expected Q4 financial results. Also, the company announced that Mr. Kurtenbach is stepping down from his roles as President, CEO and Chairman of the Co's Board of Directors.

Daktronics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) shares are trading lower following<a target="_blank" href="https://www.benzinga.com/pressreleases/25/03/g44141292/daktronics-inc-announces-2025-fiscal-third-quarter-results-leadership-transition" rel="noreferrer noopener"> third-quarter FY25 results</a>.
Sales fell 12.2% year over year to&nbsp;$149.5&nbsp;million, missing the consensus of&nbsp;$170.6 million due to comparatively lower volumes in the Live Events and Transportation business units.
Orders fell&nbsp;2.7%&nbsp;Y/Y due to lower orders in the Live Events, High School Park and Recreation, and Transportation business units.
The product order backlog was&nbsp;$273.2&nbsp;million&nbsp;as of January&nbsp;25, 2025. Product and service orders for the quarter totaled&nbsp;$186.9&nbsp;million, down&nbsp;2.7%&nbsp;Y/Y.
Gross margin rose slightly to&nbsp;24.6%&nbsp;from&nbsp;24.5%&nbsp;a year ago. Operating loss stood at&nbsp;$3.6&nbsp;million&nbsp;vs.&nbsp;operating income of $8.0 million&nbsp;a year ago quarter, while adjusted operating income stood at $1.2 million.
Net loss stood at&nbsp;$17.2&nbsp;million&nbsp;in the quarter, while adjusted net income was&nbsp;$0.5&nbsp;million. Adjusted EPS of&nbsp;$0.01 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missed the consensus of&nbsp;$0.08.</a>
As of January&nbsp;25, cash and marketable securities stood at&nbsp;$132.2&nbsp;million. In the first nine months of fiscal 2025, Daktronics generated&nbsp;$74.8 million&nbsp;of cash from operations.
Leadership Transition: Daktronics announced Reece Kurtenbach stepped down as President, CEO, and Chairman of the Board, effective at the close of business on March 5, 2025.
Executive VP Brad Wiemann has been named interim president and CEO, while Howard Atkins has taken over as acting CFO and Chief Transformation Officer.
This transition allows Sheila Anderson to focus on her role as Chief Data and Analytics Officer, which she assumed in October 2024, while the company continues to search for a permanent CFO.
The company&#8217;s Board has also appointed Andrew Siegel, currently its lead independent director, to serve as the new independent Chair of the Board.
Outlook: The company noted that the recent U.S. government actions, including tariff policies and shifts in federal funding priorities, may impact near-term <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">business conditions and order timelines</a>.
The company says delays in U.S.-based project bookings have been observed across markets, and corporate governance and business transformation costs are expected to remain high in the fourth fiscal quarter.
Sheila Anderson, CFO and Chief Data and Analytics Officer, said, &#8220;The transformation, built upon our market leadership position, our technical and strengthening operating financial profile, and our capable employees, was designed and structured to support our ambitious targets to grow revenue faster than our addressable market, currently estimated in the 7-10 percent range, expand operating margins of a sustainable 10-12 percent, and achieve 17-20 percent return on capital by fiscal 2028.&#8221;
Investors can gain exposure to the stock via&nbsp;Invesco Dorsey Wright SmallCap Momentum ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWAS#NASDAQ">DWAS</a>) and&nbsp;First Trust Active Factor Small Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFSM#NYSE">AFSM</a>).
Price Action: DAKT shares are down 18.67% at $11.65 at the last check Wednesday.
Photo via Shutterstock.
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Daktronics Reports Q3 Loss, Leadership Changes Amid Falling Sales And Orders

Leadership Transition Today, Daktronics also announced that Mr. Kurtenbach is stepping down from his roles as President, CEO and Chairman of the Company's Board of Directors (the "Board"), effective at close of business on March 5, 2025. Mr. Kurtenbach will remain involved with the business in an advisory role supporting Daktronics' digital transformation plan. The Board will engage a nationally recognized executive search firm to help identify a permanent Chief Executive Officer. While this process continues, the Board has appointed Brad Wiemann, the Company's Executive Vice President, as Interim President and CEO. Mr. Wiemann has been with Daktronics since 1993. He has served in a variety of roles at the Company across manufacturing, engineering, product development and other functions. In his current role, he oversees the Company's Commercial and High Schools &amp; Parks and Recreation business units. He has played a key role in standardizing products to simplify engineering and manufacturing for outdoor products, such as billboards and message centers, as well as developing Daktronics' sales and service channels.
To further accelerate the Company's transformation, Daktronics Board member and former CFO of Wells Fargo, Howard Atkins, has been appointed Acting CFO and Chief Transformation Officer, effective at close of business today, March 5, 2025. This transition allows Sheila Anderson to focus on her role as Chief Data and Analytics Officer, a position she assumed in October 2024, while the Company's search for a permanent CFO proceeds.
The Board has also appointed Andrew Siegel, currently the Company's lead independent director, to serve as the new independent Chair of the Board. Mr. Siegel is an accomplished investor and sports, media and technology executive.
These appointments support the Board-led business transformation intended to position the Company for its next phase of innovation, commercial growth and global market expansion.

Daktronics Announces That Mr. Kurtenbach Is Stepping Down From His Roles As President, CEO And Chairman Of The Co's Board Of Directors; Brad Wiemann, The Co's Executive Vice President, Appointed As Interim President And CEO; Howard Atkins, Has Been Appointed Acting CFO; Andrew Siegel, Currently The Company's Lead Independent Director, To Serve As The New Independent Chair Of The Board

Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) reported quarterly losses of $(0.36) per share which missed the analyst consensus estimate of $0.05 by 820 percent. This is a 500 percent decrease over earnings of $0.09 per share from the same period last year. The company reported quarterly sales of $149.507 million which missed the analyst consensus estimate of $170.597 million by 12.36 percent. This is a 12.21 percent decrease over sales of $170.303 million the same period last year.

Earnings Misses

Daktronics Q3 2025 GAAP EPS $(0.36) Misses $0.05 Estimate, Sales $149.507M Miss $170.597M Estimate

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Earnings Scheduled For March 5, 2025

Daktronics, Alta Fox Sign Corporate Agreement; Daktronics Names Alta Fox-Recommended Candidate Peter Feigin To Board

Daktronics Shareholder Alta Fox Capital Says It Remains Convinced That Company Is Meaningfully Undervalued; Says Company's Claims Are Misleading

Alta Fox Capital Management, LLC is a shareholder of Daktronics with beneficial ownership interest on a fully converted basis of 11.7% of the Company's outstanding shares.

Legal

Daktronics Shareholder Alta Fox Capital Management Files Lawsuit Against Company And Chairman, President And CEO Reece A. Kurtenbach In US District Court

Craig-Hallum analyst Aaron Spychalla initiates coverage on Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) with a Buy rating and announces Price Target of $26.

Price Target

Initiation

Analyst Ratings

Craig-Hallum Initiates Coverage On Daktronics with Buy Rating, Announces Price Target of $26

General

Daktronics And Cree LEDEnter Multi-Year Global Patent License Agreement, Effective Dec. 2024

A substantial insider activity was disclosed on December 13, as Kurtenbach, Chairman at Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>), reported the exercise of a large sell of company stock options.
What Happened: In an insider options sale disclosed in a Form 4 filing on Friday with the <a href="https://www.sec.gov/Archives/edgar/data/0000915779/000091577924000156//Archives/edgar/data/915779/000091577924000156/0000915779-24-000156-index.htm">U.S. Securities and Exchange Commission</a>, Kurtenbach, Chairman at Daktronics, exercised stock options for 15,000 shares of DAKT. The transaction value amounted to $134,100.
During Friday's morning session, Daktronics shares up by 2.17%, currently priced at $17.45. Considering the current price, Kurtenbach's 15,000 shares have a total value of $134,100.
<h3>Get to Know Daktronics Better</h3>
Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.
<h3>Unraveling the Financial Story of Daktronics</h3>
Positive Revenue Trend: Examining Daktronics's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 4.5% as of 31 October, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 26.81%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Daktronics's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.46.
</li>
</ul>
Debt Management: Daktronics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.25.
Analyzing Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: Daktronics's P/E ratio of 27.11 is below the industry average, suggesting the stock may be undervalued.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 0.98, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio of 6.75 trails industry averages, indicating a potential disparity in market valuation that could be advantageous for investors.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
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<h3>The Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Exploring Key Transaction Codes</h3>
Digging into the details of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000915779">Check Out The Full List Of Daktronics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Trading Ideas

Chairman At Daktronics Exercises Options Worth $134K

Alta Fox says, "Instead of responding to the governance concerns raised by its largest shareholder, Daktronics has tried to paint Alta Fox as a bloodthirsty creditor, somehow misaligned with Daktronics' equity investors."

Alta Fox Clarifies Its Stance On Its Convertible Promissory Note; Reiterates Belief That Daktronics Can Achieve ~$40 Per Share And ~100% Upside

Daktronics Responds To Alta Fox's Demands On Convertible Debt Repayment, Rejects Proposal As Costly To Shareholders; Highlights Record FY24 Performance And Stock Price Surpassing Alta Fox's Target

Alta Fox Capital Management has beneficial ownership interest on a fully converted basis of 11.7% of Daktronics' outstanding shares.

Alta Fox Plans To Nominate Independent Director Candidates For Election To Daktronics Board

Daktronics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) shares are trading higher <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42312097/daktronics-inc-announces-2025-fiscal-second-quarter-results" rel="noreferrer noopener">following&nbsp;second-quarter&nbsp;results</a>.
Sales rose&nbsp;4.5%&nbsp;year over year to&nbsp;$208.33 million, beating the consensus of $202.59 million, led by comparatively higher volumes in the Commercial, Live Events and, Transportation business units.&nbsp;
Orders fell 3.3% due to lower orders in the Live Events, Transportation, and International business units.
The product order backlog was $236.0 million as of October 26, 2024. Product and service orders for the quarter totaled $177.6 million, down 3.3% decrease year over year.
Gross margin decreased slightly to 26.8% from 27.2% a year ago due to a change in the sales mix between periods.
Operating income stood at $15.8 million vs. $19.4 million a year ago quarter. Net income stood at $21.4 million in the quarter, while adjusted net income was&nbsp;$13.9 million. Adjusted EPS of $0.27 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus of $0.20.</a>
As of October&nbsp;26, cash and marketable securities stood at&nbsp;$134.4&nbsp;million.
Daktronics enters the third quarter of fiscal 2025 with a 3.3% year-over-year growth in orders and expects order volume <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">to continue increasing for the full fiscal year</a>.
The first half of the fiscal year typically sees the highest sales volume, and the company anticipates normal &#8220;seasonal&#8221; levels for the remainder of fiscal 2025.
CFO Search: As announced on October 21, 2024, Daktronics&#8217; Board of Directors has initiated a search <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41427408/daktronics-inc-announces-next-steps-in-ongoing-business-transformation-plan" rel="noreferrer noopener">for a new Chief Financial Officer</a>.
Reece Kurtenbach, Daktronicsʹ Chairman, President and Chief Executive Officer, said, &#8220;We completed innovative and visually striking installations at the L.A. Clippers&#8217; Intuit Dome, the Miami HEAT&#8217;s Kaseya Center that have both drawn attention in trade and social media. We also served other customers with the completion and update to the latest digital technologies at numerous college and high school sporting facilities and commercial locations.&#8221;
&#8220;We continue to execute on our business transformation plan, the goal of which is to grow revenue faster than the Company&#8217;s addressable market, expand operating margins, and generate returns on capital in the mid-to-high-teens and consistently above the Company&#8217;s cost of capital.&#8221;
Investors can gain exposure to the stock via&nbsp;SPDR FactSet Innovative Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XITK#NYSE">XITK</a>) and First Trust Active Factor Small Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFSM#NYSE">AFSM</a>).
Price Action: DAKT shares are up 15.4% at $18.85 at the last check Wednesday.
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XITK

Daktronics Rallies As Q2 Earnings Beat Estimates, Big Installs Shine Bright

Daktronics shares are trading higher after the company reported better-than-expected Q2 sales results. Also, the company announced a product order backlog worth 236 million and expects order volume to increase for the full fiscal year.

Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) released its Q2 earnings on Wednesday, December 4, 2024 at 07:30 AM.
Here's what's important from the earnings announcement.
<h3>Earnings</h3>
Daktronics beat estimated earnings by 35.0%, reporting an EPS of $0.27 versus an estimate of $0.2.
Revenue was up $8.96 million from the same period last year.
<h3>Historical Earnings Summary</h3>
In the previous quarter, the company beat on EPS by $0.08, resulting in a 5.0% drop change in the share price the following day.
Here's a look at Daktronics's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.28</td>
<td>0.15</td>
<td>0.17</td>
<td>0.13</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.36</td>
<td>0.27</td>
<td>0.09</td>
<td>0.27</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>229.07M</td>
<td>186.19M</td>
<td>199.80M</td>
<td>213.70M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>226.09M</td>
<td>215.88M</td>
<td>170.30M</td>
<td>199.37M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Daktronics <a href="https://www.benzinga.com/quote/DAKT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Daktronics Earnings Review: Q2 Summary

Daktronics enters the third quarter of fiscal 2025 with order growth of 3.3 percent year-over-year, and continues to expect order volume to increase for the full fiscal year. The first half of the fiscal year is typically the highest-volume sales of the year, and are expected to be at normal "seasonal" levels for the remainder of fiscal 2025. Management continues to refine and execute its digital and strategic transformation initiatives and will continue to make disciplined investments through the rest of the fiscal year to strengthen Daktronics' business foundation for future profitability and sustainable returns.

Daktronics Continues To Expect Order Volume To Increase For The Full Fiscal Year

Daktronics Q2 Product Order Backlog $236.0M As Of October 26, 2024

Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) reported quarterly sales of $208.30 million which beat the analyst consensus estimate of $202.59 million by 2.82 percent. This is a 4.48 percent increase over sales of $199.37 million the same period last year.

Earnings Beats

Daktronics Q2 Sales $208.30M Beat $202.59M Estimate

Press Releases

Alta Fox Corrects Daktronics' Misleading and Nonsensical Version of Events

Daktronics, Inc. to Release Third Quarter Fiscal 2025 Financial Results

Daktronics and Alta Fox Enter into Cooperation Agreement

Daktronics, Inc. Announces 2025 Fiscal Third Quarter Results & Leadership Transition

Securities Fraud Investigation Into Daktronics, Inc. (DAKT) Announced – Investors Who Lost Money Urged to Contact The Law Offices of Frank R. Cruz

Kirby McInerney LLP Announces Investigation Against Daktronics, Inc. (DAKT) on Behalf of Investors

Daktronics, Inc. (DAKT) Investors Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation

Securities Fraud Investigation Into Daktronics, Inc. (DAKT) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Daktronics, Inc. - DAKT

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