Methode Electronics

Methode Electronics, Inc. engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers. The Interface segment provides a variety of copper and fiber-optic interface and interface solutions for the aerospace, appliance, commercial food service, construction, consumer, material handling, medical, military, mining, point-of-sale, and telecommunications markets. The Industrial segment manufactures external lighting solutions, industrial safety radio remote controls, braided flexible cables, current-carrying laminated busbars, and devices. The Medical segment refers to the medical device business. The company was founded by William Joseph McGinley in 1946 and is headquartered in Chicago, IL.

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MEI reports record sales in fiscal 2023, anticipates growth in EV market

MEI achieved record sales in fiscal 2023, particularly in the EV market, but faced challenges with declining profitability. The company's outlook for fiscal 2025 shows potential for significant organic growth, presenting opportunities for future expansion.

Methode Electronics faces operational challenges but secures significant EV programs

Methode Electronics faced operational challenges impacting earnings, leading to a decrease in full-year sales guidance. However, the company secured significant EV programs and remains confident in addressing operational issues. The decision to discontinue the Dabir business reflects a strategic move to address scalability and expense issues.

Methode Electronics reports resilient Q3 sales growth and strategic investments

Methode Electronics demonstrated resilience with sales growth despite challenges, driven by the Industrial segment and EV market focus.
Maintained financial strength with increased free cash flow, decreased debt, and revised revenue guidance upwards.
Facing challenges in data centers and commercial vehicles, but pursuing opportunities in EVs and LED lighting solutions.
Strategic investments and commitment to organic growth targets position the company for sustainable performance.
Client takeaway: Methode Electronics shows promise in navigating challenges and leveraging opportunities for future growth.

Methode Electronics reports record sales and strong EV focus

Methode Electronics delivered solid financial performance with a focus on EV programs and cash flow generation. Despite challenges from cost increases and debt due to acquisitions, the company is strategically positioned for growth with a strong sales outlook and opportunities in key markets.

Methode Electronics faces Q1 challenges, eyes EV growth opportunities

Methode Electronics faced operational challenges impacting earnings and revised full-year guidance downward. The company is strategically focusing on EV and sensors, discontinuing non-scalable businesses. Despite challenges, there are opportunities for growth in electric vehicle programs.

Methode Electronics navigates challenges, focuses on EV programs for growth

Methode Electronics faced sales challenges in Q2 due to various factors impacting earnings. Despite operational inefficiencies and debt increase, the company is focusing on EV programs and operational improvements for future growth and positive cash flow in fiscal '25.

Methode Electronics reports Q3 loss, focuses on restoring profitability

Methode Electronics faced a challenging quarter with declining sales, operational inefficiencies, and a net loss. The company is focused on restoring profitability through cost reduction and operational effectiveness. Avi Avula's leadership priorities aim to build a sustainable future for Methode based on its current foundation.

Methode Electronics reports Q4 loss, eyes EV growth and cost efficiency

Methode Electronics faced challenges in Q4 2024 with a sales decline and operational inefficiencies, leading to a net loss, but maintained a strong cash position and reduced net debt.
The company's focus on profitability improvement, cost reduction, and debt reduction for fiscal 2025, along with positive guidance for fiscal '26, signals a strategic turnaround effort.
Despite near-term hurdles, Methode Electronics is poised for growth with opportunities in the EV market, ongoing cost-saving initiatives, and a commitment to financial stability.

Methode Electronics reports Q1 loss, eyes growth through program launches

Methode Electronics navigated challenges in Q1 2025 with a focus on program launches and EV sales growth.
Despite headwinds in key markets, the company remains optimistic about achieving profitability in fiscal 2026.
Addressing inventory issues and optimizing operations are key priorities for sustaining growth and improving financial performance.

Methode Electronics reports robust Q2 earnings amidst market challenges

Methode Electronics delivered strong Q2 results driven by Power Products and cost efficiencies.
Despite challenges in the commercial vehicle market and a subpoena from the SEC, the company remains committed to growth and transparency.
Opportunities lie in expanding EV sales, managing debt covenants, and executing program launches for future profitability.

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Seasoned Electronics Industry Leader Brings More than 20 Years of Experience Driving Transformational Growth and Value Creation Initiatives to Methode Seasoned Electronics Industry Leader Brings More than 20 Years of Experience Driving Transformational Growth and Value Creation Initiatives to Methode

Methode Electronics Appoints Avi Avula as New CEO

NEW YORK , Dec. 18, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of Methode Electronics Inc. ("Methode" or the "Company") (NYSE: MEI).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Methode Electronics Inc. - MEI

Methode Electronics, Inc. (NYSE:MEI ) Q2 2024 Earnings Conference Call December 7, 2023 11:00 AM ET Company Participants Robert Cherry - Vice President, Investor Relations Don Duda - President and Chief Executive Officer Ron Tsoumas - Chief Financial Officer Conference Call Participants Luke Junk - Baird Gary Prestopino - Barrington Research Operator Greetings and welcome to the Methode Electronics Second Quarter Fiscal 2024 Results Call. [Operator Instructions] Please note this conference is being recorded.

Methode Electronics, Inc. (MEI) Q2 2024 Earnings Call Transcript

Methode Electronics (NYSE: MEI ) just reported results for the second quarter of 2024. Methode Electronics reported earnings per share of 6 cents.

MEI Stock Earnings: Methode Electronics Misses EPS, Misses Revenue for Q2 2024

CHICAGO, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the second quarter of fiscal 2024 ended October 28, 2023.

Methode Electronics, Inc. Reports Fiscal 2024 Second Quarter Financial Results

CHICAGO, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2024 results for the period ended October 28, 2023, on Thursday, December 7, 2023, before the market opens.

Methode Electronics to Announce Second Quarter Fiscal 2024 Results on Thursday, December 7, 2023

CHICAGO, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, will present at the Sidoti Small-Cap Virtual Conference on Thursday, September 21 at 2:30 p.m. EDT.

Methode Electronics to Present at the Sidoti Small-Cap Virtual Conference

Methode Electronics, Inc. (NYSE:MEI ) Q1 2024 Earnings Conference Call September 7, 2023 11:00 AM ET Company Participants Robert Cherry - Vice President, Investor Relations Don Duda - President and Chief Executive Officer Ron Tsoumas - Chief Financial Officer Conference Call Participants Luke Junk - Baird John Franzreb - Sidoti and Company Gary Prestopino - Barrington Research John Franzreb - Sidoti and Company Operator Greetings and welcome to the Methode Electronics First Quarter Fiscal 2024 Results Call. At this time, all participants are on a listen-only mode, and a question-and-answer session will follow the formal presentation.

Methode Electronics, Inc. (MEI) Q1 2024 Earnings Call Transcript

Methode Electronics badly missed earnings expectations in its latest quarter. Management blamed "operational inefficiencies" caused by labor and vendor issues, as well as accelerated program launch expenses.

Why Methode Electronics Stock Fell Hard Today

Methode (MEI) came out with quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.58 per share a year ago.

Methode (MEI) Q1 Earnings Miss Estimates

CHICAGO, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the first quarter of fiscal 2024 ended July 29, 2023.

Methode Electronics, Inc. Reports Fiscal 2024 First Quarter Financial Results

CHICAGO, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Donald W. Duda, President and Chief Executive Officer, will retire from Methode. He will continue to lead the company until a successor has been named and will work with the new CEO through a transition period, which is expected to conclude during fiscal 2025.

Methode Electronics Announces Planned CEO Retirement

CHICAGO, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its first quarter fiscal 2024 results for the period ended July 29, 2023, on Thursday, September 7, 2023, before the market opens.

Methode Electronics to Announce First Quarter Fiscal 2024 Results on Thursday, September 7, 2023

MEI reported Q4 FY23 net sales of $301.2 million, a 4.3% increase from Q4 FY22, largely due to increased sales in its industrial and interface segments. MEI's FY23 net sales were $1.1 billion, a 1.3% rise from FY22, but net income declined by 24.5% due to costs associated with the Nordic Lights acquisition and material and labor inflation. The company is currently overvalued and under selling pressure, with a hold rating assigned due to expected stagnant revenue growth.

Methode Electronics: Operating Margin Is Under Pressure

CHICAGO, July 17, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, released its fiscal 2023 CSR report outlining Methode's approach to environmental, social, and governance (ESG) initiatives.

Methode Electronics Releases Inaugural Corporate Social Responsibility (CSR) Report

CHICAGO, July 13, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, announced today the initiation of the discontinuation of the Dabir Surfaces, Inc. business.

Methode Electronics Initiates Discontinuation of Dabir Surfaces, Inc.

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Methode Electronics, Inc. (NYSE:MEI ) Q4 2023 Results Conference Call June 22, 2023 11:00 AM ET Company Participants Robert Cherry - VP, IR Don Duda - President and CEO Ron Tsoumas - CFO Conference Call Participants John Franzreb - Sidoti & Company Gary Prestopino - Barrington Research Matt Sheerin - Stifel Operator Greetings, and welcome to the Methode Electronics Fourth Quarter and Full Year Fiscal 2023 Results Call. At this time, all participants are in a listen-only mode and a question-and-answer session will follow the formal presentation.

Methode Electronics, Inc. (MEI) Q4 2023 Earnings Call Transcript

Methode (MEI) came out with quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.43 per share a year ago.

Methode (MEI) Q4 Earnings and Revenues Miss Estimates

CHICAGO, June 22, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the fourth quarter and full year of fiscal 2023 ended April 29, 2023.

Methode Electronics, Inc. Reports Fiscal 2023 Fourth Quarter and Full Year Financial Results

Methode Electronics is considered a solid investment due to its strong business model and presence in basic essential industries. Despite predictions of lower sales and earnings in FY '24, the company is expected to see significant increases in organic sales and earnings in FY '25. The recent dip in share price makes Methode Electronics an attractive opportunity for retail value investors confident in the American economy.

We Turn Bullish On Methode Electronics As The Price Dips

Fourth Quarter and Full Year Fiscal 2023 Results to be Announced on Thursday, June 22, 2023 Fourth Quarter and Full Year Fiscal 2023 Results to be Announced on Thursday, June 22, 2023

Methode Electronics, Inc. Announces Preliminary Financial Results for Fiscal 2023

CHICAGO, May 11, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced that, further to the news release on May 9, 2023, regarding the preliminary results of its subsequent offer for remaining outstanding shares of Nordic Lights Group Corporation, the final results confirm that:

Methode Announces Final Results of Subsequent Offer for Shares of Nordic Lights Group Corporation

CHICAGO, May 09, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced that, the subsequent offer period for its public tender offer for all the remaining outstanding shares of Nordic Lights Group Corporation, which commenced on April 24, 2023, has expired as of May 8, 2023, and the preliminary results are:

News for Methode Electronics Stock (MEI)