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.

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Methode Electronics has a large and diversified customer base, but I believe its exposure to a weak automotive industry has led to a 70% decline in its stock price. The slowdown in manufacturing activity and global supply shocks have also contributed to the decline in revenue for Methode Electronics. Continued success in EV and data center programs represents a major revenue opportunity for Methode Electronics.

Methode Electronics: Poised To Find The Light In An Improving Automotive Sector

Kevin Nystrom Appointed Interim Chief Executive Officer Mark Schwabero Appointed Vice Chairman of the Board CHICAGO, May 06, 2024 (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 Kevin Nystrom, a partner and managing director at AlixPartners LLP, has been appointed interim CEO, effective immediately. The company has previously disclosed its ongoing engagement with AlixPartners for various consulting services, including cost reduction and financial advisory.

Methode Electronics Announces CEO Transition

CHICAGO, April 08, 2024 (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 Ronald L. G. Tsoumas, Chief Financial Officer (CFO), is retiring from the company effective July 12, 2024, following the filing of Methode's fiscal 2024 annual report. The company has begun a search process with the assistance of a leading executive search firm to identify Mr. Tsoumas' permanent successor.

Methode Electronics Announces CFO Transition Plan

NEW YORK , March 27, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors 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 Behalf of Investors of Methode Electronics Inc. - MEI

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NEW YORK, NY / ACCESSWIRE / March 19, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Methode Electronics, Inc. ("Methode Electronics") (NYSE:MEI) concerning possible violations of federal securities laws. On December 7, 2023, Methode disclosed that its Chief Operating Officer, Joseph Khoury had been terminated as an employee of the Company's Egyptian subsidiary and is no longer associated with the Company, stating that "the Company has eliminated the position of Chief Operating Officer for the present time.

Methode Electronics, Inc. (MEI) Investors with Losses are Urged to Contact Levi & Korsinsky to Discuss Their Rights

Methode Electronics, Inc. Investigation Ongoing: Contact Levi & Korsinsky About Potential Securities Fraud Allegations - MEI

NEW YORK, NY / ACCESSWIRE / March 17, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Methode Electronics, Inc. ("Methode Electronics") (NYSE:MEI) concerning possible violations of federal securities laws. On December 7, 2023, Methode disclosed that its Chief Operating Officer, Joseph Khoury had been terminated as an employee of the Company's Egyptian subsidiary and is no longer associated with the Company, stating that "the Company has eliminated the position of Chief Operating Officer for the present time.

MEI ALERT: Levi & Korsinsky Reminds Investors of an Investigation Involving Possible Securities Fraud Violations by Methode Electronics, Inc.

NEW YORK, NY / ACCESSWIRE / March 15, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Methode Electronics, Inc. ("Methode Electronics") (NYSE:MEI) concerning possible violations of federal securities laws. On December 7, 2023, Methode disclosed that its Chief Operating Officer, Joseph Khoury had been terminated as an employee of the Company's Egyptian subsidiary and is no longer associated with the Company, stating that "the Company has eliminated the position of Chief Operating Officer for the present time.

ATTENTION MEI SHAREHOLDERS: Investors Who Lost Money on Methode Electronics, Inc. Are Urged to Contact Levi & Korsinsky About an Ongoing Investigation

NEW YORK, NY / ACCESSWIRE / March 14, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Methode Electronics, Inc. ("Methode Electronics") (NYSE:MEI) concerning possible violations of federal securities laws. On December 7, 2023, Methode disclosed that its Chief Operating Officer, Joseph Khoury had been terminated as an employee of the Company's Egyptian subsidiary and is no longer associated with the Company, stating that "the Company has eliminated the position of Chief Operating Officer for the present time.

MEI STOCK ALERT: Levi & Korsinsky Notifies Methode Electronics, Inc. Investors of an Ongoing Investigation

SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson Fistel, LLP is investigating whether Methode Electronics, Inc. (“Methode” or the “Company”) (NYSE: MEI) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws. What if I purchased Methode securities? If you bought secu.

Methode Electronics Alert: Johnson Fistel Has Commenced a Class Action Investigation

Methode Electronics, Inc. (NYSE:MEI ) Q3 2024 Earnings Conference Call March 7, 2024 11:00 AM ET Company Participants Robert Cherry - Vice President, Investor Relations Avi Avula - President and Chief Executive Officer Ron Tsoumas - Chief Financial Officer Conference Call Participants Luke Junk - Robert W. Baird Gary Prestopino - Barrington Research John Franzreb - Sidoti & Company Operator Greetings.

Methode Electronics, Inc. (MEI) Q3 2024 Earnings Call Transcript

CHICAGO, March 07, 2024 (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 third quarter of fiscal 2024 ended January 27, 2024.

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

Revenues decreased by 8.83% in Q2 2024 despite the contribution of the recently acquired Nordic Lights as the industries in which the company operates are suffering disruptions. Profit margins are under pressure due to inflationary pressures, increased freight and labor costs, and weakening volumes. Interest expenses are increasing fast caused by higher debt exposure and rates.

Methode Electronics: A Higher-Than-Usual Dividend Yield Represents A Good Opportunity

CHICAGO, Feb. 22, 2024 (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 third quarter fiscal 2024 results for the period ended January 27, 2024, on Thursday, March 7, 2024, before the market opens.

Methode Electronics to Announce Third Quarter Fiscal 2024 Results on Thursday, March 7, 2024

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Methode Electronics, Inc. (“Methode” or the “Company”) (NYSE: MEI) investors concerning the Company's possible violations of the federal securities laws. If you suffered a loss on your Methode investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securitie.

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Methode Electronics, Inc. (MEI) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Methode Electronics, Inc. (“Methode” or the “Company”) (NYSE: MEI) on behalf of investors concerning the Company's possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On July 14, 2023, Methode announced that its Chief Operating Officer, Joseph Khoury, had been placed on leave and that his “powers, authority and duties . . . were suspen.

The Law Offices of Frank R. Cruz Announces Investigation of Methode Electronics, Inc. (MEI) on Behalf of Investors

NEW YORK--(BUSINESS WIRE)-- #A--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Methode Electronics Inc. (“Methode” or the “Company”) (NYSE: MEI) on behalf of Methode stockholders. Our investigation concerns whether Methode has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On July 14, 2023, Methode announced that “[o]n July 10, 2023, Jos.

METHODE ALERT: Bragar Eagel & Squire, P.C. is Investigating Methode Electronics Inc. on Behalf of Methode Stockholders and Encourages Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Methode Electronics, Inc. (NYSE: MEI) resulting from allegations that Methode may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Methode securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangeme.

ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Methode Electronics, Inc. Investors to Inquire About Securities Class Action Investigation – MEI

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.

News for Methode Electronics Stock (MEI)