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.

Earnings data Q4 2021

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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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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:

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

CHICAGO, May 02, 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 virtually at the Oppenheimer 18th Annual Industrial Growth Conference on Tuesday, May 9 at 11.15 a.m. EDT.

Methode Electronics to Present at the Oppenheimer 18th Annual Industrial Growth Conference

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CHICAGO, April 20, 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 press release on April 19, 2023 declaring its public tender offer for all the outstanding shares in Nordic Lights Group Corporation unconditional, it has today settled the consideration due to tendering shareholders and acquired 80.7 percent of the share capital of Nordic Lights. Methode intends to acquire all of the outstanding shares of Nordic Lights and apply for its delisting from Nasdaq First North Growth Market Finland.

Methode Completes Tender Offer for Shares of Nordic Lights Group Corporation

CHICAGO, April 19, 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 press release on April 17, 2023, regarding the preliminary results of its public tender offer for all the outstanding shares of Nordic Lights Group Corporation, the final results confirm that:

Methode Announces Final Results of Tender Offer for Shares of Nordic Lights Group Corporation and Declares it Unconditional

CHICAGO, April 17, 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, following the launch of its public tender offer for all the outstanding shares of Nordic Lights Group Corporation on March 15, 2023 (as previously announced on February 28, 2023), the offer period has expired as of April 14, 2023, and the preliminary results of the offer are:

Methode Announces Preliminary Results of Tender Offer for Shares of Nordic Lights Group Corporation

CHICAGO, March 15, 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 Conference on Wednesday, March 22nd at 10:00 a.m. EDT.

Methode Electronics to Present at the Sidoti Small-Cap Conference

Methode Electronics, Inc. (NYSE:MEI ) Q3 2023 Earnings Conference Call March 9, 2023 11:00 AM ET Company Participants Robert Cherry - Vice President of Investor Relations Donald Duda - Director, President & Chief Executive Officer Ronald Tsoumas - Chief Financial Officer Conference Call Participants John Franzreb - Sidoti & Company Gavin Kennedy - Jefferies Gary Prestopino - Barrington Research Operator Good day everyone and welcome to the Methode Electronics Third Quarter Fiscal 2023 Results. At this time, all participants have been placed on a listen-only mode and we will open the floor for your questions and comments after the presentation.

Methode Electronics, Inc. (MEI) Q3 2023 Earnings Call Transcript

Methode (MEI) delivered earnings and revenue surprises of -20.59% and 1.55%, respectively, for the quarter ended January 2023. Do the numbers hold clues to what lies ahead for the stock?

Methode (MEI) Misses Q3 Earnings and Revenue Estimates

CHICAGO, March 09, 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 third quarter of fiscal 2023 ended January 28, 2023.

Methode Electronics, Inc. Reports Fiscal Third Quarter 2023 Financial Results

CHICAGO, Feb. 28, 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 it has entered into a definitive agreement pursuant to which it will launch a recommended public tender offer for all of the outstanding shares of Nordic Lights Group Corporation (“Nordic Lights”), at an offer price of EUR 6.30 per share, for a total equity value of approximately EUR 132 million. Nordic Lights is a premium provider of high-quality lighting solutions for heavy-duty equipment and a public limited liability company incorporated in Finland with its shares admitted to trading on Nasdaq First North.

Methode Electronics Announces a Cash Offer to Acquire Nordic Lights Group Corporation

CHICAGO, Feb. 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 third quarter fiscal 2023 results for the period ended January 28, 2023, on Thursday, March 9, 2023, before the market opens.

Methode Electronics to Announce Third Quarter Fiscal 2023 Results on Thursday, March 9, 2023

CHICAGO, Jan. 04, 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 25th Annual Needham Growth Conference on Wednesday, January 11th at 8:00 a.m. EST.

Methode Electronics to Present at the 25th Annual Needham Growth Conference

Methode Electronics, Inc. (NYSE:MEI ) Q2 2023 Earnings Conference Call December 1, 2022 11:00 AM ET Company Participants Robert Cherry - Vice President of Investor Relations Don Duda - President and Chief Executive Officer Ron Tsoumas - Chief Financial Officer Conference Call Participants Luke Junk - Baird John Franzreb - Sidoti & Company David Kelley - Jefferies Gary Prestopino - Barrington Research Operator Hello, ladies and gentlemen, and welcome to the Methode Electronics Second Quarter Fiscal Year 2023 Results Call. At this time, all participants are placed on a listen-only mode, and the floor will be opened for questions and comments after the presentation.

Methode Electronics, Inc. (MEI) Q2 2023 Earnings Call Transcript

Methode (MEI) delivered earnings and revenue surprises of 15.38% and 7.08%, respectively, for the quarter ended October 2022. Do the numbers hold clues to what lies ahead for the stock?

Methode (MEI) Q2 Earnings and Revenues Top Estimates

CHICAGO, Dec. 01, 2022 (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 2023 ended October 29, 2022.

News for Methode Electronics Stock (MEI)