Methode Electronics, Inc. Reports Fiscal 2026 Fourth Quarter and Full Year Financial Results
Rhea-AI Summary
Methode Electronics (NYSE:MEI) reported fiscal 2026 Q4 and full-year results. Q4 net sales were $298.1 million, up 15.9% year-over-year, with net income of $0.4 million versus a prior-year loss. For 2026, net sales were $1,019.2 million (-2.8%), net loss $35.7 million, and Adjusted EBITDA $68.2 million (6.7% of sales), up 60.5%. Free cash flow was an inflow of $15.6 million versus an outflow in 2025. For fiscal 2027, Methode guides net sales of $1.025–$1.075 billion, Adjusted EBITDA of $72–$82 million, and capital expenditures of $25–$30 million, with free cash flow expected to be similar to 2026.
AI-generated analysis. Not financial advice.
Positive
- Q4 2026 net sales rose 15.9% year-over-year to $298.1 million
- Q4 2026 EBITDA was $33.3 million (11.2% margin) versus a prior-year loss
- Fiscal 2026 Adjusted EBITDA increased 60.5% to $68.2 million (6.7% margin)
- Fiscal 2026 free cash flow improved to a $15.6 million inflow from a $15.2 million outflow
- Net debt decreased to $185.4 million from $214.0 million year-over-year
- Fiscal 2027 guidance targets Adjusted EBITDA growth to $72–$82 million
Negative
- Fiscal 2026 net sales declined 2.8% year-over-year to $1,019.2 million
- Fiscal 2026 net loss was $35.7 million, or 3.5% of net sales
- Q4 2026 free cash flow was a $0.9 million outflow versus a $26.3 million inflow
- Income tax expense increased to $25.0 million from $12.5 million year-over-year
- Interface segment Q4 sales fell to $1.8 million from $11.6 million
- Total debt increased to $325.0 million from $317.6 million, mainly from FX
News Market Reaction – MEI
On the day this news was published, MEI gained 37.51%, reflecting a significant positive market reaction. Argus tracked a peak move of +46.4% during that session. Our momentum scanner triggered 55 alerts that day, indicating high trading interest and price volatility. This price movement added approximately $178M to the company's valuation, bringing the market cap to $652.91M at that time. Trading volume was very high at 4.3x the daily average, suggesting strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Peers on Argus
MEI was down about 3.9% with several key peers (LPTH, RELL, MPTI) also negative, while a couple (KULR, GAUZ) rose, indicating a mixed but generally weaker group tone consistent with MEI’s downside move.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 05 | Quarterly earnings | Negative | -11.8% | Q3 2026 loss, sales decline, and lowered full-year sales and EBITDA guidance. |
| Dec 03 | Quarterly earnings | Negative | -10.9% | Q2 2026 sales down double digits and net loss despite reaffirmed guidance. |
| Sep 09 | Quarterly earnings | Positive | +12.2% | Q1 2026 operational improvement, strong free cash flow and guidance affirmation. |
| Mar 05 | Quarterly earnings | Negative | -28.9% | Q3 2025 lower Automotive volume and wider net loss year over year. |
| Dec 05 | Quarterly earnings | Positive | +20.8% | Q2 2025 margin improvement, much smaller loss and raised pre-tax guidance. |
Earnings headlines have tended to move MEI in the same direction as the tone of results over the past five reports.
Historical Comparison
In the last five earnings releases, MEI’s average move was about -3.7%, with reactions consistently matching whether results and guidance skewed stronger or weaker.
Recent earnings show a shift from larger losses and reduced guidance toward improved EBITDA, positive free cash flow and more constructive forward expectations.
Regulatory & Risk Context
Short positioning appears relatively low, suggesting limited squeeze potential and generally more moderate volatility from short covering alone.
Market Pulse Summary
The stock surged +37.5% in the session following this news. A strong positive reaction aligns with MEI’s history of moving with earnings tone. Investors might focus on improved profitability, $68.2M Adjusted EBITDA and FY27 growth guidance, while low short interest limits squeeze-driven upside risk.
Key Terms
adjusted ebitda financial
free cash flow financial
non-gaap financial measure financial
AI-generated analysis. Not financial advice.
Transformation progress drives improved profitability and positions the Company for continued growth in fiscal 2027
Fiscal Fourth Quarter 2026 Highlights
- Net sales of
$298.1 million , up15.9% year-over-year, including$22.5 million of customer recoveries realized during the quarter - Net income of
$0.4 million or0.1% of net sales, compared to a net loss of$28.3 million in prior year period - Adjusted EBITDA of
$26.9 million compared to Adjusted EBITDA loss of$7.1 million in prior year period
Fiscal Year 2026 Highlights (52-week fiscal year 2026 compared to 53-week fiscal year 2025)
- Net sales of
$1,019.2 million , down2.8% year-over-year - Net loss of
$35.7 million or3.5% of net sales, compared to a net loss of$62.6 million in fiscal 2025 - Adjusted EBITDA of
$68.2 million or6.7% of net sales, up60.5% year-over-year - Cash from operations totaled
$38.0 million , capital expenditures totaled$22.4 million , resulting in$15.6 million of free cash flow
Fiscal Year 2027 Outlook Highlights
- Net sales expected to be in the range of
$1.025 billion to$1.075 billion - Adjusted EBITDA expected to be in the range of
$72 million to$82 million - Capital expenditures expected to be in the range of
$25 million to$30 million - Free cash flow expected to remain generally consistent with fiscal 2026
SOUTHFIELD, Mich., June 24, 2026 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for power distribution, user interface, lighting, and sensor applications, today announced financial results for the fourth quarter and full year ended May 2, 2026.
“Fiscal 2026 marked a year of meaningful progress in Methode’s transformation as we continued to execute on the commitments we made to our employees, customers, and shareholders,” said Jon DeGaynor, President and Chief Executive Officer. “Despite a challenging operating environment, we improved profitability, generated positive free cash flow, strengthened our balance sheet, simplified our portfolio, and continued investing in our people and capabilities. The actions we have taken over the last two years to strengthen operational discipline, upgrade talent, and optimize our portfolio are delivering results and enhancing the company's long-term earnings power. We are also increasing our exposure to attractive growth opportunities in data centers, vehicle electrification, and other power solutions markets where our engineering expertise provides a meaningful competitive advantage.
Mr. DeGaynor continued, “As we enter fiscal 2027, our priorities remain clear: deliver for our customers, continue improving operational performance, maintain disciplined capital allocation, and create long-term shareholder value. We believe Methode enters the year with a more focused portfolio, a stronger operating model, deeper customer relationships, and growing participation in attractive industrial growth markets, including data center power infrastructure. As a result, we are increasingly well positioned to drive sustainable profitable growth, margin expansion, and cash generation over the long term.”
Consolidated Fiscal Fourth Quarter 2026 Financial Results
Methode's net sales were
Gross profit was
Income from operations was
Income tax expense was
Net income was
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization of Intangibles), a non-GAAP financial measure, was
Net cash provided by operating activities was
Segment Fiscal Fourth Quarter 2026 Financial Results
Comparing the Automotive segment’s quarter to the same quarter of fiscal 2025:
- Net sales were
$144.9 million , up from$112.9 million . Net sales increased$32.0 million or28.3% largely due to customer recoveries. Foreign exchange increased net sales by$5.2 million . - Income from operations was
$6.0 million , or4.1% of Automotive segment net sales, compared to a loss of$33.7 million in the prior year. The increase in income from operations was primarily due to customer recoveries and improved operating performance.
Comparing the Industrial segment’s quarter to the same quarter of fiscal 2025:
- Net sales were
$151.4 million , up from$132.6 million . Net sales increased$18.8 million or14.2% , due to higher sales volumes for lighting products for off-road equipment markets and power products, partially offset by lower sales volumes for lighting products for commercial vehicles. Foreign currency translation increased net sales by$6.1 million . - Income from operations was
$33.6 million , or22.2% of Industrial segment net sales, compared to$26.2 million . The increase was primarily due to higher sales volumes and mix, improved operating performance, and foreign exchange.
Comparing the Interface segment’s quarter to the same quarter of fiscal 2025:
- Net sales were
$1.8 million , down from$11.6 million . The decrease was primarily due to lower sales volumes of touch panels for appliances following the completion of a major customer program, as well as the sale of the dataMate business during the fourth quarter of fiscal 2026. - Loss from operations was
$0.4 million , or22.2% of Interface segment net sales, compared to income from operations of$1.5 million .
The decrease was primarily due to lower sales volumes and product mix.
Consolidated Fiscal 2026 Financial Results
Net sales in fiscal 2026 were
Gross profit was
Income from operations was
Income tax expense was
Net loss was
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization of Intangibles), a non-GAAP financial measure, was
Debt totaled
Net cash provided by operating activities was
Guidance
Methode enters fiscal 2027 from a position of increasing strength. As the Company builds on a stronger operating foundation, management expects profitable growth in fiscal 2027, with profitability improving at a faster rate than revenue as operational improvements, cost actions, and business mix benefits continue to take hold. The Company's fiscal 2027 guidance reflects its current expectations based on available market information, including third-party industry forecasts, customer demand projections, current U.S. tariff policies, and bank forecast currency.
For fiscal 2027, the Company expects net sales to be in the range of
| Fiscal 2027 | $ Millions |
| Net sales | |
| Interest expense | |
| Tax expense | |
| D&A | |
| Adjusted EBITDA | |
| Capital expenditures |
Adjusted EBITDA is a non-GAAP financial measure. In reliance on the safe harbor provided under Section 10(e) of Regulation S-K, the company has not quantitatively reconciled from net income/loss (the most comparable GAAP measure) to Adjusted EBITDA presented in the fiscal 2027 guidance as the company is unable to quantify certain amounts included in net income due to the inherent uncertainty regarding such variables which may be significant.
Conference Call
The company will conduct a conference call and webcast tomorrow, June 25, 2026, at 11:00 a.m. Eastern Time to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik.
To participate in the conference call, please dial 888-506-0062 (domestic) or 973-528-0011 (international) and provide participant code 316055, at least ten minutes prior to the start of the event. A simultaneous webcast can be accessed through the company’s website, www.methode.com, on the Investors page.
A webcast replay will also be available on the company’s website, www.methode.com, on the Investors page.
About Methode Electronics, Inc.
Methode Electronics, Inc. (NYSE: MEI) is a leading global supplier of custom engineered solutions with sales, engineering, and manufacturing locations in North America, Europe, the Middle East and Asia. We design, engineer, and manufacture mechatronic products for OEMs and tiered suppliers across mobility, industrial, and commercial markets. Our capabilities include power distribution, including busbars, smart connect systems, battery disconnect units, and integrated circuit boards; as well as user interface components, specialized light-emitting diode (“LED”) lighting solutions, and sensor applications.
Our products are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus, and rail), cloud computing and data center infrastructure, and construction equipment. Our business is managed on a segment basis, with those segments being Automotive, Industrial, and Interface.
Non-GAAP Financial Measures
To supplement the company's financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Methode uses Adjusted Net Income (Loss), Adjusted Earnings (Loss) Per Diluted Share, Adjusted Pre-Tax Income (Loss), Adjusted Income (Loss) from Operations, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Net Debt and Free Cash Flow as non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. Methode's definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. The company believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view Methode's performance using the same tools that management uses to evaluate its past performance, reportable business segments and prospects for future performance, (iii) are commonly used by other companies in our industry and provide a comparison for investors to the company’s performance versus its competitors and (iv) otherwise provide supplemental information that may be useful to investors in evaluating Methode.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect, when made, our current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to our operations and business environment, which may cause our actual results to be materially different from any future results, expressed or implied, by such forward-looking statements. All statements that address future operating, financial or business performance or our strategies or expectations are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following:
- Dependence on the automotive, commercial vehicle, data center, and construction industries;
- Timing, quality and cost of new program launches;
- Changes in electric vehicle (“EV”) demand;
- Investment in programs prior to the recognition of revenue;
- Effects from production delays or cancelled orders;
- Changes in global trade policies, including tariffs;
- Changes, expiration, or renegotiation of the United States Mexico Canada Agreement (“USMCA”);
- Failure to attract and retain qualified personnel;
- Effects from inflation;
- Dependence on the availability and price of materials;
- Dependence on a small number of large customers;
- Dependence on our supply chain;
- Risks related to conducting global operations;
- Risks related to geopolitical conflicts;
- Effects of potential catastrophic events or other business interruptions;
- Our ability to withstand pricing pressures, including price reductions;
- Our ability to compete effectively;
- Our lengthy sales cycle;
- Contracts with customers are not for guaranteed volumes;
- Risks related to our exposure to technological change, customer concentration, and cyclical demand in the data center market;
- Potential work stoppages;
- Our ability to successfully benefit from acquisitions and divestitures;
- Our ability to manage our debt levels and refinance or extend our credit agreement;
- Our ability to comply with restrictions and covenants under our credit agreement;
- Interest rate changes and variable rate instruments;
- Timing and magnitude of costs associated with restructuring activities;
- Recognition of goodwill, other intangible asset, and long-lived asset impairment charges;
- Risks associated with inventory;
- Currency fluctuations;
- Income tax rate fluctuations;
- Judgments related to accounting for tax positions;
- Our ability to realize the benefits from our deferred tax assets;
- Risks associated with litigation;
- Risks associated with government inquiries;
- Risks associated with warranty claims;
- Effects of changing government regulations;
- Changing requirements by stakeholders on environmental or social matters;
- Effects of information technology (“IT”) disruptions or cybersecurity incidents;
- Our ability to innovate and keep pace with technological changes; and
- Our ability to protect our intellectual property.
Additional details and factors are discussed under the caption “Risk Factors” in our periodic reports filed with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. Any forward-looking statements made by us speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Contact Information
ir@methode.com
| METHODE ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions, except per-share data) | ||||||||||||||||
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| May 2, 2026 | May 3, 2025 | May 2, 2026 | May 3, 2025 | |||||||||||||
| (13 Weeks) | (13 Weeks) | (52 Weeks) | (53 Weeks) | |||||||||||||
| Net sales | $ | 298.1 | $ | 257.1 | $ | 1,019.2 | $ | 1,048.1 | ||||||||
| Cost of products sold | 225.9 | 237.5 | 817.0 | 884.7 | ||||||||||||
| Gross profit | 72.2 | 19.6 | 202.2 | 163.4 | ||||||||||||
| Selling and administrative expenses | 55.6 | 37.4 | 170.3 | 163.9 | ||||||||||||
| Amortization of intangibles | 5.7 | 5.8 | 23.1 | 23.4 | ||||||||||||
| Income (loss) from operations | 10.9 | (23.6 | ) | 8.8 | (23.9 | ) | ||||||||||
| Interest expense, net | 6.3 | 5.5 | 23.3 | 22.0 | ||||||||||||
| Other expense (income), net | (8.1 | ) | 1.3 | (3.8 | ) | 4.2 | ||||||||||
| Pre-tax income (loss) | 12.7 | (30.4 | ) | (10.7 | ) | (50.1 | ) | |||||||||
| Income tax expense (benefit) | 12.3 | (2.1 | ) | 25.0 | 12.5 | |||||||||||
| Net income (loss) | $ | 0.4 | $ | (28.3 | ) | $ | (35.7 | ) | $ | (62.6 | ) | |||||
| Income (loss) per share: | ||||||||||||||||
| Basic | $ | 0.01 | $ | (0.80 | ) | $ | (1.01 | ) | $ | (1.77 | ) | |||||
| Diluted | $ | 0.01 | $ | (0.80 | ) | $ | (1.01 | ) | $ | (1.77 | ) | |||||
| Cash dividends per share | $ | 0.05 | $ | 0.14 | $ | 0.22 | $ | 0.56 | ||||||||
| METHODE ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions, except share and per-share data) | ||||||||
| May 2, 2026 | May 3, 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 139.6 | $ | 103.6 | ||||
| Accounts receivable, net | 257.3 | 241.0 | ||||||
| Inventories, net | 178.7 | 194.1 | ||||||
| Income tax receivable | 3.2 | 4.1 | ||||||
| Prepaid expenses and other current assets | 21.2 | 17.1 | ||||||
| Total current assets | 600.0 | 559.9 | ||||||
| Long-term assets: | ||||||||
| Property, plant and equipment, net | 209.3 | 221.6 | ||||||
| Goodwill | 174.9 | 172.7 | ||||||
| Other intangible assets, net | 218.9 | 238.4 | ||||||
| Operating lease right-of-use assets, net | 20.5 | 23.7 | ||||||
| Deferred tax assets | 39.5 | 37.8 | ||||||
| Pre-production costs | 18.2 | 31.7 | ||||||
| Other long-term assets | 24.8 | 20.0 | ||||||
| Total long-term assets | 706.1 | 745.9 | ||||||
| Total assets | $ | 1,306.1 | $ | 1,305.8 | ||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 134.1 | $ | 125.9 | ||||
| Accrued employee liabilities | 49.1 | 32.0 | ||||||
| Other accrued liabilities | 45.6 | 50.2 | ||||||
| Short-term operating lease liabilities | 8.9 | 7.4 | ||||||
| Short-term debt | 0.2 | 0.2 | ||||||
| Income tax payable | 15.6 | 17.5 | ||||||
| Total current liabilities | 253.5 | 233.2 | ||||||
| Long-term liabilities: | ||||||||
| Long-term debt | 324.8 | 317.4 | ||||||
| Long-term operating lease liabilities | 14.8 | 18.2 | ||||||
| Other long-term liabilities | 5.8 | 16.9 | ||||||
| Deferred tax liabilities | 29.7 | 26.8 | ||||||
| Total long-term liabilities | 375.1 | 379.3 | ||||||
| Total liabilities | 628.6 | 612.5 | ||||||
| Shareholders' equity: | ||||||||
| Common stock, | 18.4 | 18.6 | ||||||
| Additional paid-in capital | 200.1 | 191.8 | ||||||
| Accumulated other comprehensive loss | (8.8 | ) | (29.8 | ) | ||||
| Treasury stock, 1,346,624 shares as of May 2, 2026 and May 3, 2025 | (11.5 | ) | (11.5 | ) | ||||
| Retained earnings | 479.3 | 524.2 | ||||||
| Total shareholders' equity | 677.5 | 693.3 | ||||||
| Total liabilities and shareholders' equity | $ | 1,306.1 | $ | 1,305.8 | ||||
| METHODE ELECTRONICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) | ||||||||
| Fiscal Year Ended | ||||||||
| May 2, 2026 | May 3, 2025 | |||||||
| (52 Weeks) | (53 Weeks) | |||||||
| Operating activities: | ||||||||
| Net income (loss) | $ | (35.7 | ) | $ | (62.6 | ) | ||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 58.8 | 58.5 | ||||||
| Stock-based compensation expense | 8.5 | 7.4 | ||||||
| Amortization of debt issuance costs | 1.6 | 1.1 | ||||||
| Partial write-off of unamortized debt issuance costs | 0.6 | 1.2 | ||||||
| (Gain) loss on sale of property, plant and equipment | (0.4 | ) | (0.5 | ) | ||||
| (Gain) loss on sale of business | (11.2 | ) | — | |||||
| Impairment of long-lived assets | 1.2 | 1.1 | ||||||
| Inventory obsolescence | 8.0 | 20.4 | ||||||
| Goodwill impairment | — | — | ||||||
| Change in deferred income taxes | 1.7 | (5.8 | ) | |||||
| Other | (0.9 | ) | 1.9 | |||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | (12.3 | ) | 22.7 | |||||
| Inventories, net | 7.9 | (25.7 | ) | |||||
| Prepaid expenses and other assets | 4.7 | 17.3 | ||||||
| Accounts payable | 7.4 | (5.4 | ) | |||||
| Other liabilities | (1.9 | ) | (5.2 | ) | ||||
| Net cash provided (used) by operating activities | 38.0 | 26.4 | ||||||
| Investing activities: | ||||||||
| Purchases of property, plant and equipment | (22.4 | ) | (41.6 | ) | ||||
| Proceeds from redemption of life insurance | 3.2 | — | ||||||
| Proceeds from settlement of net investment hedge | — | 3.1 | ||||||
| Proceeds from disposition of assets | 5.3 | 5.6 | ||||||
| Proceeds from sale of business | 15.2 | — | ||||||
| Net cash provided (used) by investing activities | 1.3 | (32.9 | ) | |||||
| Financing activities: | ||||||||
| Taxes paid related to net share settlement of equity awards | (1.4 | ) | (4.3 | ) | ||||
| Repayments of finance leases | (0.2 | ) | (0.2 | ) | ||||
| Debt issuance costs | (1.6 | ) | (1.8 | ) | ||||
| Purchases of common stock | — | (1.6 | ) | |||||
| Cash dividends | (8.3 | ) | (20.4 | ) | ||||
| Purchase of redeemable noncontrolling interest | — | — | ||||||
| Proceeds from borrowings | 88.5 | 138.0 | ||||||
| Repayments of borrowings | (91.2 | ) | (168.6 | ) | ||||
| Net cash provided (used) by financing activities | (14.2 | ) | (58.9 | ) | ||||
| Effect of foreign currency exchange rate changes on cash and cash equivalents | 10.9 | 7.5 | ||||||
| Increase (decrease) in cash and cash equivalents | 36.0 | (57.9 | ) | |||||
| Cash and cash equivalents at beginning of the year | 103.6 | 161.5 | ||||||
| Cash and cash equivalents at end of the year | $ | 139.6 | $ | 103.6 | ||||
| Supplemental cash flow information: | ||||||||
| Cash paid during the period for: | ||||||||
| Interest | $ | 20.9 | $ | 23.4 | ||||
| Income taxes, net of refunds | $ | 24.6 | $ | 22.3 | ||||
| METHODE ELECTRONICS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (unaudited) (in millions) | ||||||||||||||||
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| May 2, 2026 | May 3, 2025 | May 2, 2026 | May 3, 2025 | |||||||||||||
| (13 Weeks) | (13 Weeks) | (52 Weeks) | (53 Weeks) | |||||||||||||
| EBITDA: | ||||||||||||||||
| Net income (loss) | $ | 0.4 | $ | (28.3 | ) | $ | (35.7 | ) | $ | (62.6 | ) | |||||
| Income tax expense | 12.3 | (2.1 | ) | 25.0 | 12.5 | |||||||||||
| Interest expense, net | 6.3 | 5.5 | 23.3 | 22.0 | ||||||||||||
| Amortization of intangibles | 5.7 | 5.8 | 23.1 | 23.4 | ||||||||||||
| Depreciation | 8.6 | 10.2 | 35.7 | 35.1 | ||||||||||||
| EBITDA | 33.3 | (8.9 | ) | 71.4 | 30.4 | |||||||||||
| Transformation costs * | — | — | — | 8.7 | ||||||||||||
| Partial write-off of unamortized debt issuance costs | — | — | 0.6 | 1.2 | ||||||||||||
| Restructuring costs and asset impairment charges | 2.6 | 2.0 | 5.0 | 2.7 | ||||||||||||
| Net gain on sale of non-core assets | (11.1 | ) | (0.2 | ) | (11.6 | ) | (0.5 | ) | ||||||||
| Transaction cost and other strategic costs | 2.1 | — | 2.8 | — | ||||||||||||
| Adjusted EBITDA | $ | 26.9 | $ | (7.1 | ) | $ | 68.2 | $ | 42.5 | |||||||
| EBITDA as a % of net sales | 11.2 | % | (3.5 | )% | 7.0 | % | 2.9 | % | ||||||||
| Adjusted EBITDA as a % of net sales | 9.0 | % | (2.8 | )% | 6.7 | % | 4.1 | % | ||||||||
| * Represents professional fees related to the Company's cost reduction initiative. | ||||||||||||||||
| Three Months Ended | Fiscal Year Ended | |||||||||||||||
| May 2, 2026 | May 3, 2025 | May 2, 2026 | May 3, 2025 | |||||||||||||
| (13 Weeks) | (13 Weeks) | (52 Weeks) | (53 Weeks) | |||||||||||||
| Free Cash Flow: | ||||||||||||||||
| Net cash provided (used) by operating activities | $ | 4.9 | $ | 35.4 | $ | 38.0 | $ | 26.4 | ||||||||
| Purchases of property, plant and equipment | (5.8 | ) | (9.1 | ) | (22.4 | ) | (41.6 | ) | ||||||||
| Free cash flow | $ | (0.9 | ) | $ | 26.3 | $ | 15.6 | $ | (15.2 | ) | ||||||
| May 2, 2026 | May 3, 2025 | |||||||
| Net Debt: | ||||||||
| Short-term debt | $ | 0.2 | $ | 0.2 | ||||
| Long-term debt | 324.8 | 317.4 | ||||||
| Total debt | 325.0 | 317.6 | ||||||
| Less: cash and cash equivalents | (139.6 | ) | (103.6 | ) | ||||
| Net debt | $ | 185.4 | $ | 214.0 | ||||
| METHODE ELECTRONICS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (unaudited) (in millions, except per share data) | ||||||||||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||||||||
| May 2, 2026 (13 Weeks) | May 3, 2025 (13 Weeks) | |||||||||||||||||||||||||||||||
| Income (loss) from operations | Pre-tax income (loss) | Net income (loss) | Diluted income (loss) per share | Income (loss) from operations | Pre-tax income (loss) | Net income (loss) | Diluted income (loss) per share | |||||||||||||||||||||||||
| U.S. GAAP (as reported) | $ | 10.9 | $ | 12.7 | $ | 0.4 | $ | 0.01 | $ | (23.6 | ) | $ | (30.4 | ) | $ | (28.3 | ) | $ | (0.80 | ) | ||||||||||||
| Transformation costs | — | — | — | $ | — | — | — | — | $ | — | ||||||||||||||||||||||
| Restructuring costs and asset impairment charges | 2.6 | 2.6 | 2.0 | $ | 0.06 | 2.0 | 2.0 | 1.6 | $ | 0.05 | ||||||||||||||||||||||
| Net gain on sale of non-core assets | — | (11.1 | ) | (8.5 | ) | $ | (0.24 | ) | — | (0.2 | ) | (0.2 | ) | $ | (0.01 | ) | ||||||||||||||||
| Transaction cost and other strategic costs | 2.1 | 2.1 | 1.6 | $ | 0.04 | — | — | — | $ | — | ||||||||||||||||||||||
| Valuation allowance on deferred tax assets | — | — | (5.9 | ) | $ | (0.17 | ) | — | — | (0.5 | ) | $ | (0.01 | ) | ||||||||||||||||||
| Non-U.S. GAAP (adjusted) | $ | 15.6 | $ | 6.3 | $ | (10.4 | ) | $ | (0.30 | ) | $ | (21.6 | ) | $ | (28.6 | ) | $ | (27.4 | ) | $ | (0.77 | ) | ||||||||||
| Fiscal Year Ended | ||||||||||||||||||||||||||||||||
| May 2, 2026 (52 Weeks) | May 3, 2025 (53 Weeks) | |||||||||||||||||||||||||||||||
| Income (loss) from operations | Pre-tax income (loss) | Net income (loss) | Diluted income (loss) per share | Income (loss) from operations | Pre-tax income (loss) | Net income (loss) | Diluted income (loss) per share | |||||||||||||||||||||||||
| U.S. GAAP (as reported) | $ | 8.8 | $ | (10.7 | ) | $ | (35.7 | ) | $ | (1.01 | ) | $ | (23.9 | ) | $ | (50.1 | ) | $ | (62.6 | ) | $ | (1.77 | ) | |||||||||
| Transformation costs | — | — | — | $ | — | 8.7 | 8.7 | 6.7 | $ | 0.19 | ||||||||||||||||||||||
| Partial write-off of unamortized debt issuance costs | — | 0.6 | 0.5 | $ | 0.01 | — | 1.2 | 0.9 | $ | 0.03 | ||||||||||||||||||||||
| Restructuring costs and asset impairment charges | 5.0 | 5.0 | 4.0 | $ | 0.11 | 2.7 | 2.7 | 2.2 | $ | 0.06 | ||||||||||||||||||||||
| Net gain on sale of non-core assets | — | (11.6 | ) | (8.9 | ) | $ | (0.25 | ) | — | (0.5 | ) | (0.4 | ) | $ | (0.01 | ) | ||||||||||||||||
| Transaction cost and other strategic costs | 2.8 | 2.8 | 2.2 | $ | 0.06 | — | — | — | $ | — | ||||||||||||||||||||||
| Valuation allowance on deferred tax assets | — | — | 0.4 | $ | 0.01 | — | — | 13.5 | $ | 0.38 | ||||||||||||||||||||||
| Non-U.S. GAAP (adjusted) | $ | 16.6 | $ | (13.9 | ) | $ | (37.5 | ) | $ | (1.07 | ) | $ | (12.5 | ) | $ | (38.0 | ) | $ | (39.7 | ) | $ | (1.12 | ) | |||||||||
