Welcome to our dedicated page for Methode Ele news (Ticker: MEI), a resource for investors and traders seeking the latest updates and insights on Methode Ele stock.
Methode Electronics, Inc. (MEI) delivers innovative engineering solutions across automotive, industrial, and medical markets since 1946. This news hub provides investors and industry professionals with centralized access to official corporate announcements, financial disclosures, and strategic developments.
Track MEI's latest earnings reports, product launches, and partnership announcements alongside updates on sensor technologies, power distribution systems, and automotive interface innovations. Our curated collection ensures timely access to material developments affecting MEI's position in custom-engineered components markets.
Discover updates spanning MEI's core operational segments including automotive electronics, industrial interface systems, and medical device components. Content is rigorously verified to provide accurate insights into leadership changes, manufacturing expansions, and technological advancements.
Bookmark this page for streamlined monitoring of MEI's progress in developing mission-critical solutions for global OEM partners. Return regularly for unfiltered access to primary source materials essential for informed market analysis.
Rigrodsky Law, P.A. has announced an investigation into potential claims against the officers and directors of Methode Electronics, Inc. (NYSE: MEI) on behalf of stockholders. The investigation focuses on shareholders who purchased or acquired Methode shares on or before December 2, 2021. Interested parties are encouraged to visit the law firm's website or contact Leah Wihtelin for more information about the investigation and their rights.
Methode Electronics, Inc. (NYSE: MEI), a global supplier of custom-engineered solutions, has announced a planned transition in its Board leadership. Mark Schwabero has been appointed as the new Chairman of the Board, succeeding Walter Aspatore, who is retiring after 16 years of service. Schwabero, previously appointed as Vice Chairman in May 2024, has been a director at Methode since 2019. He brings valuable experience from his former role as Chairman, CEO, and Director of Brunswick , a recreational marine products company, from 2016 to 2018. This transition marks a significant change in Methode's leadership structure, potentially influencing the company's future direction and strategy.
Methode Electronics (NYSE: MEI), a global leader in custom-engineered solutions for user interface, LED lighting, and power distribution applications, has announced a quarterly dividend. The company's board of directors has declared a dividend of $0.14 per share, payable on November 1, 2024, to common stockholders of record at the close of business on October 18, 2024. This announcement demonstrates Methode Electronics' commitment to providing regular returns to its shareholders, potentially indicating financial stability and confidence in the company's future performance.
Methode Electronics (NYSE: MEI), a global leader in custom-engineered solutions for user interface, LED lighting, and power distribution, has announced its participation in the Sidoti Small Cap Conference. The company will present on September 18th at 2:30 p.m. EDT.
Investors and interested parties can access a live webcast of the presentation through Methode's website at www.methode.com, specifically on the Investors page. For those unable to attend the live event, an archived version of the webcast will be made available on the same page for future reference.
This presentation offers an opportunity for investors to gain insights into Methode Electronics' business strategies, market position, and future outlook in the custom-engineered solutions industry.
Methode Electronics (NYSE: MEI) reported fiscal 2025 Q1 results with net sales of $258.5 million, down from $289.7 million in Q1 2024. The company posted a net loss of $18.3 million, or $0.52 per diluted share, compared to a net income of $0.9 million in the same quarter last year. Adjusted net loss was $10.9 million, or $0.31 per diluted share. Despite challenges, net cash provided by operating activities improved to $10.9 million, up from -$5.6 million in the prior year. Methode affirmed its fiscal 2025 guidance, expecting net sales similar to fiscal 2024 and adjusted pre-tax income approaching breakeven. The company also announced the appointment of Laura Kowalchik as CFO, effective October 1, 2024.
The Schall Law Firm has announced a class action lawsuit against Methode Electronics, Inc. (NYSE:MEI) for alleged violations of securities laws. Investors who purchased Methode's securities between June 23, 2022, and March 6, 2024, are encouraged to participate. The lawsuit claims that Methode made false and misleading statements about its workforce, business transition, and product offerings.
Key allegations include:
- Failure to maintain a skilled workforce
- Poor execution in diversifying product offerings
- Problems at the Monterrey facility
- Delays in EV product program
The deadline for investors to join the case is October 25, 2024. The class has not yet been certified, and affected shareholders are advised to contact the Schall Law Firm for more information.
Methode Electronics (NYSE: MEI) has appointed Laura Kowalchik as Chief Financial Officer, effective October 1, 2024. Kowalchik, currently CFO at Communication & Power Industries, brings over 25 years of experience in strategic, management, and financial roles in the automotive and industrial sectors. She succeeds interim CFO David Rawden.
President and CEO Jon DeGaynor expressed confidence in Kowalchik's ability to guide the finance organization and support Methode's transformation to drive profitability and return to growth. Kowalchik's track record includes leading finance organizations through successful strategic transformations, resulting in enhanced financial practices, more efficient systems, and improved operational results.
Methode Electronics (NYSE: MEI), a global supplier of custom-engineered solutions for user interface, LED lighting system, and power distribution applications, has announced the release of its first quarter fiscal 2025 results on Thursday, September 5, 2024, before the market opens. The company will host a conference call and webcast at 10:00 a.m. CDT to review financial and operational highlights. The call will be led by CEO Jon DeGaynor and Interim CFO David Rawden. Investors can participate by dialing 888-506-0062 (domestic) or 973-528-0011 (international). A simultaneous webcast will be available on the company's website. A replay of the call will be accessible through September 19, 2024, by dialing 877-481-4010 with passcode 51071.
Methode Electronics (NYSE: MEI) has appointed John T. Erwin as its new Chief Procurement Officer (CPO). With a 35-year career in procurement and supply chain management, Erwin will lead Methode's global procurement activities, focusing on evaluating processes, strengthening supplier relationships, and driving cost-savings initiatives.
President and CEO Jon DeGaynor expressed confidence in Erwin's ability to unlock cost reduction opportunities in the supply chain and contribute to the company's long-term profitability goals. Methode Electronics is a leading global supplier of custom-engineered solutions for user interface, LED lighting system, and power distribution applications.
Methode Electronics announced its fiscal 2024 fourth quarter and full year financial results. Net sales for Q4 were $277.3 million, down from $301.2 million in Q4 fiscal 2023. Goodwill impairment led to a net loss of $57.3 million or $1.63 per diluted share. Adjusted net loss was $7.9 million or $0.23 per diluted share. Net cash provided by operations was $24.9 million, and free cash flow was $15.8 million. The company’s net debt stood at $169.4 million. For fiscal 2024, net sales were $1,114.5 million, with a net loss of $123.3 million or $3.48 per diluted share. Adjusted net loss was $15.0 million or $0.43 per diluted share. For fiscal 2025, the company expects flat sales and breakeven pre-tax income, with a return to growth in fiscal 2026. Jon DeGaynor will become CEO on July 15, 2024.
