Welcome to our dedicated page for Methode Electronics news (Ticker: MEI), a resource for investors and traders seeking the latest updates and insights on Methode Electronics stock.
Methode Electronics, Inc. (NYSE: MEI) is a global engineering company headquartered in Chicago, IL. Founded in 1946, Methode has evolved from a single-product manufacturer to a diversified entity that offers industrial design, distribution, and professional services across various sectors. The company's core business revolves around developing custom-engineered, application-specific products and solutions targeted at industries such as automotive, big data, white goods, aerospace & defense, consumer electronics, and healthcare.
Methode's portfolio includes component and subsystem devices employing electrical, radio remote control, electronic, wireless, and sensing technologies. The firm is organized into different business segments: Automotive, Industrial, Interface, and Medical.
- Automotive: This segment supplies electronic and electro-mechanical devices and related products to the automobile industry, contributing significantly to Methode's revenue.
- Industrial: This division manufactures external lighting solutions, industrial safety radio remote controls, braided flexible cables, and custom power-product assemblies. It caters to a wide range of industrial applications.
- Interface: The Interface segment provides a variety of copper and fiber-optic interface solutions designed for robust performance.
- Medical: This segment consists of the company's medical device business, Dabir Surfaces, which focuses on surface support technology aimed at preventing pressure injuries.
Recent Achievements
For the first quarter of fiscal 2024, Methode reported net sales of $289.7 million, a slight increase from $282.4 million in the same quarter of fiscal 2023. The acquisition of Nordic Lights contributed $21.2 million, although operational inefficiencies and other challenges affected overall earnings. Corrective action plans are in place to address these issues.
In the second quarter of fiscal 2024, the company faced headwinds including auto program roll-offs, softening e-bike markets, and operational challenges. Despite these obstacles, Methode remains committed to its strategic goals, including new program launches and correction of operational inefficiencies.
For the third quarter of fiscal 2024, net sales were reported at $259.5 million, compared to $280.1 million in the same quarter of the previous year. The transition of the CEO position to Avi Avula underscores Methode's commitment to addressing ongoing challenges and setting the stage for future growth.
Overall, Methode's key strengths lie in its capability to deliver custom-engineered solutions across a diverse range of industries, supported by a global footprint with facilities in North America, Europe, the Middle East, and Asia. The company is navigating market challenges with a proactive approach to operational efficiencies and strategic investment.
Methode Electronics (NYSE: MEI) has announced a quarterly dividend of $0.14 per share, to be paid on January 28, 2022. Shareholders of record by the close of business on January 14, 2022 will receive this dividend. The company specializes in custom-engineered solutions involving user interface, LED lighting, and power distribution across various industries, including automotive and medical devices. With operations in North America, Europe, the Middle East, and Asia, Methode continues to support a range of end markets.
Methode Electronics, Inc. (NYSE: MEI) reported Q2 fiscal 2022 net sales of $295.5 million, down 1.8% year-over-year, with electric and hybrid vehicle applications hitting a record 16% of total sales. Net income decreased to $27.5 million or $0.72 per diluted share, down from $38.6 million in Q2 2021. The Automotive segment saw a 9.1% decline in sales due to semiconductor shortages, while the Industrial segment rose 18.9%. Full-year sales guidance was revised lower to $1,140-$1,160 million, with EPS guidance adjusted to $3.00-$3.20.
Methode Electronics, Inc. (NYSE: MEI) will release its second quarter fiscal 2022 results for the period ended October 30, 2021, on December 2, 2021, before market opening. A conference call led by CEO Donald W. Duda and CFO Ronald L. G. Tsoumas will discuss the financial highlights at 10:00 a.m. CST. Participants can join by calling 888-506-0062 or 973-528-0011. A replay will be available until December 16, 2021. Methode specializes in custom-engineered solutions for user interfaces, LED lighting, and power distribution applications across various sectors.
Methode Electronics, Inc. (NYSE: MEI) will present at the Sidoti Fall Virtual Investor Conference on September 23, 2021, at 10:45 a.m. EDT. Investors can access a live webcast via the company’s website, which will also be archived for later viewing. Methode Electronics specializes in custom-engineered solutions in user interfaces, LED lighting, and power distribution, serving various sectors including transportation, cloud computing, and medical devices. The company operates globally with facilities in North America, Europe, the Middle East, and Asia.
Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.14 per share, set to be paid on October 29, 2021, to stockholders on record by October 15, 2021. The company is a global supplier specializing in user interface, LED lighting, and power distribution solutions, serving diverse sectors including automotive, medical devices, and construction. With operations across North America, Europe, Middle East, and Asia, Methode Electronics focuses on delivering engineered products for OEMs across various industries.
Methode Electronics, Inc. (NYSE: MEI) reported a 51% increase in net sales to $287.8 million for Q1 Fiscal 2022, driven by electric and hybrid vehicle applications, which represented 16% of total sales. Income from operations surged 147% to $34.1 million, with a net income of $29.1 million ($0.76 per share). The company also announced a quarterly dividend increase from $0.11 to $0.14 per share and continued its share buyback program, purchasing 157,513 shares for $7.6 million. However, ongoing supply chain challenges may impact future performance.
Methode Electronics (NYSE: MEI) will release its first quarter fiscal 2022 results on September 2, 2021, before market opens. The results will cover the period ending July 31, 2021. A conference call led by President Donald W. Duda and CFO Ronald L. G. Tsoumas will take place at 10:00 a.m. CDT to discuss financial and operational highlights. Participants can join by calling 844-602-0380 (domestic) or 862-298-0970 (international). Replays will be available until September 16, 2021, via phone and the company's website.
Methode Electronics (NYSE: MEI) will present at the J.P. Morgan Virtual Auto Conference on August 12, 2021, at 4:00 p.m. EDT. The event will be accessible via a webcast on the company’s website, which will also archive the presentation for future access.
Methode Electronics specializes in custom-engineered solutions for user interfaces, LED lighting, and power distribution across various sectors, including automotive and medical devices, with a global presence in North America, Europe, the Middle East, and Asia.
Methode Electronics (NYSE: MEI) reported record net sales of $1,088 million for Fiscal 2021, reflecting a 3.7% increase excluding foreign currency impact. The fourth quarter net sales reached $301 million, with 13% from electric and hybrid vehicle applications. Net income stood at $31.1 million ($0.81 per diluted share). The company forecasts Fiscal 2022 net sales between $1,175 million and $1,235 million, and diluted EPS between $3.35 and $3.75, despite supply chain challenges. Free cash flow was a record $154.9 million.
Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.14 per share, reflecting a 27% increase from the previous rate. The dividend will be paid on July 30, 2021, to stockholders of record by July 16, 2021. This increase underscores the company’s commitment to a balanced capital allocation strategy. Methode Electronics is recognized for its innovative solutions across various sectors, including automotive, industrial, and medical, with operations globally in North America, Europe, the Middle East, and Asia.
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