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, Inc. (NYSE: MEI) will release its third quarter fiscal 2021 results on March 4, 2021, before the market opens. The results will cover the period ending January 30, 2021. Following the release, a conference call led by CEO Donald W. Duda and CFO Ronald Tsoumas is scheduled for 10:00 a.m. CST to discuss financial and operational highlights. Participants can join the call by dialing 888-506-0062 or 973-528-0011 for international calls. A replay will be available until March 18, 2021, via a dedicated phone line and the company's website.
Methode Electronics (NYSE: MEI) will present at the 23rd Annual Needham Virtual Growth Conference on January 12, 2021, at 10:00 a.m. EST. Interested parties can access a simultaneous webcast via the company’s website on the Investors page, where it will also be archived for later viewing.
As a global leader in custom engineered products, Methode operates across various sectors, including Automotive and Medical. The company boasts manufacturing facilities in multiple countries, emphasizing its extensive market reach and technology in electronics and sensing solutions.
Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.11 per share, payable on January 29, 2021. Shareholders of record as of January 15, 2021 will be eligible for this dividend. Methode Electronics specializes in custom engineered products across various sectors, including automotive, industrial, and medical markets. With a global presence and extensive manufacturing capabilities, the company continues to expand its product offerings in advanced technologies.
Methode Electronics (NYSE: MEI) reported record net sales of $300.8 million for Q2 fiscal 2021, up from $257.2 million year-over-year, driven by strong automotive segment growth and favorable foreign currency effects. Income from operations reached a record $45.0 million, while net income was $38.6 million ($1.01 per diluted share). The company generated $40.3 million in operating cash flow and reported a free cash flow of $36.7 million. For Q3, the outlook suggests net sales between $265 million to $285 million with EPS guidance of $0.69 to $0.85.
Methode Electronics, Inc. (NYSE: MEI) will release its second quarter fiscal 2021 results on December 3, 2020, before market opening. The report will cover the period ending October 31, 2020. Following the release, a conference call will be held at 10:00 a.m. CST, featuring President Donald W. Duda and CFO Ron Tsoumas discussing financial and operational highlights. Participation details include dialing (877) 407-8031 domestically or (201) 689-8031 internationally. A replay will be available until December 17, 2020.
Methode Electronics, Inc. (NYSE: MEI) updated its fiscal Q2 2021 guidance, expecting net sales between $270 million and $285 million, an increase from the previous estimate of $230 million to $250 million. The company also forecasts diluted EPS of $0.71 to $0.81, accounting for $3 million in restructuring costs. This revised projection is driven by improved customer demand, particularly in the automotive sector, despite ongoing risks related to COVID-19 disruptions.
On September 16, 2020, Methode Electronics (NYSE: MEI) announced a quarterly dividend of $0.11 per share, scheduled for payment on October 30, 2020. Stockholders of record as of October 16, 2020 are eligible for this dividend. Methode Electronics, a global provider of custom-engineered products, operates across various sectors including automotive and medical. The company has extensive manufacturing and design capabilities worldwide, which cater to multiple industries such as aerospace, consumer electronics, and transportation.
Methode Electronics (NYSE: MEI) will release its fourth quarter and full year Fiscal 2020 results on June 30, 2020. The results cover the period ended May 2, 2020. Following the earnings announcement, a conference call will be held at 10:00 a.m. CDT, led by CEO Donald W. Duda and CFO Ron Tsoumas. Investors can participate by dialing (844) 369-8770 domestically or (862) 298-0840 internationally. A replay will be available until July 14, 2020. Methode is a global developer of custom engineered products, operating across various industries.
Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.11 per share, payable on July 31, 2020, to shareholders on record by July 17, 2020. This decision highlights the company’s commitment to returning value to its investors amid its diverse operations in various markets including automotive, medical, and aerospace.
Methode Electronics develops custom-engineered solutions, operating globally with facilities in multiple countries. The company’s products utilize advanced technologies across numerous applications.
Methode Electronics (NYSE: MEI) reported preliminary financial results for Fiscal 2020, expecting net sales of approximately $1.02 billion, a 2% increase year-over-year, despite a negative impact of $85 million in the fourth quarter due to COVID-19 production shutdowns. The income before taxes is projected between $147 million and $149 million, and diluted earnings per share are expected to range from $3.22 to $3.28. The company has taken proactive steps to manage liquidity amidst uncertainties while forecasting a record year in sales.