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Methode Electronics, Inc. - MEI STOCK NEWS

Welcome to our dedicated news page for Methode Electronics (Ticker: MEI), a resource for investors and traders seeking the latest updates and insights on Methode Electronics.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Methode Electronics's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Methode Electronics's position in the market.

News
Methode Electronics Announces CFO Transition Plan
Rhea-AI Summary
Methode Electronics, Inc. announced the retirement of CFO Ronald L. G. Tsoumas effective July 12, 2024, with a search for a permanent successor underway. Interim CFO David Rawden will step in if a successor is not found. Tsoumas' tenure saw Methode's sales double and expansion through acquisitions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.24%
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none
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News
Methode Electronics’ Board Approves Dividend
Rhea-AI Summary
Methode Electronics, Inc. (MEI) has declared a quarterly dividend of $0.14 per share for common stockholders, payable on April 26, 2024. MEI is a global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
dividends
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News
Methode Electronics, Inc. Reports Fiscal 2024 Third Quarter Financial Results
Rhea-AI Summary
Methode Electronics, Inc. reported financial results for Q3 fiscal 2024, with net sales of $259.5 million, 19% from electric and hybrid vehicle applications. The company incurred a net loss of $11.6 million, suspending forward-looking guidance. The CEO aims to restore profitability by reducing costs and increasing free cash flow.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-31.13%
Tags
earnings
News
Methode Electronics to Announce Third Quarter Fiscal 2024 Results on Thursday, March 7, 2024
Rhea-AI Summary
Methode Electronics, Inc. (MEI) will release its third quarter fiscal 2024 results on March 7, 2024. The company will conduct a conference call and webcast to discuss financial and operational highlights. President and CEO Avi Avula and CFO Ronald L. G. Tsoumas will lead the review.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.05%
Tags
earnings
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News
Methode Electronics Appoints Avi Avula as New CEO
Rhea-AI Summary
Methode Electronics, Inc. (NYSE: MEI) appoints Avi Avula as the new President and CEO, bringing 17 years of electronics industry leadership experience. Avula will replace retiring President and CEO Donald W. Duda and work with him during a three-month transition period. Avula's appointment follows a comprehensive search process to identify the right CEO to lead Methode forward. Chairman Walter J. Aspatore expressed excitement about Avula's proven executive experience and his potential to drive innovation, growth, and value creation for shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.96%
Tags
management
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News
Methode Electronics, Inc. Reports Fiscal 2024 Second Quarter Financial Results
Rhea-AI Summary
Methode Electronics, Inc. (NYSE: MEI) reported net sales of $288.0 million for the second quarter of fiscal 2024, with electric and hybrid vehicle applications accounting for 19 percent of net sales. The company also announced a goodwill impairment of $56.5 million, resulting in a net loss of $55.3 million, or $1.55 per diluted share. Adjusted net income was $2.4 million, or $0.06 per diluted share. The impact of the UAW strike on earnings was $0.03 per diluted share. Methode purchased 322,779 shares of its common stock for $7.8 million. The company's President and CEO, Donald W. Duda, highlighted challenges related to auto program roll-offs, a difficult year-over-year comparison in Asia, continued softness in the e-bike market, and the impact from the UAW strike, leading to decreased sales and operational inefficiencies in North American Auto operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.27%
Tags
earnings
News
Methode Electronics’ Board Approves Dividend
Rhea-AI Summary
Methode Electronics, Inc. (NYSE: MEI) declares a quarterly dividend of $0.14 per share, to be paid on January 26, 2024, to common stockholders of record at the close of business on January 12, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.27%
Tags
dividends
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News
Methode Electronics to Announce Second Quarter Fiscal 2024 Results on Thursday, December 7, 2023
Rhea-AI Summary
Methode Electronics, Inc. (MEI) will release its second quarter fiscal 2024 results on December 7, 2023, before the market opens. The company will conduct a conference call and webcast to review financial and operational highlights led by its President and CEO, Donald W. Duda, and CFO, Ronald L. G. Tsoumas, at 10:00 a.m. CST.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.68%
Tags
earnings
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News
Methode Electronics to Present at the Sidoti Small-Cap Virtual Conference
Rhea-AI Summary
Methode Electronics to present at Sidoti Small-Cap Virtual Conference on September 21 at 2:30 p.m. EDT
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.49%
Tags
conferences
News
Methode Electronics’ Board Approves Dividend
Rhea-AI Summary
Methode Electronics, Inc. declares quarterly dividend of $0.14 per share
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.04%
Tags
dividends
Stock MEI logo
Methode Electronics, Inc.

NYSE:MEI

MEI Rankings

#3085 Ranked by Market Cap
#4506 Ranked by Stock Gains
#716 Ranked by Dividends

MEI Stock Data

443.09M
34.21M
5.07%
98.86%
4.83%
Electronic Connector Manufacturing
Manufacturing
Link
US
Chicago

About MEI

methode electronics, inc. (nyse: mei) is an international engineering company headquartered in chicago, il. methode was founded in 1946 as a single-product manufacturer and has since expanded its business into industrial design, distribution and professional services. here at methode, we utilize technical capabilities to develop custom-engineered application-specific products and solutions for a variety of markets and customers. this includes the industries of automotive, big data, white goods, aerospace & defense, consumer electronics and healthcare. for additional information, visit methode.com.