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Methode Electronics - $MEI STOCK NEWS

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.

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.

Rhea-AI Summary
Methode Electronics, Inc. announces Q1 2024 financial results. Net sales were $289.7M, with electric and hybrid vehicle applications accounting for 22% of sales. Net income was $0.9M, adjusted net income was $2.0M. Operational inefficiencies and accelerated expenses led to an earnings shortfall. Earnings guidance for the full year is lowered. However, the company remains on track with new program launches. Debt and net debt increased. Q2 2024 net sales are expected to be $285-295M with diluted EPS of $0.08-0.13. Full-year 2024 net sales are expected to be $1,140-1,180M with diluted EPS of $0.80-1.00. Full-year 2025 net sales are expected to be $1,250-1,350M. The guidance is subject to change due to various factors.
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Methode Electronics CEO Donald W. Duda to retire, external search for successor begins
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Methode Electronics, Inc. to release Q1 fiscal 2024 results on September 7, 2023
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Methode Electronics

NYSE:MEI

MEI Rankings

MEI Stock Data

436.72M
34.21M
5.07%
98.86%
4.83%
Electronic Connector Manufacturing
Manufacturing
Link
United States of America
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.