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Methode Electronics reports developments tied to its custom-engineered mechatronic solutions for OEM customers, including user interface systems, lighting, power distribution and sensor applications. The company serves transportation, cloud computing infrastructure, construction equipment and consumer appliance end markets through Automotive, Industrial and Interface segments.
Recurring news covers fiscal operating results, margin and sales commentary, transformation and portfolio-refinement actions, dividends, and investor conference appearances. Company updates also address power-solution strategy, facility-footprint actions, and completed divestitures such as the sale of the dataMate copper transceiver business.
Methode Electronics (NYSE: MEI) has announced its board of directors has approved a quarterly dividend payment. The company, which specializes in custom-engineered solutions for user interface, lighting, and power distribution applications, will distribute $0.14 per share to common stockholders. The dividend will be paid on May 2, 2025, to shareholders of record as of the close of business on April 18, 2025.
Methode Electronics (NYSE: MEI) announced that its Grakon business unit, a global leader in advanced lighting systems, has been named a top-performing supplier by PACCAR, the manufacturer of Kenworth and Peterbilt trucks.
The recognition comes through PACCAR's Supplier Performance Management (SPM) Program, which evaluates suppliers based on product development, operations, aftermarket support, and alignment with PACCAR's business objectives. The program is designed to promote collaboration and continuous improvement across the supply chain.
Grakon has been instrumental in multiple PACCAR launches, providing interior and exterior lighting solutions for Kenworth, Peterbilt, and DAF vehicles. CEO Jon DeGaynor emphasized the company's commitment to innovation, quality, on-time delivery, and product reliability as key factors in maintaining their successful partnership with PACCAR.
Methode Electronics (NYSE: MEI) reported its fiscal 2025 third quarter results with net sales of $239.9 million, down from $259.5 million in the same quarter of fiscal 2024. The company posted a net loss of $14.4 million ($0.41 per diluted share), compared to $11.6 million loss in the previous year.
Key highlights include:
- Electric and hybrid vehicle applications represented 24% of net sales
- Strong performance in power product sales for data centers
- Positive free cash flow of $19.6 million
- Successfully launched 20 new programs this fiscal year, with 33 more expected in the next five quarters
The decrease in sales was primarily due to lower volume in the Automotive segment, partially offset by higher volume in the Industrial segment. Despite challenges, the company reaffirmed its guidance for profitable organic sales growth in fiscal 2026.
Methode Electronics (NYSE: MEI) has appointed Brad Corrodi as Chief Strategy Officer (CSO), effective March 10, 2025. Corrodi brings over 30 years of experience in strategic, investment, and operating roles to the global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications.
Based at the company's Chicago headquarters, Corrodi will focus on driving organic growth opportunities and exploring future M&A activities. A key aspect of his role will be identifying opportunities to expand Methode's power solutions enterprise into new and growing markets, supporting the company's broader transformation efforts to regain industry leadership.
Methode Electronics (NYSE: MEI), a global supplier of custom-engineered solutions for user interface, lighting system and power distribution applications, has scheduled its third quarter fiscal 2025 results release for March 5, 2025, after market close. The earnings period covers through February 1, 2025.
The company will host a conference call and webcast on March 6, 2025, at 10:00 a.m. CST, featuring President and CEO Jon DeGaynor and CFO Laura Kowalchik. Investors can join via phone (888-506-0062 domestic, 973-528-0011 international) or through the company's website. A replay will be available until March 20, 2025, using passcode 52027.
Methode Electronics (NYSE: MEI) has appointed Karen Keegans as its new Chief Human Resources Officer (CHRO), effective February 3, 2025. Keegans, who brings over 30 years of leadership experience including CHRO roles at Fortune 500 companies like Rockwell Automation, Pentair, and Praxair, will succeed Andrea Barry, who has served as CHRO since 2017.
Based at the company's Chicago headquarters, Keegans will focus on aligning culture and talent with business objectives, building organizational capabilities, and shifting the culture to be more globally aligned and performance-focused. These changes are part of Methode's broader strategy to regain industry leadership position.
Methode Electronics (NYSE: MEI), a global supplier of custom-engineered solutions specializing in user interface, lighting, and power distribution applications, has announced a quarterly dividend declaration. The dividend of $0.14 per share will be paid on January 31, 2025, to stockholders of record as of the close of business on January 17, 2025.
Methode Electronics (NYSE: MEI) reported fiscal Q2 2025 results with net sales of $292.6 million, showing a slight increase from $288.0 million in Q2 2024. The company posted a net loss of $1.6 million ($0.05 per share), improving from a $55.3 million loss in the prior year. Electric and hybrid vehicle applications represented 20% of net sales.
Key financial metrics include adjusted pre-tax income of $6.2 million and adjusted net income of $5.2 million ($0.14 per share). The company maintained full compliance with debt covenants, though net debt increased to $243.6 million. Management raised fiscal 2025 adjusted pre-tax income guidance to approximately breakeven and reaffirmed fiscal 2026 expectations for higher sales and notably greater pre-tax income.
Methode Electronics (NYSE: MEI) has scheduled the release of its second quarter fiscal 2025 financial results for Thursday, December 5, 2024, before market opening. The company will host a conference call and webcast at 10:00 a.m. CST featuring CEO Jon DeGaynor and CFO Laura Kowalchik to discuss the results for the period ended November 2, 2024. Methode Electronics, a global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, will provide dial-in options for both domestic and international participants.
Methode Electronics (NYSE: MEI) has appointed Lars Ullrich as Senior Vice President, Global Automotive Business, effective December 2, 2024. In this newly created position, Ullrich will oversee global strategic, launch, and commercial activities for the company's automotive business. Ullrich brings over 20 years of business and strategic leadership experience from multinational companies, including positions at Infineon Technologies and Robert Bosch. He most recently served as Head of Region Americas and Chief Business Officer at Larsen and Toubro Semiconductor Technologies.