Welcome to our dedicated page for Methode Ele news (Ticker: MEI), a resource for investors and traders seeking the latest updates and insights on Methode Ele stock.
Methode Electronics, Inc. (NYSE: MEI) is described in its public communications as a global supplier of custom-engineered mechatronic solutions for user interface, lighting, power distribution and sensor applications. This news page aggregates coverage related to the company’s operations across its Automotive, Industrial and Interface segments, as well as its activity in transportation, cloud computing infrastructure, construction equipment and consumer appliance end markets.
Investors following MEI news will find regular earnings announcements, where Methode reports segment net sales, income from operations, non‑GAAP measures such as Adjusted EBITDA, Net Debt and Free Cash Flow, and commentary on factors like electric vehicle demand, program roll‑offs and transformation initiatives. Releases often discuss trends in automotive sensor and user interface products, power products for data centers, and lighting products for commercial vehicles and off‑road equipment.
News items also include dividend declarations, with the board of directors announcing quarterly cash dividends and related record and payment dates, as well as information about conference calls and webcasts where management reviews financial and operational highlights. Additional updates cover investor conference participation, leadership changes in areas such as accounting and investor relations, and governance events like the annual meeting of stockholders.
By reviewing the MEI news stream, readers can see how Methode communicates its transformation progress, cost‑reduction efforts, capital allocation decisions and risk considerations. This page can be useful for tracking how developments in automotive, commercial vehicle, electric and hybrid vehicle applications, and data center power products are reflected in the company’s public disclosures over time.
Methode Electronics (NYSE: MEI) has appointed John T. Erwin as its new Chief Procurement Officer (CPO). With a 35-year career in procurement and supply chain management, Erwin will lead Methode's global procurement activities, focusing on evaluating processes, strengthening supplier relationships, and driving cost-savings initiatives.
President and CEO Jon DeGaynor expressed confidence in Erwin's ability to unlock cost reduction opportunities in the supply chain and contribute to the company's long-term profitability goals. Methode Electronics is a leading global supplier of custom-engineered solutions for user interface, LED lighting system, and power distribution applications.
Methode Electronics announced its fiscal 2024 fourth quarter and full year financial results. Net sales for Q4 were $277.3 million, down from $301.2 million in Q4 fiscal 2023. Goodwill impairment led to a net loss of $57.3 million or $1.63 per diluted share. Adjusted net loss was $7.9 million or $0.23 per diluted share. Net cash provided by operations was $24.9 million, and free cash flow was $15.8 million. The company’s net debt stood at $169.4 million. For fiscal 2024, net sales were $1,114.5 million, with a net loss of $123.3 million or $3.48 per diluted share. Adjusted net loss was $15.0 million or $0.43 per diluted share. For fiscal 2025, the company expects flat sales and breakeven pre-tax income, with a return to growth in fiscal 2026. Jon DeGaynor will become CEO on July 15, 2024.
Methode Electronics announced the appointment of Jon DeGaynor as President and CEO, effective July 15, 2024. He will also join the Board of Directors. DeGaynor, with 35 years of experience in engineered-products businesses, previously served as President and CEO of Stoneridge from 2015 to 2023 and has been Executive Chairman of Racing and Performance since 2023. He succeeds Kevin Nystrom, interim CEO since May 7, 2024. DeGaynor is noted for driving significant growth and value creation through strategic transformations. Chairman Walter Aspatore expressed confidence in DeGaynor's ability to guide Methode Electronics towards profitability and growth.
Methode Electronics, a global leader in custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced that its board of directors has approved a quarterly dividend.
The dividend of $0.14 per share will be paid on July 26, 2024, to common stockholders of record as of July 12, 2024.
Methode Electronics, Inc. announced the appointment of Kevin Nystrom as the interim CEO, succeeding Avi Avula. Mark Schwabero was named Vice Chairman of the Board. The company is engaging in a search for a permanent CEO. The changes aim to drive operational efficiencies, restore profitability, and enhance shareholder value.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.