Methode Ele Stock Price, News & Analysis

Methode Electronics, Inc. (NYSE: MEI) reported Q3 fiscal 2023 net sales of $280.1 million, a 3.9% decline year-over-year, largely due to foreign currency impacts and inflationary pressures. Electric and hybrid vehicle applications comprised a record 24% of sales. Net income fell to $19.9 million or $0.54 per diluted share, impacted by increased foreign exchange losses. Free cash flow surged to $42.9 million, up from $11.8 million, aided by working capital improvements. The company announced a public tender offer for Nordic Lights at EUR 6.30 per share, expected to be accretive to earnings and cash flow in fiscal 2024. Guidance for FY 2023 net sales was revised down to $1,155-$1,180 million.

Methode Electronics, Inc. (NYSE: MEI) has announced a public tender offer for Nordic Lights Group Corporation at EUR 6.30 per share, valuing the acquisition at approximately EUR 132 million. Nordic Lights specializes in high-quality LED lighting solutions for heavy-duty equipment, serving sectors such as mining and construction. Methode anticipates that the acquisition will positively impact earnings and free cash flow in fiscal 2024, funded through cash reserves and existing credit. The deal requires over 90% shareholder acceptance for completion and is expected to finalize in H2 2023, pending customary conditions and regulatory approvals.

Methode Electronics, Inc. (NYSE: MEI) will release its third quarter fiscal 2023 results on March 9, 2023, before the market opens. The results will cover the period ending January 28, 2023. Following the release, a conference call led by President and CEO Donald W. Duda and CFO Ronald L. G. Tsoumas is scheduled for 10:00 a.m. CST. Interested parties can join the call at 888-506-0062 (domestic) or 973-528-0011 (international), or access a webcast on the company's website. A replay will be available until March 23, 2023.

Methode Electronics specializes in custom-engineered solutions across various sectors, including automotive, industrial, and medical.

Methode Electronics (NYSE: MEI) will participate in the 25th Annual Needham Growth Conference on January 11, 2023, at 8:00 a.m. EST. The event will showcase the company's innovative solutions for user interfaces, LED lighting, and power distribution. A live webcast will be available on their website, and an archived version will also be accessible later. Methode Electronics specializes in custom-engineered solutions across various sectors, including transportation, cloud computing, and medical devices, with operations spanning North America, Europe, the Middle East, and Asia.

Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.14 per share, scheduled for payment on January 27, 2023. Stockholders must be on record by the close of business on January 13, 2023 to receive this dividend. The company is a leading global supplier specializing in custom-engineered solutions across various sectors including automotive and medical devices, with a diverse product range such as user interfaces and power distribution applications.

Methode Electronics reported record net sales of $315.9 million for Q2 fiscal 2023, up 6.9% year-over-year. Sales in the electric and hybrid vehicle sector accounted for 20% of total revenue, while the Industrial segment achieved net sales of $103.8 million. Net income stood at $27.6 million, or $0.75 per diluted share. The company announced a $20 million share buyback program, purchasing 508,179 shares. Full-year guidance was revised to $1,170 - $1,200 million in sales, with EPS guidance lowered to $2.70 - $2.90 due to inflation and supply chain issues.

Methode Electronics (NYSE: MEI) will announce its Q2 fiscal 2023 results for the period ending October 29, 2022, on December 1, 2022, before market opens. Following the earnings release, a conference call led by CEO Donald W. Duda and CFO Ronald L. G. Tsoumas will discuss financial and operational highlights at 10:00 a.m. CST. Interested participants may join via phone or through a webcast available on the company’s website. A replay of the call will be accessible until December 15, 2022.

CHICAGO, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Methode Electronics (NYSE: MEI) will present at the Sidoti Small Cap Virtual Conference on September 21st at 12:15 p.m. EDT. Interested parties can access a simultaneous webcast on the company’s website, where it will also be archived.

Methode Electronics is a global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, with operations across North America, Europe, the Middle East, and Asia.

Methode Electronics, Inc. (NYSE: MEI) has declared a quarterly dividend of $0.14 per share, to be paid on October 28, 2022, to stockholders who are on record by October 14, 2022. The company specializes in custom-engineered solutions for user interface, LED lighting, and power distribution. Operating in diverse sectors including automotive, industrial, and medical, Methode Electronics maintains a global presence across North America, Europe, the Middle East, and Asia.