Methode Electronics Q1 sales rise 10.4%, loss $11M

Methode Electronics, Inc. (MEI) reported fiscal 2027 first-quarter net sales of $265.4 million, up 10.4% year-over-year, driven mainly by higher Industrial segment volumes, especially data center, on-highway and off-highway lighting products.

Rhea-AI Filing Summary

Methode Electronics, Inc. (MEI) reported fiscal 2027 first-quarter net sales of $265.4 million, up 10.4% year-over-year, driven mainly by higher Industrial segment volumes, especially data center, on-highway and off-highway lighting products. Despite higher sales and improved gross profit, one-time costs and higher selling and administrative expenses led to a net loss of $11.4 million, slightly worse than the prior-year loss.

Adjusted EBITDA declined to $13.7 million (5.2% margin) from $15.7 million (6.5% margin), and free cash flow swung to an outflow of $10.9 million from an inflow of $18.0 million, largely due to working capital timing. The Industrial segment delivered strong operating income of $31.6 million on 27.0% sales growth, while Automotive remained loss-making and Interface declined after the dataMate divestiture. The company reduced net debt to $194.3 million, made a net $10.1 million debt repayment, amended its revolving credit facility with certain maturities extended to October 2028, and affirmed fiscal 2027 guidance for net sales of $1.025–$1.075 billion and Adjusted EBITDA of $72–$82 million.

Positive

• Net sales grew 10.4% year-over-year to $265.4 million, led by a 27.0% increase in Industrial segment revenue, showing strong demand in data center, on-highway and off-highway lighting products.
• The Industrial segment generated $31.6 million of income from operations with a 20.2% margin, indicating strong profitability in that business despite broader company losses.
• The company made a net $10.1 million repayment on debt and reduced net debt to $194.3 million, reflecting balance sheet focus and some deleveraging.
• Fiscal 2027 guidance was affirmed, including net sales of $1.025–$1.075 billion and Adjusted EBITDA of $72–$82 million, signaling unchanged expectations despite near-term margin pressure.

Negative

• MEI reported a net loss of $11.4 million (diluted loss per share $0.32), slightly worse than the prior-year loss of $10.3 million, despite double-digit revenue growth.
• Adjusted EBITDA declined to $13.7 million (5.2% margin) from $15.7 million (6.5% margin), showing margin compression from higher material, freight and selling and administrative costs.
• Free cash flow deteriorated to a $10.9 million outflow versus an $18.0 million inflow a year earlier, driven mainly by higher inventories and accounts receivable.
• The Automotive segment remained unprofitable with a $11.7 million operating loss, and Interface swung from $3.0 million operating income to a $0.8 million loss following the dataMate divestiture and consumer appliance roll-offs.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net sales Q1 FY2027: $265.4 million Net loss Q1 FY2027: $11.4 million Adjusted EBITDA Q1 FY2027: $13.7 million +5 more

8 metrics

Net sales Q1 FY2027 $265.4 million Three months ended August 1, 2026, up from $240.5 million a year earlier

Net loss Q1 FY2027 $11.4 million Three months ended August 1, 2026; $10.3 million loss in prior-year quarter

Adjusted EBITDA Q1 FY2027 $13.7 million Three months ended August 1, 2026, versus $15.7 million a year earlier

Free cash flow Q1 FY2027 -$10.9 million Outflow for three months ended August 1, 2026; $18.0 million inflow a year earlier

Industrial segment operating income $31.6 million Q1 FY2027 income from operations, 20.2% of Industrial segment net sales

Automotive segment operating loss $11.7 million Q1 FY2027 loss from operations, (11.1)% of Automotive segment net sales

Fiscal 2027 net sales guidance $1,025–$1,075 million Company-affirmed full-year fiscal 2027 guidance range

Fiscal 2027 Adjusted EBITDA guidance $72–$82 million Company-affirmed full-year fiscal 2027 Adjusted EBITDA guidance range

Key Terms

Adjusted EBITDA, Free cash flow, Net debt, revolving credit facility, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA, a non-GAAP financial measure, was $13.7 million"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Free cash flow financial

"Free cash flow, a non-GAAP financial measure defined as net cash provided"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Net debt financial

"Net debt | | $ | 194.3 | | | $ | 185.4"

Net debt is the total amount a company owes after subtracting the cash and assets it has that can be used to pay off that debt. It shows how much debt is truly a burden, helping investors understand if a company is financially healthy or heavily borrowed. Think of it like calculating how much money you owe after using your savings to pay part of it.

revolving credit facility financial

"amended revolving credit facility to extend certain maturities one year"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

non-GAAP financial measures financial

"Methode uses Adjusted Net Income (Loss)... as non-GAAP financial measures"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

data center technical

"higher sales volumes for data center, on-highway and off-highway lighting products"

A data center is a secure facility that houses large numbers of computers, storage devices and networking gear that run, store and move digital information for businesses and online services. Investors treat data centers like modern warehouses: their occupancy, energy efficiency, connectivity and long-term service contracts drive steady revenue and capital needs, so changes in demand or costs can directly affect profitability and growth prospects.

Earnings Snapshot

Net sales: $265.4 million · Guidance included

Fiscal 2027 first quarter ended August 1, 2026

Net sales $265.4 million Up 10.4% from $240.5 million in fiscal 2026 first quarter

Net income (loss) -$11.4 million Slightly wider loss versus -$10.3 million a year earlier

Adjusted EBITDA $13.7 million Down from $15.7 million in prior-year quarter

Free cash flow -$10.9 million Down from $18.0 million inflow in prior-year quarter

Guidance

For fiscal 2027, the company affirmed guidance for net sales of $1,025–$1,075 million, interest expense of $20–$22 million, tax expense of $24–$26 million, D&A of $58–$62 million, Adjusted EBITDA of $72–$82 million, and capital expenditures of $25–$30 million.

FAQ

How did MEI’s fiscal 2027 Q1 revenue perform year-over-year?

MEI’s fiscal 2027 first-quarter net sales were $265.4 million, up 10.4% from $240.5 million in the same quarter of fiscal 2026, mainly driven by higher Industrial segment volumes and mix, particularly in data center, on-highway and off-highway lighting products.

Did MEI report a profit or loss in fiscal 2027 Q1 and how did it compare to last year?

MEI reported a net loss of $11.4 million, or $0.32 per diluted share, in fiscal 2027 Q1, compared to a net loss of $10.3 million, or $0.29 per diluted share, in the prior-year quarter, reflecting higher costs despite increased revenue.

What were MEI’s key profitability metrics such as Adjusted EBITDA in fiscal 2027 Q1?

Fiscal 2027 Q1 EBITDA was $12.0 million (4.5% of net sales) and Adjusted EBITDA was $13.7 million (5.2% of net sales), down from $15.7 million (6.5%) a year earlier, impacted by higher material, freight and selling and administrative expenses and one-time costs.

How did MEI’s cash flow and net debt change in fiscal 2027 Q1?

Net cash used in operating activities was $7.8 million, versus cash provided of $25.1 million a year ago, and free cash flow was an outflow of $10.9 million. Net debt increased to $194.3 million from $185.4 million, despite a $10.1 million net debt repayment.

What guidance did MEI reaffirm for fiscal 2027?

MEI reaffirmed fiscal 2027 guidance including net sales of $1,025–$1,075 million, interest expense of $20–$22 million, tax expense of $24–$26 million, D&A of $58–$62 million, Adjusted EBITDA of $72–$82 million, and capital expenditures of $25–$30 million.

How did MEI’s segments perform in fiscal 2027 Q1?

Automotive net sales were $105.7 million with a $11.7 million operating loss; Industrial net sales were $156.8 million with $31.6 million operating income; Interface net sales were $2.9 million with a $0.8 million operating loss, reflecting the dataMate divestiture and appliance roll-offs.

What changes did MEI make to its revolving credit facility after fiscal 2027 Q1?

Subsequent to quarter end, MEI amended its revolving credit agreement, extending certain maturities one year to October 2028 and reducing the facility size from $400 million to $375 million at closing.

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Available on EDGAR 09/02/2026 - 04:21 PM Accepted by SEC EDGAR 09/02/2026 - 04:21 PM Learn about SEC filing dates

false000006527000000652702026-09-022026-09-02

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 2, 2026

METHODE ELECTRONICS, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-33731	36-2090085
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
25650 West 11 Mile Rd
Southfield, Michigan				48034-2253
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (708) 867-6777

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.50 Par Value		MEI		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On September 2, 2026, Methode Electronics, Inc. (the “Company”) issued a press release announcing its financial results for its first quarter ended August 1, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Form 8-K and the Exhibit attached hereto pertaining to the Company’s financial results shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

d)Exhibits:

Exhibit Number		Description
99.1		Earnings Release of Methode Electronics, Inc. dated September 2, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Methode Electronics, Inc.
Date:	September 2, 2026	By:	/s/ Laura Kowalchik
			Laura Kowalchik Chief Financial Officer

Exhibit 99.1

Methode Electronics, Inc. Reports Fiscal 2027 First Quarter Financial Results

Continued transformation progress drove robust revenue growth and operational excellence gains

Consolidated Fiscal First Quarter 2027 Highlights

•Net sales of $265.4 million, up 10.4% year-over-year

•Net loss of $11.4 million, compared to $10.3 million in prior-year period

•Adjusted EBITDA of $13.7 million compared to $15.7 million in prior-year period

•Net repayment on debt of $10.1 million in the quarter reflecting disciplined balance sheet management

•Booked new non-data center awards totaling $75 million of peak annual revenue or ~$400 million of lifetime revenue

•Subsequent to quarter-end, amended revolving credit facility to extend certain maturities one year to October 2028

•The Company affirmed its fiscal 2027 guidance

Southfield, MI – September 2, 2026 – Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for power distribution, user interface, lighting, and sensor applications, today announced financial results for the first quarter of fiscal 2027 ended August 1, 2026.

President and Chief Executive Officer Jon DeGaynor said, "We delivered a strong start to fiscal 2027, with net sales up 10%, driven primarily by higher volumes across our industrial portfolio, led by data centers. However, one-time costs, including the impact of last year’s dataMate divestiture and our investments in talent and capabilities, more than offset the higher sales and operational improvements. Absent the impact of the divestiture, Adjusted EBITDA would have increased year-over-year."

Mr. DeGaynor continued, “We booked new non-data center awards representing $75 million of peak annual revenue, or approximately $400 million of lifetime revenue - proof of the commercial momentum we are building as our execution improvements continue to translate into results with customers. Our transformation is a multi-year effort, and progress won't always be linear, but I'm confident we have the right strategy and the right team in place to deliver sustainable, profitable growth and long-term value for our shareholders."

Consolidated Fiscal First Quarter 2027 Financial Results

Methode's net sales were $265.4 million, compared to $240.5 million in the same quarter of fiscal 2026. The increase was primarily driven by higher Industrial segment volumes and mix, partially offset by the impact of the sale of the dataMate business and consumer appliance program roll-offs.

Gross profit was $47.7 million, up from $43.5 million in the prior-year quarter, primarily reflecting higher Industrial sales volumes and mix as well as operational improvements across the business, partially offset by higher material and freight costs.

Selling and administrative expenses were $45.9 million, up from $36.6 million in the prior-year quarter, primarily reflecting investments in talent and capabilities as well as higher professional fees.

Loss from operations was $3.9 million, compared to income from operations of $1.1 million in the same quarter of fiscal 2026. Adjusted loss from operations, a non-GAAP financial measure, was $2.2 million, compared to adjusted income from operations of $2.0 million in the same quarter of fiscal 2026.

Income tax expense was $4.1 million, compared to $4.2 million in the same quarter of fiscal 2026.

Net loss was $11.4 million or $0.32 per diluted share, compared to $10.3 million or $0.29 per diluted share in the same quarter of fiscal 2026. Adjusted net loss, a non-GAAP financial measure, was $7.7 million or $0.22 per diluted share, compared to $7.8 million or $0.22 per diluted share in the same quarter of fiscal 2026.

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization of Intangibles), a non-GAAP financial measure, was $12.0 million or 4.5% of net sales, compared to $14.7 million or 6.1% of net sales in the same quarter of fiscal 2026. Adjusted EBITDA, a non-GAAP financial measure, was $13.7 million, or 5.2% of net sales, compared to $15.7 million, or 6.5% of net sales, in the same quarter of fiscal 2026.

Net cash used in operating activities was $7.8 million, compared to net cash provided by operating activities of $25.1 million in the same quarter of fiscal 2026. The increase in cash usage was primarily due to timing that resulted in higher accounts receivable and inventory levels. Free cash flow, a non-GAAP financial measure defined as net cash provided by operating activities less purchases of property, plant, and equipment, was an outflow of $10.9 million, compared to an inflow of $18.0 million in the same quarter of fiscal 2026.

Subsequent to quarter end, the Company completed an amendment to its revolving credit agreement, extending certain maturities one year to October 2028. As part of that extension, the Company reduced its revolving credit facility from $400 million to $375 million at closing.

Segment Fiscal First Quarter 2027 Financial Results

Comparing the Automotive segment’s quarter to the same quarter of fiscal 2026:

•Net sales were $105.7 million, down from $106.1 million. Net sales decreased $0.4 million or 0.4% largely due to lower sales volumes in EMEA and Asia, mostly offset by increased sales, including customer recoveries, in North America. Foreign exchange increased net sales by $0.6 million.

•Loss from operations was $11.7 million, or (11.1)% of Automotive segment net sales, compared to a loss of $12.5 million, or (11.8)% in the prior-year. Loss from operations narrowed primarily due to improved operating performance, partially offset by an increase in selling and administrative expenses.

Comparing the Industrial segment’s quarter to the same quarter of fiscal 2026:

•Net sales were $156.8 million, up from $123.5 million. Net sales increased $33.3 million or 27.0%, due to higher sales volumes for data center, on-highway and off-highway lighting products, including customer recoveries. Foreign currency translation increased net sales by $1.3 million.

•Income from operations was $31.6 million, or 20.2% of Industrial segment net sales, compared to $26.5 million. The increase was primarily due to higher sales volumes and mix, partially offset by higher material and freight costs.

Comparing the Interface segment’s quarter to the same quarter of fiscal 2026:

•Net sales were $2.9 million, down from $10.9 million. The decrease was primarily due to the divestiture of the dataMate business in the fourth quarter of fiscal 2026 and program roll-offs as the consumer appliance business winds down.

•Loss from operations was $0.8 million, or (27.6)% of Interface segment net sales, compared to income from operations of $3.0 million. The decrease was primarily due to lower sales volumes and product mix.

Guidance

For fiscal 2027, the Company affirmed its previous guidance expectation. The Company's fiscal 2027 guidance reflects its current expectations based on available market information, including third-party industry forecasts, customer demand projections, current U.S. tariff policies, and bank forecast currency. The guidance is subject to change due to a variety of factors including the uncertainty in the global trade environment (tariffs, import duties and other trade compliance regulations), geopolitical instability such as conflicts in the Middle East, the successful launch of multiple new programs, the ultimate take rates on EV programs, success and timing of cost recovery actions, inflation, global economic instability, supply chain disruptions, transformation and restructuring efforts, potential impairments, any acquisitions or divestitures, and legal matters.

Fiscal 2027	$ Millions
Net sales	$1,025-1,075
Interest expense	$20-22
Tax expense	$24-26
D&A	$58-62
Adjusted EBITDA	$72-82
Capital expenditures	$25-30

Adjusted EBITDA is a non-GAAP financial measure. In reliance on the safe harbor provided under Section 10(e) of Regulation S-K, the company has not quantitatively reconciled from net income/loss (the most comparable GAAP measure) to Adjusted EBITDA presented in the fiscal 2027 guidance as the company is unable to quantify certain amounts included in net income due to the inherent uncertainty regarding such variables which may be significant.

Conference Call

The company will conduct a conference call and webcast tomorrow, September 3, 2026, at 8:00 a.m. Eastern Time to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik.

To participate in the conference call, please dial 888-506-0062 (domestic) or 973-528-0011 (international) and provide participant code 335951, at least ten minutes prior to the start of the event. A simultaneous webcast can be accessed through the company’s website, www.methode.com, on the Investors page.

A webcast replay will also be available on the company’s website, www.methode.com, on the Investors page.

About Methode Electronics, Inc.

Methode Electronics, Inc. (NYSE: MEI) is a leading global supplier of custom engineered solutions with sales, engineering, and manufacturing locations in North America, Europe, the Middle East and Asia. We design, engineer, and manufacture mechatronic products for OEMs and tiered suppliers across mobility, industrial, and commercial markets. Our capabilities include power distribution, including busbars, smart connect systems, battery disconnect units, and integrated circuit boards; as well as user interface components, specialized light-emitting diode (“LED”) lighting solutions, and sensor applications.

Our products are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus, and rail), cloud computing and data center infrastructure, and construction equipment. Our business is managed on a segment basis, with those segments being Automotive, Industrial, and Interface.

Non-GAAP Financial Measures

To supplement the company's financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Methode uses Adjusted Net Income (Loss), Adjusted Earnings (Loss) Per Diluted Share, Adjusted Pre-Tax Income (Loss), Adjusted Income (Loss) from Operations, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Net Debt and Free Cash Flow as non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. Methode's definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. The company believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view Methode's performance using the same tools that management uses to evaluate its past performance, reportable business segments and prospects for future performance, (iii) are commonly used by other companies in our industry and provide a comparison for investors to the company’s performance versus its competitors and (iv) otherwise provide supplemental information that may be useful to investors in evaluating Methode.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect, when made, our current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to our operations and business environment, which may cause our actual results to be materially different from any future results, expressed or implied, by such forward-looking statements. All statements that address future operating, financial or business performance or our strategies or expectations are forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following:

•Dependence on the automotive, commercial vehicle, data center, and construction industries;

•Timing, quality and cost of new program launches;

•Changes in electric vehicle (“EV”) demand;

•Investment in programs prior to the recognition of revenue;

•Effects from production delays or cancelled orders;

•Changes in global trade policies, including tariffs, and other costs of our global business;

•Changes, expiration, or renegotiation of the United States Mexico Canada Agreement (“USMCA”);

•Failure to attract and retain qualified personnel;

•Effects from inflation;

•Dependence on the availability and price of materials;

•Dependence on a small number of large customers;

•Dependence on our supply chain;

•Risks related to conducting global operations;

•Risks related to geopolitical conflicts;

•Effects of potential catastrophic events or other business interruptions;

•Our ability to withstand pricing pressures, including price reductions;

•Our ability to compete effectively;

•Our lengthy sales cycle;

•Contracts with customers are not for guaranteed volumes;

•Risks related to our exposure to technological change, customer concentration, and cyclical demand in the data center market;

•Potential work stoppages;

•Our ability to successfully benefit from acquisitions and divestitures;

•Our ability to manage our debt levels and refinance or extend our credit agreement;

•Our ability to comply with restrictions and covenants under our credit agreement;

•Interest rate changes and variable rate instruments;

•Timing and magnitude of costs associated with restructuring activities;

•Recognition of goodwill, other intangible asset, and long-lived asset impairment charges;

•Risks associated with inventory;

•Currency fluctuations;

•Income tax rate fluctuations;

•Judgments related to accounting for tax positions;

•Our ability to realize the benefits from our deferred tax assets;

•Risks associated with litigation;

•Risks associated with government inquiries;

•Risks associated with warranty claims;

•Effects of changing government regulations;

•Changing requirements by stakeholders on environmental or social matters;

•Effects of information technology (“IT”) disruptions or cybersecurity incidents;

•Our ability to innovate and keep pace with technological changes; and

•Our ability to protect our intellectual property.

Additional details and factors are discussed under the caption “Risk Factors” in our periodic reports filed with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. Any forward-looking statements made by us speak only as of the date on which they are made. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, subsequent events or otherwise.

Contact Information

ir@methode.com

METHODE ELECTRONICS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

(in millions, except per-share data)

		Three Months Ended
		August 1, 2026				August 2, 2025
		(13 Weeks)				(13 Weeks)
Net sales		$	265.4			$	240.5
Cost of products sold			217.7				197.0
Gross profit			47.7				43.5
Selling and administrative expenses			45.9				36.6
Amortization of intangibles			5.7				5.8
Income (loss) from operations			(3.9	)			1.1
Interest expense, net			5.2				5.9
Other expense (income), net			(1.8	)			1.3
Pre-tax income (loss)			(7.3	)			(6.1	)
Income tax expense (benefit)			4.1				4.2
Net income (loss)		$	(11.4	)		$	(10.3	)
Income (loss) per share:
Basic		$	(0.32	)		$	(0.29	)
Diluted		$	(0.32	)		$	(0.29	)
Cash dividends per share		$	0.05			$	0.07

METHODE ELECTRONICS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in millions, except share and per-share data)

		August 1, 2026				May 2, 2026
ASSETS
Current assets:
Cash and cash equivalents		$	116.2			$	139.6
Accounts receivable, net			256.4				257.3
Inventories, net			184.6				178.7
Income tax receivable			2.9				3.2
Prepaid expenses and other current assets			24.3				21.2
Total current assets			584.4				600.0
Long-term assets:
Property, plant and equipment, net			202.9				209.3
Goodwill			173.5				174.9
Other intangible assets, net			211.4				218.9
Operating lease right-of-use assets, net			19.4				20.5
Deferred tax assets			39.1				39.5
Pre-production costs			16.0				18.2
Other long-term assets			17.0				24.8
Total long-term assets			679.3				706.1
Total assets		$	1,263.7			$	1,306.1
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	136.9			$	134.1
Accrued employee liabilities			36.3				49.1
Other accrued liabilities			44.8				45.6
Short-term operating lease liabilities			8.9				8.9
Short-term debt			0.2				0.2
Income tax payable			15.2				15.6
Total current liabilities			242.3				253.5
Long-term liabilities:
Long-term debt			310.3				324.8
Long-term operating lease liabilities			13.8				14.8
Other long-term liabilities			5.2				5.8
Deferred tax liabilities			29.0				29.7
Total long-term liabilities			358.3				375.1
Total liabilities			600.6				628.6
Shareholders' equity:
Common stock, $0.50 par value, 100,000,000 shares authorized, 36,841,566 shares and 36,806,583 shares issued as of August 1, 2026 and May 2, 2026, respectively			18.4				18.4
Additional paid-in capital			202.2				200.1
Accumulated other comprehensive loss			(11.4	)			(8.8	)
Treasury stock, 1,346,624 shares as of August 1, 2026 and May 2, 2026			(11.5	)			(11.5	)
Retained earnings			465.4				479.3
Total shareholders' equity			663.1				677.5
Total liabilities and shareholders' equity		$	1,263.7			$	1,306.1

METHODE ELECTRONICS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

		Three Months Ended
		August 1, 2026				August 2, 2025
		(13 Weeks)				(13 Weeks)
Operating activities:
Net income (loss)		$	(11.4	)		$	(10.3	)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization			14.1				14.9
Stock-based compensation expense			2.1				1.2
Amortization of debt issuance costs			0.4				0.3
Partial write-off of unamortized debt issuance costs			—				0.6
Gain on sale of property, plant and equipment			—				(0.5	)
Inventory obsolescence			2.7				1.7
Change in deferred income taxes			(0.8	)			0.5
Other			0.1				(1.0	)
Changes in operating assets and liabilities:
Accounts receivable, net			(0.7	)			28.3
Inventories, net			(9.3	)			2.8
Prepaid expenses and other assets			8.0				6.2
Accounts payable			1.7				(6.2	)
Other liabilities			(14.7	)			(13.4	)
Net cash provided (used) by operating activities			(7.8	)			25.1
Investing activities:
Purchases of property, plant and equipment			(3.1	)			(7.1	)
Proceeds from disposition of assets			—				1.3
Net cash provided (used) by investing activities			(3.1	)			(5.8	)
Financing activities:
Taxes paid related to net share settlement of equity awards			(0.3	)			(0.4	)
Repayments of finance leases			(0.1	)			(0.1	)
Debt issuance costs			—				(1.6	)
Cash dividends			(1.8	)			(2.8	)
Proceeds from borrowings			10.0				78.5
Repayments of borrowings			(20.1	)			(78.1	)
Net cash provided (used) by financing activities			(12.3	)			(4.5	)
Effect of foreign currency exchange rate changes on cash and cash equivalents			(0.2	)			2.7
Increase (decrease) in cash and cash equivalents			(23.4	)			17.5
Cash and cash equivalents at beginning of the period			139.6				103.6
Cash and cash equivalents at end of the period		$	116.2			$	121.1
Supplemental cash flow information:
Cash paid during the period for:
Interest		$	5.0			$	4.8
Income taxes, net of refunds		$	4.4			$	5.7
Operating lease obligations		$	2.4			$	2.2

METHODE ELECTRONICS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP MEASURES (unaudited)

(in millions)

		Three Months Ended
		August 1, 2026				August 2, 2025
		(13 Weeks)				(13 Weeks)
EBITDA:
Net income (loss)		$	(11.4	)		$	(10.3	)
Income tax expense			4.1				4.2
Interest expense, net			5.2				5.9
Amortization of intangibles			5.7				5.8
Depreciation			8.4				9.1
EBITDA			12.0				14.7
Partial write-off of unamortized debt issuance costs			—				0.6
Restructuring costs and asset impairment charges			0.6				0.9
Net gain on sale of non-core assets			—				(0.5	)
Transaction cost and other strategic costs			1.1				—
Adjusted EBITDA		$	13.7			$	15.7
EBITDA as a % of net sales			4.5	%			6.1	%
Adjusted EBITDA as a % of net sales			5.2	%			6.5	%

		Three Months Ended
		August 1, 2026				August 2, 2025
		(13 Weeks)				(13 Weeks)
Free Cash Flow:
Net cash provided (used) by operating activities		$	(7.8	)		$	25.1
Purchases of property, plant and equipment			(3.1	)			(7.1	)
Free cash flow		$	(10.9	)		$	18.0

		August 1, 2026				May 2, 2026
Net Debt:
Short-term debt		$	0.2			$	0.2
Long-term debt			310.3				324.8
Total debt			310.5				325.0
Less: cash and cash equivalents			(116.2	)			(139.6	)
Net debt		$	194.3			$	185.4

METHODE ELECTRONICS, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP MEASURES (unaudited)

(in millions, except per share data)

		Three Months Ended
		August 1, 2026 (13 Weeks)																August 2, 2025 (13 Weeks)
		Income (loss) from operations				Pre-tax income (loss)				Net income (loss)				Diluted income (loss) per share				Income (loss) from operations				Pre-tax income (loss)				Net income (loss)				Diluted income (loss) per share
U.S. GAAP (as reported)		$	(3.9	)		$	(7.3	)		$	(11.4	)		$	(0.32	)		$	1.1			$	(6.1	)		$	(10.3	)		$	(0.29	)
Restructuring costs and asset impairment charges			0.6				0.6				0.5			$	0.01				0.9				0.9				0.7			$	0.02
Partial write-off of unamortized debt issuance costs			—				—				—			$	—				—				0.6				0.5			$	0.01
Net gain on sale of non-core assets			—				—				—			$	—				—				(0.5	)			(0.4	)		$	(0.01	)
Transaction cost and other strategic costs			1.1				1.1				0.8			$	0.02				—				—				—			$	—
Valuation allowance on deferred tax assets			—				—				2.4			$	0.07				—				—				1.7			$	0.05
Non-U.S. GAAP (adjusted)		$	(2.2	)		$	(5.6	)		$	(7.7	)		$	(0.22	)		$	2.0			$	(5.1	)		$	(7.8	)		$	(0.22	)

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