Methode Electronics Posts Loss In Q1

(RTTNews) - Methode Electronics, Inc. (MEI) posted a first quarter net loss of $18.3 million or $0.52 per share, compared to net income of $0.9 million or $0.02 per share in the same quarter of fiscal 2024. Adjusted net loss was $10.9 million, or $0.31 per share, compared to adjusted net income of $2.0 million or $0.06 per share. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.30 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $258.5 million, compared to $289.7 million in the same quarter of fiscal 2024. Analysts expected revenue of $264.65 million for the quarter.

For fiscal 2025, the company affirmed guidance for net sales to be similar to fiscal 2024 and adjusted pre-tax income to be approaching breakeven. For fiscal 2026, the company affirmed expectation for net sales to be greater than fiscal 2025 and pre-tax income to be positive and notably greater than fiscal 2025.

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