TECH - OEM Supplier Methode Electronics Q4 Earnings: Revenue Beat EPS Miss CEO Transition And More | Benzinga
Custom-engineered solutions provider Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million.
Lower Automotive segment sales in all geographic regions and unfavorable foreign currency translation led to a sales decrease for the quarter.
Adjusted EPS loss of $0.23 missed the analyst consensus loss estimate of $0.20. The stock price climbed after the print.
Segments: Automotive segment’s net sales were $145.9 million, down from $186.2 million primarily due to lower volume in Asia and Europe. Net sales for the Industrial segment were $117.2 million, up from $98.0 million driven by the acquisition of ...