Methode Electronics Q3: Mixed Results, Optimistic Outlook

Methode Electronics reported Q3 earnings of $246.9M, beating estimates but saw a 15.6% sales drop. Despite a $0.19 non-GAAP loss per share and a 6.2% stock drop, the company reaffirmed $950M full-year revenue guidance and set EBITDA at $75M, above expectations. The President and CEO, Jon DeGaynor, praised the teams progress and commitment, focusing on improving execution and reliability. While operating margin decreased and free cash flow improved, analysts remain optimistic, predicting a full-year earnings per share of $0.41 for the next year.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.