Methode Electronics reports preliminary FY2022 EPS $2.68-2.72, below guidance of $3.05-3.15

METHODE ELECTRONICS INC

2022-FY EPS reported $2.70 revenue$1,163,600,000

Preliminary FY2022 net sales ~$1,164M (+7% YoY), within prior guidance of $1,160-1,170M.
Diluted EPS expected $2.68-2.72, below prior guidance of $3.05-3.15 due to China COVID lockdowns, Ukraine conflict, and supply chain cost headwinds.
FY2023 guidance: net sales $1,160-1,210M, diluted EPS $2.70-3.10; subject to COVID, chip shortages, and geopolitical risks.
CEO cites record fifth consecutive year of sales growth but short-term earnings headwinds; strong balance sheet to navigate environment.

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