secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2022-09-01T23:59:59+00:00
Accession:  0000950170-22-018003
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics Q1 EPS $0.58 vs $0.76 YoY; revenue $282.4M -1.9%; reiterates FY23 guidance
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- Net income of $21.5M ($0.58 diluted EPS) vs $29.1M ($0.76) in prior year quarter.
- Revenue $282.4M, down 1.9% YoY; unfavorable FX impact of $14.2M partially offset by $11.1M cost recovery.
- Industrial segment sales record $92.1M (+17.3% YoY); Automotive segment fell 9.8% to $176.6M.
- Reaffirmed FY2023 guidance: sales $1.16-1.21B, EPS $2.70-3.10.
- Repurchased 317,635 shares for $11.9M during Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017022018003/0000950170-22-018003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017022018003/mei-20220901.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-018003

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