secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2022-12-01T23:59:59+00:00
Accession:  0000950170-22-025914
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics reports record Q2 sales $315.9M, EPS $0.75; narrows FY2023 guidance
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- Record net sales $315.9M, up 6.9% YoY; net income $27.6M ($0.75 EPS) vs $27.5M ($0.72) prior year.
- Industrial segment record sales $103.8M (+28.6% YoY); Automotive sales flat at $196.9M.
- Purchased 508,179 shares for $19.7M; total buyback $102.8M of $200M program.
- FY2023 guidance: sales $1,170-1,200M (narrowed from $1,160-1,210M), EPS $2.70-2.90 (narrowed from $2.70-3.10).
- EBITDA $46.1M vs $47.4M; free cash flow $7.0M vs $21.6M prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017022025914/0000950170-22-025914-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017022025914/mei-20221201.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-025914

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