---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-006837"
form_type: "8-K"
ticker: "MEI"
cik: "0000065270"
company_name: "METHODE ELECTRONICS INC"
filed_at: "2023-03-09T23:59:59+00:00"
generated_at: "2026-06-18T07:53:23.073827+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Methode Q3 EPS $0.54 vs $0.78 YoY; guides FY2023 lower; announces Nordic Lights tender

## Summary
- Net sales $280.1M (-3.9% YoY); net income $19.9M ($0.54 diluted EPS) vs $29.4M ($0.78) prior year.
- Record EV/HEV sales at 24% of total; Industrial segment sales up 13.8% on power distribution for EVs and data centers.
- Full-year FY2023 guidance revised: net sales $1,155-$1,180M (from $1,170-$1,200M); EPS $2.50-$2.60 (from $2.70-$2.90).
- Announced public tender offer for Nordic Lights Group at EUR 6.30/share (~EUR 132M equity value); expected close H2 2023.
- Free cash flow $42.9M vs $11.8M a year ago; repurchased 179,700 shares for $8.0M in the quarter.

## SEC filing metadata
- accession: 0000950170-23-006837
- form_type: 8-K
- ticker: MEI
- cik: 0000065270
- company_name: METHODE ELECTRONICS INC
- filed_at: 2023-03-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/65270/000095017023006837/0000950170-23-006837-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/65270/000095017023006837/mei-20230309.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-006837
- JSON: https://secwatch.observer/filing/0000950170-23-006837.json
- Plain text: https://secwatch.observer/filing/0000950170-23-006837.txt

## Key facts
- Earnings Releases
  METHODE ELECTRONICS INC reported third quarter ended January 28, 2023 results: revenue $280.1 million, net income $19.9 million, EPS $0.54 per diluted share.
  - Period: third quarter ended January 28, 2023
  - Revenue: $280.1 million
  - Net income: $19.9 million
  - EPS: $0.54 per diluted share
  - Result: reported results
  source text: distribution applications, today announced financial results for the third quarter of fiscal 2023 ended January 28, 2023. Fiscal Third Quarter 2023 Highlights • Net sales were $280.1 million, of which electric and hybrid vehicle applications were a record 24 percent • Compared to the third quarter of fiscal 2022, net sales were down 3.9%. Excluding foreign currency
  evidence_url: https://www.sec.gov/Archives/edgar/data/65270/000095017023006837/0000950170-23-006837-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.