Methode Q4 EPS $0.22 vs $0.43 YoY; FY2024 guidance $1.55-$1.75, below FY2023 $2.10

METHODE ELECTRONICS INC

2023-FY EPS reported $2.10 revenue$1,179,600,000

Q4 net sales $301.2M (+4.3% YoY); net income $8.1M ($0.22 diluted) vs $16.2M ($0.43) prior year.
Record EV application sales at 23% of sales; $250M+ in new program awards, 80% EV.
Industrial segment sales $98.0M (+24.2%); operating margin 23.9% vs 13.2%.
Nordic Lights acquisition 99.4% complete for EUR 131M; expected to close in Q2 FY2024.
FY2024 guidance: sales $1,150-$1,200M, EPS $1.55-$1.75; FY2025: sales $1,250-$1,350M, op margin 11-12%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

METHODE ELECTRONICS INC reported fourth quarter of fiscal 2023 ended April 29, 2023 results: revenue $301.2 million, net income $8.1 million, EPS $0.22 per diluted share.

Period: fourth quarter of fiscal 2023 ended April 29, 2023
Revenue: $301.2 million
Net income: $8.1 million
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

applications, today announced financial results for the fourth quarter and full year of fiscal 2023 ended April 29, 2023. Fiscal Fourth Quarter 2023 Highlights • Net sales were $301.2 million • Electric and hybrid vehicle applications were 23 percent of net sales, a record on a dollar basis • Net income was $8.1 million, or $0.22 per diluted share • Net cash provided

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

METHODE ELECTRONICS INC reported financial results for fiscal year ended April 29, 2023.

Period: fiscal year ended April 29, 2023
Result: reported results

Exact text from the filing

On June 22, 2023, Methode Electronics, Inc. (the “Company”) issued a press release announcing its financial results for its fourth quarter and fiscal year ended April 29, 2023.

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Source: SEC EDGAR

accession 0000950170-23-029284

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