secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2023-06-22T23:59:59+00:00
Accession:  0000950170-23-029284
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017023029284/0000950170-23-029284-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017023029284/mei-20230622.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-029284

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