secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2024-07-11T23:59:59+00:00
Accession:  0000950170-24-082851
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics Q4 net loss $57.3M, goodwill impairment $49.4M; guidance cautious
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- Net sales $277.3M vs $301.2M YoY; adjusted EPS loss $0.23 vs $0.22 gain.
- Automotive segment sales down 21.6% to $145.9M; $49.4M goodwill impairment in North America.
- Appointed David Rawden as interim CFO effective July 12, 2024 upon Tsoumas retirement.
- Fiscal 2025 outlook: flat organic sales, near breakeven pre-tax; Q1 similar to Q4 FY2024 loss.
- New $200M share buyback authorized through June 2026; prior program expired.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017024082851/0000950170-24-082851-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017024082851/mei-20240708.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-082851

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