secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2024-09-05T23:59:59+00:00
Accession:  0000950170-24-103734
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics Q1 net loss $0.52/sh; affirms FY2025 guidance
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- Net sales $258.5M, down 10.8% YoY; pre-tax loss $13.1M, adjusted pre-tax loss $9.1M.
- Net loss $18.3M ($0.52/sh) vs net income $0.9M ($0.02/sh) prior year; adjusted net loss $0.31/sh.
- Automotive segment sales fell 14.8% to $134.8M on EV lighting program roll-off; Industrial segment down 3.4%.
- CFO Laura Kowalchik appointed effective Oct 1, 2024, replacing interim CFO David Rawden.
- Guidance affirmed: FY2025 net sales flat vs FY2024, adjusted pre-tax approaching breakeven; FY2026 expected positive.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017024103734/0000950170-24-103734-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017024103734/mei-20240905.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-103734

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