Methode Electronics Q1 net sales up 51% to $287.8M; EPS $0.76 vs $0.54 YoY

METHODE ELECTRONICS INC

2021-Q1 EPS reported $0.76 revenue$287,800,000

Net income $29.1M ($0.76 diluted EPS) vs $20.7M ($0.54) in prior-year quarter; income from operations up 147% to $34.1M.
Automotive segment sales rose 56.5% to $195.8M; Industrial segment sales up 51.0% to $78.5M.
Electric and hybrid vehicle applications were 16% of net sales; company sees continued EV product growth.
Quarterly dividend increased from $0.11 to $0.14 per share; $7.6M spent on share repurchases (157,513 shares).
Fiscal 2022 guidance reaffirmed: net sales $1,175–$1,235M and diluted EPS $3.35–$3.75, subject to supply chain risks.

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