secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2022-03-03T23:59:59+00:00
Accession:  0001564590-22-008402
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics Q3 EPS $0.78, sales $291.6M; raises FY sales guidance, EV sales record 19%
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- Net sales $291.6M (-1.3% YoY); net income $29.4M ($0.78 diluted EPS) vs $31.9M ($0.83) prior year.
- Record EV/hybrid sales at 19% of sales; new program awards >$100M annual sales, ~70% EV.
- $21.3M share buybacks in quarter (460K shares); $71.2M total under $100M authorization.
- FY2022 guidance: sales raised to $1,160-$1,170M; EPS narrowed to $3.05-$3.15.
- Automotive segment sales down 7.2% on Europe semiconductor shortages; Industrial up 20.3%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000156459022008402/0001564590-22-008402-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000156459022008402/mei-8k_20220303.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-008402

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