Methode Electronics Inc reports results for the quarter ended in July 31 - Earnings Summary

Methode Electronics

05/09/2024 14:31

* Methode Electronics Inc  MEI.N  reported a quarterly
adjusted
loss of 31 cents​​ per share for the quarter ended July 31,
lower than the same quarter last year, when the company reported
EPS of 2 cents.  The mean expectation of three analysts for the
quarter was for a loss of 30 cents per share. Wall Street
expected results to range from -39 cents to -23 cents per share.
    * Revenue fell 10.8% to $258.50 million from a year ago;
analysts
expected $264.65 million. 
    * Methode Electronics Inc's reported EPS for the quarter was
a
loss of 52 cents​.
    * The company reported a quarterly loss of $18.3 million.
    * Methode Electronics Inc shares had fallen by 2.8% this
quarter and lost 55.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 594.6% in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "hold"

Wall Street's median 12-month price target for Methode
Electronics Inc is $14.00 
This summary was machine generated from LSEG data September 5 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jul. 31 2024      -0.30          -0.31          Missed
 Apr. 30 2024      -0.20          -0.23          Missed
 Jan. 31 2024      0.09           -0.33          Missed
 Oct. 31 2023      0.13           0.05           Missed