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

Methode Electronics

07/12/2023 14:31

* Methode Electronics Inc  MEI.N  reported quarterly
adjusted
earnings of 5 cents​​ per share for the quarter ended in
October, lower than the same quarter last year, when the company
reported EPS of 75 cents.  The mean expectation of two analysts
for the quarter was for earnings of 13 cents per share. Wall
Street expected results to range from 12 cents to 13 cents per
share.
    * Revenue fell 8.8% to $288.00 million from a year ago;
analysts
expected $292.82 million. 
    * Methode Electronics Inc's reported EPS for the quarter was
a
loss of $1.55​.
    * The company reported a quarterly loss of $55.3 million.
    * Methode Electronics Inc shares had risen by 6.7% this
quarter and lost 45.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 61.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Methode
Electronics Inc is $39.00 
This summary was machine generated from LSEG data December 7 at
02:31 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
 Oct. 31 2023      0.13           0.05           Missed
 Jul. 31 2023      0.23           0.02           Missed
 Apr. 30 2023      0.46           0.22           Missed
 Jan. 31 2023      0.70           0.54           Missed