Methode Electronics Q3 sales fall 2.6%, narrows FY26 guidance

Methode Electronics

05/03/2026 21:39

Overview

Custom-engineered solutions provider's Q3 net sales fell 2.6% yr/yr

Company narrowed FY26 sales guidance and lowered adjusted EBITDA guidance

Company finalized sale of Harwood Heights facility and closed on sale of dataMate business

Outlook

Methode Electronics narrows FY26 sales guidance to $950 mln-$1 bln

Company lowers FY26 adjusted EBITDA guidance to $58 mln-$62 mln

Foreign currency expected to provide $30 mln tailwind for FY26

Result Drivers

AUTOMOTIVE DISRUPTIONS - Industry-wide disruptions and challenges in Mexico impacted Automotive segment sales

INDUSTRIAL SEGMENT GROWTH - Higher sales volumes for lighting and power products boosted Industrial segment

Company press release: ID:nGNX8XfNnl

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$233.70 mln
$221.20 mln (2 Analysts)
Q3 Net Income
-$15.90 mln


Analyst Coverage

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 "buy"

Wall Street's median 12-month price target for Methode Electronics Inc is $9.25, about 10.4% above its March 4 closing price of $8.38

The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 50 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)