Earnings ·
Methode Electronics reported a net loss of $11.4 million, or $0.32 per diluted share, for the first quarter ended…
MEIMethode Electronics Inc
Methode Electronics reported a net loss of $11.4 million, or $0.32 per diluted share, for the first quarter ended August 1, 2026, compared to a $10.3 million loss in the prior-year period. Net sales increased 10.4% year-over-year to $265.4 million, driven by higher volumes in the Industrial segment, particularly data center products. Adjusted EBITDA declined to $13.7 million from $15.7 million due to one-time costs related to the dataMate divestiture and investments in talent. The company booked new non-data center awards totaling approximately $400 million of lifetime revenue and affirmed its fiscal 2027 guidance for net sales between $1,025 million and $1,075 million. Additionally, Methode amended its revolving credit facility to extend certain maturities to October 2028 and reduced the facility size from $400 million to $375 million. Methode Electronics is a global supplier of custom-engineered mechatronic solutions for power distribution, user interfaces, lighting, and sensors across automotive, industrial, and commercial markets.