Methode Electronics Reports Q1 Fiscal 2027 Results with Industrial Growth
Methode Electronics (NYSE:MEI) reported first-quarter fiscal 2027 sales of $265.4 million, a 10.4% increase year-over-year driven by strong performance in the industrial segment. The company saw a 27% rise in industrial revenue due to demand for data-center power distribution and off-road lighting solutions. Despite higher sales volume, Methode posted an adjusted net loss of $7.7 million or $0.22 per diluted share, with adjusted EBITDA declining to $13.7 million from $15.7 million in the prior year period. The company is undergoing operational restructuring efforts including cost reductions and facility consolidation across its global footprint. Management reaffirmed full-year guidance for sales between $1.025 billion–$1.075 billion and adjusted EBITDA of $72 million–$82 million in fiscal 2027, citing new awards worth approximately $400 million primarily related to hybrid vehicles.
Tickers: $MEI
Topics: EBITDA financial results operational restructuring sales growth