MEI Methode Electronics, Inc.

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Executive Summary

Methode Electronics reported Q3 FY26 net sales of $233.7 million, down 2.6% year-over-year, with a net loss of $15.9 million. The company lowered its full-year adjusted EBITDA guidance to $58–62 million and completed the sale of its dataMate business for $16 million as part of its portfolio simplification strategy. Results were hurt by automotive segment weakness and operational challenges, despite strong industrial segment performance.

Key Financial Metrics

Actionable Insight

Key Facts

• Q3 net sales were $233.7 million, down 2.6% YoY from $239.9 million
• Net loss was $15.9 million ($0.45 per share), compared to $14.4 million ($0.41) in the prior-year quarter
• Adjusted EBITDA was $7.3 million (3.1% margin), down from $12.3 million (4.8%) in the same quarter last year
• Company lowered full-year adjusted EBITDA guidance to $58–62 million
• Narrowed full-year sales guidance to $950M–$1B, from prior $900M–$1B range
• Closed sale of dataMate business post-quarter for $16 million
• Automotive segment sales fell 8.2% to $106.2 million; Industrial segment rose 9.5% to $122.5 million
• Free cash flow was $10.1 million, down from $19.6 million in the prior-year quarter

Financial Impact

Revenue down $6.2M YoY, adjusted EBITDA down $5M YoY, full-year EBITDA guidance reduced by ~$10M midpoint

Risk Factors

• Continued automotive EV volume declines and Mexico operational issues
• Downside to EBITDA guidance if restructuring benefits are delayed
• Execution risk in new program launches and cost recovery

Market Snapshot

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

US Market Status