Methode Electronics, Inc. Sees FY24 Revenue $1.15B-$1.2B Vs $1.21B Est.; EPS $1.55-$1.75 Vs $2.58 Est. Sees FY25 Revenue $1.25B-$1.35B
Portfolio Pulse from Benzinga Newsdesk
Methode Electronics forecasts lower-than-expected revenues and EPS for FY24 and FY25. The company cites additional costs, program roll-offs, market headwinds, and the early sunsetting of an EV program as reasons for the lower guidance.
June 12, 2023 | 8:19 pm
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Methode Electronics' lower-than-expected FY24 and FY25 guidance may negatively impact its stock price in the short term.
Methode Electronics' lower-than-expected guidance for FY24 and FY25 is likely to disappoint investors, leading to a potential decline in the stock price. The company cites additional costs, program roll-offs, market headwinds, and the early sunsetting of an EV program as reasons for the lower guidance, which may raise concerns about the company's growth prospects.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100