Methode Electronics Q1 Adj EPS $0.06 Misses $0.23 Estimate, Sales $289.70M Beat $287.75M Estimate
Portfolio Pulse from Benzinga Newsdesk
Methode Electronics (NYSE:MEI) reported Q1 earnings of $0.06 per share, missing the analyst consensus estimate of $0.23 by 73.91%. This is a 89.66% decrease from the same period last year. However, the company reported quarterly sales of $289.70 million, beating the analyst consensus estimate of $287.75 million by 0.68%. This is a 2.58% increase from the same period last year.
September 07, 2023 | 11:01 am
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NEGATIVE IMPACT
Methode Electronics' Q1 earnings significantly missed estimates, but sales slightly exceeded expectations.
Methode Electronics' earnings miss is significant and could negatively impact investor sentiment, potentially leading to a short-term decrease in the stock price. However, the sales beat could partially offset this negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100