Methode Electronics Q2 Adj EPS $0.06 Misses $0.12 Estimate, Sales $288.00M Miss $292.82M Estimate
Portfolio Pulse from Benzinga Newsdesk
Methode Electronics (NYSE:MEI) reported Q2 adjusted earnings of $0.06 per share, missing the consensus estimate of $0.12 by 50%. Quarterly sales were $288.00M, falling short of the $292.82M estimate and marking an 8.83% decrease from the same period last year.
December 07, 2023 | 12:02 pm
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Methode Electronics reported lower-than-expected Q2 earnings and sales, missing estimates and showing a decline from the previous year.
Missing both earnings and revenue estimates typically leads to negative investor sentiment in the short term. The significant miss on earnings (50%) and the year-over-year decline in sales (8.83%) are likely to be viewed unfavorably by the market, potentially leading to a decrease in stock price.
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IMPORTANCE 90
RELEVANCE 100