Methode Electronics Cuts FY25 Net Sales Outlook From $1.25B-$1.35B To $1.15B-$1.25B Due To Expected Customer Delays With EV Programs And Program Roll Offs
Portfolio Pulse from Benzinga Newsdesk
Methode Electronics has reduced its FY25 net sales forecast from $1.25B-$1.35B to $1.15B-$1.25B, citing expected delays from customers with EV programs and program roll offs.
December 07, 2023 | 12:18 pm
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Methode Electronics has lowered its FY25 revenue projections, which could negatively impact investor sentiment and stock price in the short term.
The reduction in Methode Electronics' future revenue guidance is a negative signal to investors, often leading to a decrease in stock price as it reflects potential challenges in the company's business, particularly in the EV sector which is currently a significant growth area.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100