Methode Electronics Q3 Adj. EPS $(0.33) Misses $0.09 Estimate, Sales $259.50M Miss $287.80M Estimate
Portfolio Pulse from Benzinga Newsdesk
Methode Electronics (NYSE:MEI) reported a significant miss in its Q3 earnings, with an adjusted EPS of $(0.33), missing the $0.09 estimate by 466.67%. Year-over-year, this represents a 161.11% decrease from an EPS of $0.54. Quarterly sales were $259.50M, missing the $287.80M estimate by 9.83%, and marking a 7.35% decrease from $280.10M in the same period last year.
March 07, 2024 | 12:01 pm
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Methode Electronics reported a significant miss in Q3 earnings and sales, with adjusted EPS at $(0.33) versus the $0.09 estimate and sales at $259.50M versus the $287.80M estimate.
The significant miss in both earnings per share and sales compared to analyst estimates, along with a substantial year-over-year decrease, is likely to negatively impact investor sentiment and the stock price of Methode Electronics in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100