NYSE$MEI
Methode Electronics Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Methode reported strong Q4 sales led by lighting and power distribution solutions, with EV application sales reaching a record.
Methode Electronics reported a 4.3% increase in net sales to $301.2 million for Q4 2023. Net income was $8.1 million, or $0.22 per diluted share. The company secured program awards exceeding $250 million, with over 80% in EV applications.
- Net sales reached $301.2 million.
- Electric and hybrid vehicle applications accounted for 23% of net sales, marking a record.
- Net income was $8.1 million, or $0.22 per diluted share.
- Over $250 million in program awards were secured, with over 80% in EV applications.
Headline financials
Revenue & EPS history
Methode · Revenue · Quarterly
$301M
Revenue by segment
Methode · $300M total across 3 segments · Q4 2023
- Automotive$186M-4.2%62.1%
- Industrial$98M+24.2%32.7%
- Interface$15.8M+13.7%5.3%
Forward guidance
For fiscal 2024, the company expects net sales to be in the range of $1,150 to $1,200 million and diluted earnings per share to be in a range of $1.55 to $1.75. For fiscal 2025, the company expects net sales to be in the range of $1,250 to $1,350 million and income from operations as a percentage of net sales to be in a range of 11% to 12%.
Tailwinds
- Expected positive financial impact from the recent Nordic Lights Group Corporation acquisition
- Strong award pipeline
- Expected rebound in the commercial vehicle market
- Expected rebound in the data center market
- Expected rebound in the e-bike markets
Headwinds
- Additional costs to support new program launches
- Impact from program roll offs
- Market headwinds in the higher margin Industrial segment
- Supply chain disruptions
- Inflation
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2023
-1.1%
Avg return
Earnings day
-3.2%
Avg return
5 days after
-6.2%
Avg return
30 days after
46%
30 / 65 earnings
Positive
+46.2%
Q4 2024
Best reaction
-32.9%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | — | — | — | |
| Q3 2026 | -12.6% | -22.3% | -22.5% | |
| Q2 2026 | -11.2% | -21.5% | -22.9% | |
| Q1 2026 | +12.8% | +9.1% | -7.8% | |
| Q4 2025 | +0.1% | -2.2% | -27.2% | |
| Q3 2025 | -28.9% | -34.7% | -41.1% | |
| Q2 2025 | +9.6% | +12.6% | +5.9% | |
| Q1 2025 | -3.2% | -3.0% | +10.1% | |
| Q4 2024 | +46.2% | +47.1% | +7.2% | |
| Q3 2024 | -32.9% | -37.0% | -42.8% | |
| Q2 2024 | -11.8% | -12.6% | -14.0% | |
| Q1 2024 | -22.2% | -24.1% | -21.8% | |
| Q4 2023 | -12.7% | -15.3% | -25.0% | |
| Q3 2023 | -9.8% | -11.7% | -12.4% | |
| Q2 2023 | +10.0% | +5.5% | -2.9% | |
| Q1 2023 | -2.8% | -4.9% | -8.2% | |
| Q4 2022 | -0.1% | -10.9% | -18.5% | |
| Q3 2022 | -5.3% | -7.8% | -5.0% | |
| Q2 2022 | +0.9% | +1.3% | +9.7% | |
| Q1 2022 | -10.3% | -8.2% | -8.7% | |
| Q4 2021 | +1.9% | +2.3% | -4.3% | |
| Q3 2021 | +5.6% | +10.6% | +6.6% | |
| Q2 2021 | +5.0% | +6.4% | +7.1% | |
| Q1 2021 | -2.4% | -4.8% | -4.8% | |
| Q4 2020 | -7.5% | -6.0% | -6.8% | |
| Q3 2020 | +2.0% | -4.3% | -15.8% | |
| Q2 2020 | +14.3% | +13.5% | +8.6% | |
| Q1 2020 | +11.7% | +11.2% | +19.6% | |
| Q4 2019 | -1.2% | +0.6% | +7.8% | |
| Q3 2019 | +6.0% | +9.6% | +7.5% | |
| Q2 2019 | -23.0% | -24.8% | -22.8% | |
| Q1 2019 | -2.3% | -1.5% | -10.8% | |
| Q4 2018 | -11.2% | -8.4% | -13.5% | |
| Q3 2018 | +1.0% | +1.1% | -0.9% | |
| Q2 2018 | -7.3% | -12.1% | -9.3% | |
| Q1 2018 | +0.9% | -2.1% | +7.1% | |
| Q4 2017 | +4.8% | +5.3% | +4.8% | |
| Q3 2017 | +2.7% | +0.8% | +5.2% | |
| Q2 2017 | +9.2% | +9.4% | +5.3% | |
| Q1 2017 | -3.7% | -2.8% | -4.6% | |
| Q4 2016 | +6.0% | +6.6% | +15.2% | |
| Q3 2016 | -1.3% | — | — | |
| Q2 2016 | -8.0% | — | — | |
| Q1 2016 | +17.3% | — | — | |
| Q4 2015 | -29.4% | — | — | |
| Q3 2015 | +6.1% | — | — | |
| Q2 2015 | -16.7% | — | — | |
| Q1 2015 | +19.0% | — | — | |
| Q4 2014 | +11.4% | — | — | |
| Q3 2014 | -14.9% | — | — | |
| Q2 2014 | +43.4% | — | — | |
| Q1 2014 | +35.5% | — | — | |
| Q4 2013 | +10.1% | — | — | |
| Q3 2013 | +5.2% | — | — | |
| Q2 2013 | -6.7% | — | — | |
| Q1 2013 | +4.9% | — | — | |
| Q4 2010 | +7.6% | — | — | |
| Q4 2012 | +7.6% | — | — | |
| Q3 2012 | -2.6% | — | — | |
| Q3 2011 | -2.6% | — | — | |
| Q2 2011 | -6.9% | — | — | |
| Q2 2012 | -6.9% | — | — | |
| Q1 2011 | -18.3% | — | — | |
| Q1 2012 | -18.3% | — | — | |
| Q4 2011 | -18.3% | — | — | |
| Q3 2010 | -16.6% | — | — |
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