The company posted a fiscal first-quarter loss of $11.4 million, or 32 cents per share, widening from the $10.3 million loss recorded during the same period last year. On an adjusted basis, the loss of 22 cents per share missed the 20-cent target set by analysts polled by FactSet.
In section Market Quotes
Methode Electronics Shares Slide Despite Revenue Growth
A 15% pre-market plunge greeted Methode Electronics on Thursday after the power distribution firm reported a deeper quarterly loss. While revenue climbed to $265.4 million, beating analyst expectations, the company’s bottom line faltered under the weight of divestiture costs and aggressive investments in personnel and internal capabilities.
Chief Executive Jon DeGaynor attributed the disconnect between rising sales and falling profits to specific one-time hits, particularly the impact of the dataMate divestiture. Despite these headwinds, DeGaynor noted that industrial volume growth—fueled by data center demand—would have driven an increase in adjusted EBITDA if not for these non-recurring expenses. Looking ahead, the company held firm on its fiscal 2027 guidance, maintaining a sales forecast between $1.025 billion and $1.075 billion.
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