METHODE ELECTRONICS (MEI) Company Report

Methode Electronics reported Q2 fiscal 2026 net sales of $246.9 million, a 16% decrease year-over-year but a 3% sequential increase, with adjusted EBITDA of $17.6 million and an adjusted diluted loss per share of $0.19.
The company reaffirmed its full-year fiscal 2026 sales guidance of $900 million-$1 billion and Adjusted EBITDA guidance of $70-$80 million, expecting the second half to be stronger than the first.
Free cash flow improved by $46.8 million year-over-year in Q2 fiscal 2026, with a usage of $11.6 million, and the company projects positive free cash flow for the full fiscal year 2026.
Operational improvements are underway in Egypt and Mexico facilities, driving quality, delivery, and cost enhancements, and the company is relocating its corporate headquarters to Southfield, Michigan.

Dec 4, 2025, 4:00 PM

Transcript

Methode Electronics Reports Q2 Fiscal 2026 Results and Reaffirms Full-Year Guidance

MEI

Earnings

Guidance Update

Demand Weakening

Methode Electronics (MEI) reported Net Sales of $247 million and Adjusted EBITDA of $18 million for Q2 Fiscal 2026, representing sequential increases of 3% in net sales and 12% in adjusted EBITDA.
For the first half of Fiscal 2026, the company achieved Net Sales of $487 million and Adjusted EBITDA of $33 million, reaffirming its full-year Fiscal 2026 guidance for Net Sales between $900 million and $1 billion and Adjusted EBITDA between $70 million and $80 million.
The company's Free Cash Flow for Q2 Fiscal 2026 was negative $12 million, an improvement of $47 million year-over-year, contributing to positive free cash flow of $6 million for the first half of Fiscal 2026.
Net Debt was reduced by $29.6 million, or 12%, year-over-year to $214.0 million as of Q2 Fiscal 2026.

Dec 4, 2025, 4:00 PM

Presentation

Methode Electronics Reports Q2 Fiscal 2026 Results and Reaffirms Full-Year Guidance

MEI

Earnings

Guidance Update

New Projects/Investments

Methode Electronics reported Q2 fiscal 2026 net sales of $246.9 million, representing a 3% sequential increase, and Adjusted EBITDA of $17.6 million, which rose 12% sequentially. The company also recorded an adjusted net loss of $6.7 million and an adjusted diluted loss per share of $0.19.
The company reaffirmed its full-year fiscal 2026 sales guidance of $900 million to $1 billion and Adjusted EBITDA guidance of $70 million to $80 million. They expect to achieve positive free cash flow for fiscal 2026, an improvement from an outflow of $15 million in the previous fiscal year.
Operational improvements in the Egypt and Mexico facilities are driving enhanced quality, delivery, and cost, with gross margins in Egypt nearly doubling. The company also noted a $46.8 million year-over-year improvement in Q2 free cash flow, having generated $17.7 million in operating cash in the first half of fiscal 2026.
Methode's product portfolio is aligned with megatrends such as data centers and vehicle electrification, with data center sales exceeding $80 million annually last year and long-term growth anticipated. In the first half of fiscal 2026, EVs constituted 41% of automotive sales, with 71% of those EV sales originating in Europe.

Dec 4, 2025, 4:00 PM

Transcript

Methode Electronics Presents at 2025 Baird Global Industrial Conference

MEI

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Methode Electronics (MEI) presented at the 2025 Baird Global Industrial Conference on November 11, 2025.
The company reported FY 2025 sales of $1.05 billion.
Methode is a global supplier of custom-engineered solutions, emphasizing Power Solutions as a growth engine for EVs, data centers, and mil/aero applications.
For the fiscal year ended May 3, 2025 (53 weeks), the company reported Adjusted EBITDA of $42.5 million.

Nov 11, 2025, 4:15 PM

Presentation

Methode Electronics Discusses Transformation, Growth Drivers, and Financial Priorities

MEI

Management Change

New Projects/Investments

Guidance Update

Methode Electronics (MEI) is undergoing an 18-month transformation journey to stabilize its operations, which has included significant management changes with all but two senior leaders replaced in the last 12 months.
The company reported sales just over $1 billion for the last fiscal year (FY2024). A key growth driver is its data center business, which grew from over $40 million in fiscal 2023 to over $80 million in fiscal 2024.
North American automotive operations, which represent 15% of the total company, are facing specific challenges, with a Mexico plant's revenue run rate decreasing from over $400 million to approximately $200 million.
Methode is focused on generating positive free cash flow for FY2026 and aims for a near-term leverage ratio in the low threes, with a long-term target under three.
The company is leveraging its global footprint, including a USMCA certified facility in Mexico, to drive growth by adapting to changing supply chains and tariff regimes.

Nov 11, 2025, 4:15 PM

Transcript

Solitron Devices Announces Strong Fiscal 2026 Third Quarter Bookings and Backlog

MEI

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Solitron Devices, Inc. reported fiscal 2026 third quarter to date bookings exceeding $13.8 million, a substantial increase compared to approximately $8.0 million in the fiscal 2025 third quarter.
Bookings for the first nine months of fiscal 2026 reached approximately $20.9 million, up from approximately $11.8 million in the prior fiscal year's comparable period.
The company's backlog for fiscal year 2026 is approximately $29.0 million as of November 5, 2025, significantly higher than the approximately $12.3 million backlog reported as of November 30, 2024, for fiscal year 2025.
These bookings include the expected AMRAAM Lot 39 order, with additional bookings anticipated during November for the third quarter.

Nov 5, 2025, 9:02 PM

Press Release

Methode Electronics Board and Executive Officers Under Investigation by Johnson Fistel

MEI

Legal Proceedings

Profit Warning

Guidance Update

Johnson Fistel, PLLP has initiated an investigation into certain board members and executive officers of Methode Electronics, Inc. (MEI) for potential breaches of fiduciary duties and violations of federal securities laws.
The investigation follows a class action complaint alleging significant operational and strategic failures, including loss of skilled employees, production planning deficiencies, and botched execution of its transition to a high mix, low production model and new EV programs at its Monterrey facility.
It was also alleged that Methode Electronics was not on track to meet its 2023 diluted earnings-per-share guidance or the 3-year 6% organic sales compound annual growth rate, with these estimates lacking a reasonable factual basis.
Stockholders who held MEI stock before June 23, 2022, are encouraged to contact Johnson Fistel to discuss their legal rights.

Nov 4, 2025, 9:07 PM

Press Release

Methode Electronics Reaffirms Fiscal 2026 Guidance Amidst Transformation

MEI

Guidance Update

Dividends

Demand Weakening

Methode Electronics (MEI) has reaffirmed its fiscal 2026 guidance, projecting to double its EBITDA to a range of $70 million to $80 million on sales of $900 million to $1 billion, despite an anticipated $100 million decline in sales primarily due to lower EV demand.
The company expects its EBITDA margin to nearly double from 4.1% to 7.9% in fiscal 2026, driven by operational improvements, including $9 million in SG&A cost reductions and a 3% improvement in materials efficiency.
Methode has demonstrated strong financial discipline with three consecutive quarters of positive free cash flow, leading to a $41 million reduction in net debt over the last three quarters.
As part of its transformation, the company is implementing strategic changes such as reducing its board size from 10 to 7, relocating its headquarters, reducing its dividend, and optimizing its portfolio to focus on data centers, EV, and lighting.

Sep 18, 2025, 5:45 PM

Transcript

Methode Electronics Reaffirms Fiscal 2026 Guidance and Highlights Operational Improvements

MEI

Guidance Update

Demand Weakening

New Projects/Investments

Methode Electronics (MEI) reaffirmed its fiscal 2026 guidance, projecting sales between $900 million and $1 billion and EBITDA between $70 million and $80 million. This represents a near doubling of EBITDA from fiscal 2025, despite an anticipated $100 million decline in sales primarily due to lower EV demand.
The company reported significant financial progress, including a $9 million increase in income from operations year-over-year, three consecutive quarters of strong free cash flow, and a $41 million reduction in debt over the last three quarters.
Operational improvements and cost reductions are key drivers for the projected EBITDA growth, including over $9 million in SG&A reductions and a 3% year-over-year improvement in materials perspective.
Data center power product sales have grown substantially, reaching $80 million in fiscal 2025, up from $25 million in fiscal 2023, with fiscal 2026 volume guided as flat but with potential upside.

Sep 18, 2025, 5:45 PM

Transcript

Methode Electronics Affirms Fiscal 2026 Guidance and Highlights Power Products Growth

MEI

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Methode Electronics affirmed its Fiscal 2026 full-year guidance, projecting net sales between $900 million and $1,000 million and EBITDA between $70 million and $80 million.
The company reported three consecutive quarters of strong free cash flow and net debt reduction, with Q1 income from operations increasing by $9 million due to significant selling, general, and administrative (S&A) reductions and ongoing operational improvements.
Power Solutions sales grew from $116 million in FY22 to $252 million in FY25, achieving a 30% compounded annual growth rate since Fiscal 2022, driven by Electric Vehicles, Data Centers, and Mil/Aero applications.
Methode's transformation is on track, with Fiscal 2026 priorities focused on foundational actions, organizational refinement, and aligning its portfolio with megatrends such as Data Centers and Vehicle Electrification.