Custom-engineered solutions manufacturer Methode Electronics (NYSE: MEI) will be announcing earnings results tomorrow afternoon. Here’s what investors should know.
Methode Electronics beat analysts’ revenue expectations by 9% last quarter, reporting revenues of $292.6 million, up 1.6% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Methode Electronics a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Methode Electronics’s revenue to grow 1.5% year on year to $263.4 million, a reversal from the 7.4% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.08 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Methode Electronics has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Methode Electronics’s peers in the electrical systems segment, some have already reported their Q4 results, giving us a hint as to what we can expect. LSI delivered year-on-year revenue growth of 35.5%, beating analysts’ expectations by 14.3%, and Vertiv reported revenues up 25.8%, topping estimates by 8.8%. LSI traded up 11.7% following the results while Vertiv was down 11.3%.
Read our full analysis of LSI’s results here and Vertiv’s results here.
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