Stock Analysis

Methode Electronics Second Quarter 2023 Earnings: Beats Expectations

  •  Updated
NYSE:MEI
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Methode Electronics (NYSE:MEI) Second Quarter 2023 Results

Key Financial Results

  • Revenue: US$315.9m (up 6.9% from 2Q 2022).
  • Net income: US$27.6m (flat on 2Q 2022).
  • Profit margin: 8.7% (down from 9.3% in 2Q 2022). The decrease in margin was driven by higher expenses.
  • EPS: US$0.76 (up from US$0.73 in 2Q 2022).
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NYSE:MEI Earnings and Revenue Growth December 3rd 2022

All figures shown in the chart above are for the trailing 12 month (TTM) period

Methode Electronics Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Electronic industry in the US.

Performance of the American Electronic industry.

The company's shares are up 10% from a week ago.

Risk Analysis

Be aware that Methode Electronics is showing 1 warning sign in our investment analysis that you should know about...

What are the risks and opportunities for Methode Electronics?

Methode Electronics, Inc. designs, engineers, and produces mechatronic products worldwide.

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Rewards

  • Earnings are forecast to grow 14.72% per year

Risks

  • Significant insider selling over the past 3 months

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Methode Electronics

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