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