MEI

EX-99.1

2 mei-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Methode Electronics, Inc. Reports Fiscal 2026 Fourth Quarter and Full Year Financial Results

Transformation progress drives improved profitability and positions the Company for continued growth in fiscal 2027

Fiscal Fourth Quarter 2026 Highlights

• Net sales of $298.1 million, up 15.9% year-over-year, including $22.5 million of customer recoveries realized during the quarter

• Net income of $0.4 million or 0.1% of net sales, compared to a net loss of $28.3 million in prior year period

• Adjusted EBITDA of $26.9 million compared to Adjusted EBITDA loss of $7.1 million in prior year period

Fiscal Year 2026 Highlights (52-week fiscal year 2026 compared to 53-week fiscal year 2025)

• Net sales of $1,019.2 million, down 2.8% year-over-year

• Net loss of $35.7 million or 3.5% of net sales, compared to a net loss of $62.6 million in fiscal 2025

• Adjusted EBITDA of $68.2 million or 6.7% of net sales, up 60.5% year-over-year

• Cash from operations totaled $38.0 million, capital expenditures totaled $22.4 million, resulting in $15.6 million of free cash flow

Fiscal Year 2027 Outlook Highlights

• Net sales expected to be in the range of $1.025 billion to $1.075 billion

• Adjusted EBITDA expected to be in the range of $72 million to $82 million

• Capital expenditures expected to be in the range of $25 million to $30 million

• Free cash flow expected to remain generally consistent with fiscal 2026

Southfield, MI – June 24, 2026 – Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for power distribution, user interface, lighting, and sensor applications, today announced financial results for the fourth quarter and full year ended May 2, 2026.

“Fiscal 2026 marked a year of meaningful progress in Methode’s transformation as we continued to execute on the commitments we made to our employees, customers, and shareholders,” said Jon DeGaynor, President and Chief Executive Officer. “Despite a challenging operating environment, we improved profitability, generated positive free cash flow, strengthened our balance sheet, simplified our portfolio, and continued investing in our people and capabilities. The actions we have taken over the last two years to strengthen operational discipline, upgrade talent, and optimize our portfolio are delivering results and enhancing the company's long-term earnings power. We are also increasing our exposure to attractive growth opportunities in data centers, vehicle electrification, and other power solutions markets where our engineering expertise provides a meaningful competitive advantage.

Mr. DeGaynor continued, “As we enter fiscal 2027, our priorities remain clear: deliver for our customers, continue improving operational performance, maintain disciplined capital allocation, and create long-term shareholder value. We believe Methode enters the year with a more focused portfolio, a stronger operating model, deeper customer relationships, and growing participation in attractive industrial growth markets, including data center power infrastructure. As a result, we are increasingly well positioned to drive sustainable profitable growth, margin expansion, and cash generation over the long term.”

Consolidated Fiscal Fourth Quarter 2026 Financial Results

Methode's net sales were $298.1 million, compared to $257.1 million in the same quarter of fiscal 2025. The increase was primarily driven by Automotive segment customer recoveries, higher Industrial segment volume and mix and favorable foreign exchange, partially offset by lower Interface segment sales due to program roll-offs and the impact of the sale of the dataMate business.

Gross profit was $72.2 million, up from $19.6 million in the prior-year quarter, primarily reflecting customer recoveries in the Automotive segment and operational efficiencies in the Automotive and Industrial segments.

Income from operations was $10.9 million, compared to a loss from operations of $23.6 million in the same quarter of fiscal 2025. Adjusted income from operations, a non-GAAP financial measure, was $15.6 million, compared to an adjusted loss from operations of $21.6 million in the same quarter of fiscal 2025.

Income tax expense was $12.3 million, compared to a benefit of $2.1 million in the same quarter of fiscal 2025. The increase was primarily attributable to approximately $4.8 million higher tax expense associated with non-deductible items and $3.4 million related to additional foreign taxes in fiscal 2026, absent a non-recurring benefit recorded in fiscal 2025 related to unrecognized tax benefits of $3.9 million due to lapsing of statutes of limitations.

Net income was $0.4 million or $0.01 per diluted share, compared to a net loss of $28.3 million or $0.80 per diluted share in the same quarter of fiscal 2025. Adjusted net loss, a non-GAAP financial measure, was $10.4 million or $0.30 per diluted share, compared to an adjusted lo

8-K

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 05, 2026

METHODE ELECTRONICS, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-33731

36-2090085

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

25650 West 11 Mile Rd

Southfield, Michigan

48034-2253

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (708) 867-6777

8750 West Bryn Mawr Avenue, Suite 1000

Chicago, Illinois

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.50 Par Value

MEI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On March 5, 2026, Methode Electronics, Inc. (the “Company”) issued a press release announcing its financial results for its third quarter ended January 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Form 8-K and the Exhibit attached hereto pertaining to the Company’s financial results shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits. d)Exhibits:

Exhibit Number

Description

99.1

Earnings Release of Methode Electronics, Inc. dated March 5, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Methode Electronics, Inc.

Date:

March 5, 2026

By:

/s/ Laura Kowalchik

Laura Kowalchik Chief Financial Officer

8-K

false000006527000000652702025-12-032025-12-03

d

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 03, 2025

METHODE ELECTRONICS, INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware

001-33731

36-2090085

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

8750 West Bryn Mawr Avenue

Chicago, Illinois

60631-3518

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (708) 867-6777

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.50 Par Value

MEI

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On December 3, 2025, Methode Electronics, Inc. (the “Company”) issued a press release announcing its financial results for its second quarter ended November 1, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Form 8-K and the Exhibit attached hereto pertaining to the Company’s financial results shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits. d)Exhibits:

Exhibit Number

Description

99.1

Earnings Release of Methode Electronics, Inc. dated December 3, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Methode Electronics, Inc.

Date:

December 3, 2025

By:

/s/ Laura Kowalchik

Laura Kowalchik Chief Financial Officer