Methode Electronics (MEI) Tops Q1 EPS by 28c

Methode Electronics (NYSE: MEI) reported Q1 EPS of $0.54, $0.28 better than the analyst estimate of $0.26. Revenue for the quarter came in at $190.9 million versus the consensus estimate of $174.3 million.

GUIDANCE:

Methode Electronics sees Q2 2021 revenue of $230-250 million, versus the consensus of $239 million.

• The company expects net sales in the fiscal second quarter of 2021 to improve sequentially and be in the range of $230 to $250 million based on the near-term outlook, which is subject to disruption at any time due to a variety of factors including the pandemic situation. However, the company is not providing annual guidance due to the mid-term market uncertainty as a result of the ongoing pandemic.

For earnings history and earnings-related data on Methode Electronics (MEI) click here.

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