DivestmentJun 24, 2026, 04:27 PM
Methode Electronics Divests dataMate Business
AI Summary
Methode Electronics, Inc. filed its 10-K, announcing the divestment of its dataMate business in the fourth quarter of fiscal 2026 and the winding down of its consumer appliance business. The report also highlighted a shift in segment contributions, with the Industrial segment's net sales rising to 51.4% in fiscal 2026, surpassing the Automotive segment at 45.9%. The company detailed its global operations and various risk factors.
Key Highlights
- Divested dataMate business in Q4 fiscal 2026.
- Consumer appliance business is winding down.
- Industrial segment net sales rose to 51.4% in FY2026.
- Automotive segment net sales decreased to 45.9% in FY2026.
- Interface segment net sales declined to 2.7% in FY2026.
- Five largest customers accounted for approximately 41% of FY2026 net sales.
- Global workforce of approximately 6,650 employees and 263 contractors.
- Approximately 93.9% of workforce located outside the U.S.
Price Impact
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