| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 240.50 | 7.0% |
| Total Income | 240.50 | 7.0% |
| Expenditure | 239.40 | 10.0% |
| PBT | -6.10 | 53.4% |
| Net Profit | -10.30 | 43.7% |
| OPM | 0.46% | 3.36pp |
| NPM | -4.28% | 2.80pp |
| EPS | -0.29 | 44.2% |
Methode Electronics Reports Q1 FY26 Results: Net Sales $240.5 Million
04 May 2026 · 4 May, 9:07 am
Summary
Methode Electronics, Inc. reported net sales of $240.5 million for the first quarter of fiscal 2026, compared to $258.5 million in the same quarter of fiscal 2025. Income from operations improved to $1.1 million from a loss of $7.5 million in the prior year. The company's net loss was $10.3 million, or $0.29 per diluted share. Methode affirmed its fiscal 2026 guidance, expecting net sales in the range of $900 to $1,000 million and EBITDA in the range of $70 to $80 million.
Key Highlights
- 1
Methode Electronics' net sales were $240.5 million for the first quarter of fiscal 2026.
- 2
Electric and hybrid vehicle applications accounted for 19% of net sales in Q1 FY26.
- 3
Income from operations was $1.1 million, compared to a loss of $7.5 million in the same quarter of fiscal 2025.
- 4
The company reported a net loss of $10.3 million, or a loss of $0.29 per diluted share for Q1 FY26.
- 5
Net debt decreased to $202.3 million, down from $214.0 million at the end of fiscal 2025.
- 6
Net cash provided by operating activities was $25.1 million for the quarter.
- 7
Free cash flow was $18.0 million, compared to a negative $2.7 million in the same quarter of fiscal 2025.
Management Comments
Jon DeGaynor
The Methode transformation journey made further progress in the quarter and is firmly on track, as we continued to reduce costs and improve execution. A $9 million increase in operating income on $18 million in lower sales is clear evidence of that progress. Our data center business grew again and remains on pace for a strong year. The overall business delivered strong free cash flow for the third quarter in a row, and we have now reduced our net debt by $41 million over the last three quarters. I am very proud of the hard work that the Methode team has put into our transformation, and the progress is tangible. For fiscal 2026, we are affirming our expectation to double EBITDA as a result of our operational improvements despite an approximately $100 million decline in sales driven by lower EV demand.
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