| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 246.90 | 2.7% | 15.6% |
| Total Income | 246.90 | 2.7% | 15.6% |
| Expenditure | 244.00 | 1.9% | 13.8% |
| PBT | -4.20 | 31.1% | 362.5% |
| Net Profit | -9.90 | 3.9% | 518.8% |
| OPM | 1.18% | 0.72pp | 2.04pp |
| NPM | -4.01% | 0.27pp | 3.46pp |
| EPS | -0.28 | 3.5% | 460.0% |
Methode Electronics Reports Q2 FY26 Net Sales of $246.9 Million
04 May 2026 · 4 May, 7:00 am
Summary
Methode Electronics reported net sales of $246.9 million for the second quarter of fiscal 2026, a decrease of 15.6% compared to the same quarter of fiscal 2025. The company experienced a net loss of $9.9 million, or 4.0% of net sales. Despite the decrease in sales, Methode reaffirmed its fiscal 2026 guidance for net sales of $900 million to $1 billion and adjusted EBITDA of $70 to $80 million. President and CEO Jon DeGaynor noted the company's transformation journey is on track and reaffirmed the fiscal 2026 guidance, driven by strategic operational enhancements.
Key Highlights
- 1
Methode Electronics' net sales were $246.9 million, a decrease of 15.6% year-over-year.
- 2
The company reported a net loss of $9.9 million, which is 4.0% of net sales.
- 3
Adjusted EBITDA margin was 7.1% for the second quarter of fiscal year 2026.
- 4
The company reaffirmed its fiscal 2026 guidance for net sales of $900 million to $1 billion.
- 5
The company reaffirmed its fiscal 2026 guidance for adjusted EBITDA of $70 to $80 million.
- 6
Automotive segment net sales decreased by 24.1% to $110.5 million due to the roll-off of legacy programs.
- 7
Industrial segment income from operations increased to $29.3 million, up from $24.3 million in the prior year.
Management Comments
Jon DeGaynor
Methode's transformation journey made further progress in the quarter and is on track. I am proud of the unwavering commitment and hard work that the Methode team has put into our transformation. The tangible improvements we have made are creating real value for our customers and shareholders. We are laser focused on improving execution and making Methode a more reliable and resilient company. We are reaffirming our fiscal 2026 guidance, driven by strategic operational enhancements - even as we navigate an approximately $100 million decline in annual net sales primarily due to evolving EV market demand. In addition, we continue to expect to deliver positive free cash flow for the year.
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