| Metric | Value ($ M) | Q1 FY26 |
|---|---|---|
| Revenue | 265.40 | 10.3% |
| Total Income | 265.40 | 10.3% |
| Expenditure | 269.30 | 12.5% |
| PBT | -7.30 | 19.7% |
| Net Profit | -11.40 | 10.7% |
| OPM | -1.47% | 1.93pp |
| NPM | -4.29% | 0.01pp |
| EPS | -0.32 | 10.3% |
Methode Electronics Reports Q1 FY27 Financial Results
03 Sept 2026 · 2d ago, 1:57 am
Summary
Methode Electronics reported a strong start to fiscal 2027 with net sales up 10.4% year-over-year to $265.4 million, primarily driven by higher Industrial segment volumes. However, the company posted a net loss of $11.4 million, widened from $10.3 million in the prior year, due to one-time costs related to the dataMate divestiture and investments in talent. Adjusted EBITDA also decreased to $13.7 million from $15.7 million. Management highlighted significant new contract awards and affirmed fiscal 2027 guidance, expressing confidence in their transformation strategy for sustainable growth.
Key Highlights
- 1
Consolidated net sales for the first quarter of fiscal 2027 were $265.4 million, an increase of 10.4% year-over-year.
- 2
The company reported a net loss of $11.4 million for the quarter, compared to a net loss of $10.3 million in the prior-year period.
- 3
Adjusted EBITDA was $13.7 million for the first quarter of fiscal 2027, down from $15.7 million in the same quarter of fiscal 2026.
- 4
New non-data center awards totaling $75 million of peak annual revenue were booked, representing approximately $400 million of lifetime revenue.
- 5
Industrial segment net sales increased by 27.0% to $156.8 million, driven by higher volumes for data center, on-highway, and off-highway lighting products.
- 6
Automotive segment net sales were $105.7 million, a slight decrease of 0.4% compared to the prior-year quarter.
- 7
The company affirmed its fiscal 2027 guidance, expecting net sales between $1,025 million and $1,075 million.
Management Comments
Jon DeGaynor
We delivered a strong start to fiscal 2027, with net sales up 10%, driven primarily by higher volumes across our industrial portfolio, led by data centers. However, one-time costs, including the impact of last year’s dataMate divestiture and our investments in talent and capabilities, more than offset the higher sales and operational improvements. Absent the impact of the divestiture, Adjusted EBITDA would have increased year-over-year. We booked new non-data center awards representing $75 million of peak annual revenue, or approximately $400 million of lifetime revenue - proof of the commercial momentum we are building as our execution improvements continue to translate into results with customers. Our transformation is a multi-year effort, and progress won't always be linear, but I'm confident we have the right strategy and the right team in place to deliver sustainable, profitable growth and long-term value for our shareholders.
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