Yahoo Finance Methode Electronics Third Quarter 2024 Earnings: Misses Expectations
Methode Electronics (NYSE:MEI) Third Quarter 2024 Results
Key Financial Results
Revenue: US$259.5m (down 7.4% from 3Q 2023).
Net loss: US$11.6m (down by 158% from US$19.9m profit in 3Q 2023).
US$0.33 loss per share (down from US$0.56 profit in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Methode Electronics Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 9.9%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Electronic industry in the US are expected to grow by 5.3%.
Performance of the American Electronic industry.
The company's shares are down 35% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 1 warning sign for Methode Electronics you should be aware of.
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