Methode Electronics generated $265,400,000.00 ($265.4 million) in Revenue for the 13 weeks ended August 1, 2026, while its net loss widened to $11,400,000 ($11.4 million). Investors also saw diluted loss per share reach $0.32, alongside cash and cash equivalents of $116,200,000 ($116.2 million).

Key Highlights

  • Industrial revenue totaled $156,800,000 ($156.8 million), ahead of Automotive revenue at $105,700,000 ($105.7 million).
  • Cash and cash equivalents stood at $116,200,000 ($116.2 million) at August 1, 2026.
  • Comprehensive loss totaled $14,000,000 ($14 million) for the quarter.

Methode Electronics Inc. (NYSE: MEI) recorded revenue of $265,400,000 ($265.4 million) for the three months ended August 1, 2026, compared with $240,500,000 ($240.5 million) for the comparable 13-week period. Net loss reached $11,400,000 ($11.4 million), versus a $10,300,000 ($10.3 million) loss a year earlier.

Quarterly Results In Focus

Gross profit increased to $47,700,000 ($47.7 million) from $43,500,000 ($43.5 million). Cost of products sold was $217,700,000 ($217.7 million), compared with $197,000,000 ($197 million) in the comparable period. Selling and administrative expenses rose to $45,900,000 ($45.9 million) from $36,600,000 ($36.6 million). Amortization of Intangibles was $5,700,000 ($5.7 million), compared with $5,800,000 ($5.8 million). The company reported an operating loss of $3,900,000 ($3.9 million), compared with Operating Income of $1,100,000 ($1.1 million). Net interest expense was $5,200,000 ($5.2 million), down from $5,900,000 ($5.9 million). Other income, net, was $1,800,000 ($1.8 million), compared with other expense, net, of $1,300,000 ($1.3 million). Pre-tax loss was $7,300,000 ($7.3 million), compared with $6,100,000 ($6.1 million). Income tax expense was $4,100,000 ($4.1 million), compared with $4,200,000 ($4.2 million). Cash dividends were $0.05 per share, down from $0.07 per share.

Industrial Segment Leads Sales

Industrial revenue was $156,800,000 ($156.8 million), while Automotive contributed $105,700,000 ($105.7 million). Sales from Europe, the Middle East and Africa were $112,900,000 ($112.9 million). That total included $53,700,000 ($53.7 million) from Automotive and $59,200,000 ($59.2 million) from Industrial.

Cash Position And Comprehensive Loss

Cash and cash equivalents were $116,200,000 ($116.2 million) at August 1, 2026. Total current Assets were $584,400,000 ($584.4 million). Comprehensive loss was $14,000,000 ($14 million), compared with $3,500,000 ($3.5 million) in the prior-year quarter. Foreign-currency translation adjustments produced a $3,000,000 ($3 million) loss, while derivative financial instruments contributed $400,000 ($0.4 million) of other comprehensive income. Methode Electronics had 35,645,053 common shares outstanding at August 31, 2026.

Credit Agreement Amendment

As of August 1, 2026, the company was in compliance with all covenants under the existing Credit agreement.