Methode Electronics, Inc. Reports Fiscal 2026 First Quarter Financial Results
1. MEI reports Q1 2026 sales of $240.5 million, down from $258.5 million. 2. Automotive segment faced 21.3% sales drop due to lower North American demand. 3. Industrial segment grew 10.8%, driven by power product demand and data centers. 4. Management expects to double EBITDA despite a $100 million decline in sales. 5. Strong free cash flow at $18 million, net debt down by $41 million.