Methode Electronics (MEI) Q3 Revenue Tops Views, Updates Guidance

Methode Electronics (NYSE: MEI) reported Q3 EPS of ($0.65), does not compare the analyst estimate of $0.66. Revenue for the quarter came in at $228 million versus the consensus estimate of $219.91 million.

In the Fiscal 2018 third quarter, the impact from increased tax expense due to the enactment of the Tax Cuts and Jobs Act (“U.S. Tax Reform”) was $56.8 million, or $1.52 per share

Methode updated Fiscal 2018 guidance for sales to the range of $900 million to $910 million from a range of $880 million to $900 million, pre-tax income from operations to the range of $125 to $130 million from $114 to $127 million and earnings per share (inclusive of the U.S. Tax Reform charge) to the range of $1.23 to $1.33 from $2.43 to $2.63. The U.S. Tax Reform charge will negatively impact Fiscal 2018 earnings per share by $1.52.

For earnings history and earnings-related data on Methode Electronics (MEI) click here.

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