Methode Electronics (NYSE: MEI) reported Q4 EPS of $0.98, $0.25 better than the analyst estimate of $0.73. Revenue for the quarter came in at $249 million versus the consensus estimate of $246.08 million.

Guidance For Fiscal 2019

Methode anticipates sales in the range of $950 million to $970 million, pre-tax income in the range of $127 million to $134 million and earnings per share in the range of $2.81 to $2.96.Fiscal 2019 guidance considers:

• Price reductions of approximately $14.0 million on purchased displays negotiated by a customer in the Automotive segment;
• A significant amount of previously announced Automotive new business not launching until late fourth quarter of Fiscal 2019;
• The delayed launch to Fiscal 2020 of a laundry program in the Interface segment which will result in lower than anticipated revenues of $7 million in Fiscal 2019; and
• Pre-tax expense of approximately $6.5 million for initiatives to reduce overall costs and improve operational profitability.

GUIDANCE:

Methode Electronics sees FY2019 EPS of $2.81-$2.96, versus the consensus of $2.79. Methode Electronics sees FY2019 revenue of $950-970 million, versus the consensus of $905.38 million.

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