Methode Electronics (MEI) Tops Q2 EPS by 1c, Revenues Miss; Offers FY20 EPS Guidance Above Consensus, Lowers FY20 Revenue Guidance

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Go back to Methode Electronics (MEI) Tops Q2 EPS by 1c, Revenues Miss; Offers FY20 EPS Guidance Above Consensus, Lowers FY20 Revenue Guidance

Methode Electronics, Inc. Reports Fiscal 2020 Second-Quarter Results and Reaffirms Full Year EPS Guidance

December 5, 2019 7:00 AM EST

CHICAGO, Dec. 05, 2019 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI), a global developer of custom-engineered and application-specific products and solutions, announced financial results for the second quarter of Fiscal 2020 ended October 26, 2019.

Second Quarter Fiscal 2020Methode's second-quarter Fiscal 2020 net sales decreased $6.8 million, or 2.6 percent, to $257.2 million from $264.0 million in the same quarter of Fiscal 2019. Net sales in the second quarter of Fiscal 2020 were negatively impacted by the United Auto Workers ("UAW") labor strike at General Motors ("GM"), which reduced sales by approximately $32.0 million, and currency rate... More