(RTTNews) - Methode Electronics, Inc. (MEI) posted a first quarter net loss of $18.3 million or $0.52 per share, compared to net income of $0.9 million or $0.02 per share in the same quarter of fiscal 2024. Adjusted net loss was $10.9 million, or $0.31 per share, compared to adjusted net income of $2.0 million or $0.06 per share. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $0.30 for the quarter. Analysts' estimates typically exclude special items.
Net sales were $258.5 million, compared to $289.7 million in the same quarter of fiscal 2024. Analysts expected revenue of $264.65 million for the quarter.
For fiscal 2025, the company affirmed guidance for net sales to be similar to fiscal 2024 and adjusted pre-tax income to be approaching breakeven. For fiscal 2026, the company affirmed expectation for net sales to be greater than fiscal 2025 and pre-tax income to be positive and notably greater than fiscal 2025.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
