Methode Electronics Reports Fiscal 2027 First Quarter Results

Methode Electronics, Inc. reported its financial results for the first quarter of fiscal 2027, which ended August 1, 2026. The company announced net sales of $265.4 million for the quarter, representing a 10.4% increase compared to the same period in the prior year. This growth was driven by higher volumes across the Industrial segment, specifically in data center, on-highway, and off-highway lighting products.

However, the company reported a net loss of $11.4 million, or $0.32 per diluted share, compared to a net loss of $10.3 million, or $0.29 per diluted share, in the prior-year period. The company attributed the wider loss to one-time costs, including the impact of the divestiture of the dataMate business and investments in talent and capabilities, which offset the higher sales and operational improvements.

On a non-GAAP basis, Adjusted EBITDA for the quarter was $13.7 million, or 5.2% of net sales. This figure decreased from $15.7 million, or 6.5% of net sales, in the prior year. The company also noted that absent the impact of the divestiture, Adjusted EBITDA would have increased year-over-year.

Methode’s Industrial segment saw net sales rise to $156.8 million, up 27.0% from $123.5 million in the prior year. Conversely, the Automotive segment reported net sales of $105.7 million, down 0.4% from $106.1 million, largely due to lower sales volumes in EMEA and Asia. The Interface segment saw net sales decline to $2.9 million from $10.9 million, primarily due to the divestiture of the dataMate business and program roll-offs.

In terms of balance sheet management, the company repaid $10.1 million in debt during the quarter. Subsequent to the quarter-end, Methode amended its revolving credit agreement, extending certain maturities to October 2028 and reducing the facility size to $375 million.

The company affirmed its fiscal 2027 guidance, which projects net sales between $1,025 million and $1,075 million, and Adjusted EBITDA between $72 million and $82 million. Management will host a conference call and webcast on September 3, 2026, at 8:00 a.m. Eastern Time to discuss these results.