Methode Q1 2022 Earnings Report
Key Takeaways
Methode Electronics reported a strong first quarter with net sales up 51% and income from operations up 147%. The company reaffirmed its full-year guidance, but noted potential challenges from ongoing supply chain disruptions.
Net sales increased by 51% to $287.8 million.
Electric and hybrid vehicle applications accounted for 16% of net sales.
Income from operations rose by 147% to $34.1 million.
The company repurchased 157,513 shares of its common stock for $7.6 million.
Methode
Methode
Methode Revenue by Segment
Forward Guidance
Methode reaffirmed its expectation for fiscal year 2022 net sales to be in the range of $1,175 to $1,235 million and for diluted earnings per share to be in the range of $3.35 to $3.75. The guidance is subject to disruption due to a variety of factors including the ongoing semiconductor shortage and other supply chain disruptions.
Challenges Ahead
- Ongoing supply chain challenges
- Semiconductor shortages
- Potential for performance below the midpoint of guidance ranges
- Dynamic and challenging situation
- Unspecified variety of factors
Revenue & Expenses
Visualization of income flow from segment revenue to net income