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Jan 28, 2023
Methode Q3 2023 Earnings Report
Reported fiscal third quarter 2023 financial results.
Key Takeaways
Methode Electronics reported a decrease in net sales by 3.9% compared to the same quarter last year, with net sales of $280.1 million. Net income was $19.9 million, or $0.54 per diluted share. The company also announced a cash offer to acquire Nordic Lights Group Corporation.
Net sales were $280.1 million, with electric and hybrid vehicle applications accounting for a record 24 percent.
Net income was $19.9 million, or $0.54 per diluted share.
Net cash provided by operating activities was $55.7 million.
The company purchased 179,700 shares of its common stock for $8.0 million.
Revenue by Segment
Forward Guidance
For the fiscal year 2023, the company updated its expectations for net sales to be in the range of $1,155 to $1,180 million and for diluted earnings per share to be in a range of $2.50 to $2.60.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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