Methode Q4 2022 Earnings Report
Key Takeaways
Methode Electronics reported a decrease in net sales and net income for the fourth quarter of fiscal year 2022, while achieving strong free cash flow and securing significant program awards. Net sales were $288.7 million, and net income was $16.2 million, or $0.43 per diluted share. The company also announced a 3-year organic sales compounded annual growth rate target of 6%.
Net sales were $288.7 million, with electric and hybrid vehicle applications accounting for 17 percent.
Net income was $16.2 million, or $0.43 per diluted share.
Free cash flow was $33.6 million.
Company was awarded programs with expected annual sales of over $100 million.
Methode
Methode
Methode Revenue by Segment
Forward Guidance
For the fiscal year 2023, the company expects net sales to be in the range of $1,160 to $1,210 million. Diluted earnings per share is expected to be in a range of $2.70 to $3.10.
Revenue & Expenses
Visualization of income flow from segment revenue to net income