OEM Supplier Methode Electronics Q4 Earnings: Revenue Beat, EPS Miss, CEO Transition And More
OEM Supplier Methode Electronics Q4 Earnings: Revenue Beat, EPS Miss, CEO Transition And More
Custom-engineered solutions provider Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million.
定制化工程解决方案提供商Methode Electronics, Inc (NYSE: MEI) 报告称，2024财年第四季度净销售额同比下降7.9%，至277.3百万美元，超过分析师的共识预测（264.04百万美元）。
Lower Automotive segment sales in all geographic regions and unfavorable foreign currency translation led to a sales decrease for the quarter.
汽车部门在所有地区的销售额下降以及不利的外汇翻译导致了本季度销售额的降低。
Adjusted EPS loss of $0.23 missed the analyst consensus loss estimate of $0.20. The stock price climbed after the print.
调整后的每股亏损为0.23美元，低于分析师对亏损的共识估计（0.20美元）。公布后，股价上涨。
Segments: Automotive segment's net sales were $145.9 million, down from $186.2 million primarily due to lower volume in Asia and Europe. Net sales for the Industrial segment were $117.2 million, up from $98.0 million driven by the acquisition of the Nordic Lights.
板块：汽车部门的净销售额为1.459亿美元，较去年同期的1.862亿美元下降，主要是由于亚洲和欧洲的成交量下降。工业部门的净销售额为1.172亿美元，由于收购挪迪克(Nordic Lights)的推动，较9800万美元的去年同期有所增长。
Sales in the Interface segment were $14.2 million, down from $15.8 million, mainly due to a lower volume of appliance products.
Interface板块的销售额为1420万美元，主要是由于家电产品的成交量减少而下降至1580万美元。
Gross profit fell 43.9% Y/Y to $35.5 million. Adjusted EBITDA was $5.3 million, significantly lower than $31.7 million in the same quarter a year ago.
毛利润同比下降43.9%至3550万美元。调整后的EBITDA为530万美元，远低于去年同期的3170万美元。
The company exited the quarter with cash and equivalents totaling $161.5 million. Long-term debt was $330.7 million at the end of the quarter.
该公司季末现金及等价物总额为1.615亿美元。长期债务在季度结束时为3.307亿美元。
Interim CEO Kevin Nystrom highlighted that Q4 sales improved from Q3 but were down year-over-year due to auto program roll-offs and weak e-bike demand.
临时首席执行官Kevin Nystrom强调，四季度的销售额虽然比第三季度有所改善，但由于汽车项目停滞和电动自行车需求疲软，同比下降。
EV activity also declined due to program roll-offs and lower market demand. He noted that the automotive segment faced operational inefficiencies due to increased program launches, labor turnover, and higher costs, leading to an adjusted net loss.
由于项目启动增加、劳动力流失和成本上升，改变导致的经营效率下降，导致汽车板块出现了调整后的净亏损。
Nystrom expects fiscal 2025 to be a repositioning year with flat organic sales growth and near-breakeven pre-tax income, followed by organic sales growth and significant pre-tax income improvement in fiscal 2026.
Nystrom预计2025财年将是一个重新定位的年份，有机销售增长率与税前收入持平，紧随其后的是2026财年的有机销售增长率和大幅增加的税前收入。
Outlook: For fiscal 2025, the company expects net sales to be similar to fiscal 2024 of $1.115 billion versus $1.044 billion analyst consensus.
外界预测Methode Electronics于2025财年的净销售额将为11.15亿美元，与2024财年的同级别相似。
It expects fiscal 2026 net sales to exceed fiscal 2025 net sales.
公司预计2026财年的净销售额将超过2025财年的净销售额。
CEO Transition: In June, the company disclosed plans to tap Jon DeGaynor as the CEO and a director, effective July 15, 2024. DeGaynor will succeed Kevin Nystrom, a partner and managing director at AlixPartners LLP, who has served as interim CEO since May 7, 2024.
CEO更换：该公司于6月披露计划聘请Jon DeGaynor担任首席执行官和董事，自2024年7月15日起生效。DeGaynor将接替Kevin Nystrom，后者是AlixPartners LLP的合伙人和董事总经理，自2024年5月7日起担任临时CEO。
Price Action: MEI shares are trading higher by 8.29% to $10.22 premarket at the last check Thursday.
截至上周四，MEI股票的交易价格为10.22美元，较预市涨8.29%。