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.
定製化工程解決方案提供商Methode Electronics, Inc (NYSE: MEI) 報告稱，2024財年第四季度淨銷售額同比下降7.9%，至277.3百萬美元，超過分析師的共識預測（264.04百萬美元）。
Lower Automotive segment sales in all geographic regions and unfavorable foreign currency translation led to a sales decrease for the quarter.
汽車部門在所有地區的銷售額下降以及不利的外匯翻譯導致了本季度銷售額的降低。
Adjusted EPS loss of $0.23 missed the analyst consensus loss estimate of $0.20. The stock price climbed after the print.
調整後的每股虧損爲0.23美元，低於分析師對虧損的共識估計（0.20美元）。公佈後，股價上漲。
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.
板塊：汽車部門的淨銷售額爲1.459億美元，較去年同期的1.862億美元下降，主要是由於亞洲和歐洲的成交量下降。工業部門的淨銷售額爲1.172億美元，由於收購挪迪克(Nordic Lights)的推動，較9800萬美元的去年同期有所增長。
Sales in the Interface segment were $14.2 million, down from $15.8 million, mainly due to a lower volume of appliance products.
Interface板塊的銷售額爲1420萬美元，主要是由於家電產品的成交量減少而下降至1580萬美元。
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.
毛利潤同比下降43.9%至3550萬美元。調整後的EBITDA爲530萬美元，遠低於去年同期的3170萬美元。
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.
該公司季末現金及等價物總額爲1.615億美元。長期債務在季度結束時爲3.307億美元。
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.
臨時首席執行官Kevin Nystrom強調，四季度的銷售額雖然比第三季度有所改善，但由於汽車項目停滯和電動自行車需求疲軟，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.
由於項目啓動增加、勞動力流失和成本上升，改變導致的經營效率下降，導致汽車板塊出現了調整後的淨虧損。
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預計2025財年將是一個重新定位的年份，有機銷售增長率與稅前收入持平，緊隨其後的是2026財年的有機銷售增長率和大幅增加的稅前收入。
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.
外界預測Methode Electronics於2025財年的淨銷售額將爲11.15億美元，與2024財年的同級別相似。
It expects fiscal 2026 net sales to exceed fiscal 2025 net sales.
公司預計2026財年的淨銷售額將超過2025財年的淨銷售額。
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更換：該公司於6月披露計劃聘請Jon DeGaynor擔任首席執行官和董事，自2024年7月15日起生效。DeGaynor將接替Kevin Nystrom，後者是AlixPartners LLP的合夥人和董事總經理，自2024年5月7日起擔任臨時CEO。
Price Action: MEI shares are trading higher by 8.29% to $10.22 premarket at the last check Thursday.
截至上週四，MEI股票的交易價格爲10.22美元，較預市漲8.29%。