Methode Electronics to announce Q1 results with expected decline in revenue

Methode Electronics (NYSE: MEI) is set to announce earnings results this Wednesday after the bell. Last quarter, the company missed revenue expectations by 8.9%, reporting $239.9 million in revenues, down 7.6% year on year. Analysts expect a further 17.5% revenue decline to $228.8 million this quarter, with adjusted earnings at $0.03 per share. The company has missed Wall Street’s revenue estimates four times over the last two years. Share prices in the electrical equipment segment have risen 5% on average over the last month, with Methode Electronics up 19.7%.

Investors are optimistic about generative AI’s impact on large corporations, with semiconductor stocks like Nvidia and AMD trading near all-time highs. For a lesser-known but profitable semiconductor stock benefiting from the rise of AI, check out our free report here: [Link to Report].

Read more at StockStory Media: Methode Electronics (MEI) Reports Q1 Results Tomorrow