Methode Electronics Inc (MEI) News & EventsMEIMethode Electronics Inc

Major Indices Bounce Back as ADP Employment Data Falls Short

After three consecutive negative sessions, major indices bounced on Wednesday, helped by modest relief in the Treasury market after softer than expected ADP employment data.  38K monthly print from ADP was a 7-month low, denting  the narrative of a healthy labor market that bolstered expectations of an imminent Fed tightening ahead of Friday's more-heavily considered non-farm payrolls data.  Basic Materials led the benchmark S&P 500 index as precious metal miners rallied.   In tech, software stocks lagged after disappointing results from Palo Alto Networks, though semiconductors and hardware names were generally higher.   Dellwas the best performing stock in the S&P 500 after its strong results overnight.In the opening hour of the evening session index futures are flat.  In commodities, WTI crude oil is still above $90 per barrel, with limited progress seen in resolution of the recent escalation between the U.S. and Iran.   Gold and silver were slightly higher as relief in the Treasury Market hit the greenback - USD/JPY pair backed away from the key 160 level where traders turn more leery of an intervention by Japanese monetary authorities that involves the sale of US government debt.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Tilly'sup 35.5%Snowflakeup 22.5%Netskopeup 13.5%Arganup 8.7%Five Belowup 5.0%DOWN AFTER EARNINGS -Methode Electronicsdown 19.9%NetAppdown 8.2%Phreesiadown 6.7%Hewlett Packard Enterprisedown 4.2%Broadcomdown 0.3%

Company Affirms FY27 Adjusted EBITDA Guidance of $72M to $82M

Backs FY27 adjusted EBITDA view $72M-$82M. Backs FY27 capital expenditures view $25M-$20M. The company said, "For fiscal 2027, the Company affirmed its previous guidance expectation. The Company's fiscal 2027 guidance reflects its current expectations based on available market information, including third-party industry forecasts, customer demand projections, current U.S. tariff policies, and bank forecast currency. The guidance is subject to change due to a variety of factors including the uncertainty in the global trade environment, geopolitical instability such as conflicts in the Middle East, the successful launch of multiple new programs, the ultimate take rates on EV programs, success and timing of cost recovery actions, inflation, global economic instability, supply chain disruptions, transformation and restructuring efforts, potential impairments, any acquisitions or divestitures, and legal matters."

Company Reports Q1 Revenue of $265.4M, Beating Expectations

Reports Q1 revenue $265.4M, consensus $238.31M. President and CEO Jon DeGaynor said, "We delivered a strong start to fiscal 2027, with net sales up 10%, driven primarily by higher volumes across our industrial portfolio, led by data centers. However, one-time costs, including the impact of last year's dataMate divestiture and our investments in talent and capabilities, more than offset the higher sales and operational improvements. Absent the impact of the divestiture, Adjusted EBITDA would have increased year-over-year."