Methode Electronics, Inc. (NYSE:MEI) Q3 2024 Earnings Conference Call March 7, 2024 11:00 AM ET Company Participants Robert Cherry - Vice President, Investor Relations Avi Avula - President and Chief Executive Officer Ron Tsoumas - Chief Financial Officer Conference Call Participants Luke Junk - Robert W. Baird Gary Prestopino - Barrington Research John Franzreb - Sidoti & Company Operator Greetings. Welcome to the Methode Electronics Third Quarter Fiscal 2024 Results Conference Call. [Operator Instructions ...

Exhibit 99.1 Methode Electronics, Inc. Reports Fiscal 2024 Third Quarter Financial Results Chicago, IL – March 7, 2024 – Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom- engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the third quarter of fiscal 2024 ended January 27, 2024. Excluding Nordic Lights, selling and administrative expense decreased $1.4 million primarily due to lower stock-based compensatio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended January 27, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______ Commission file number 001-33731 METHODE ELECTRONICS, INC. (Exact name of registrant as specified in its charter) Delaware ...

Financial Data and Key Metrics Changes - Second quarter net sales were $288 million, a decrease of 9% from $315.9 million in fiscal '23, primarily due to program roll-offs and market challenges [10][22] - Loss from operations was $51.3 million, down from an income of $32.8 million in fiscal '23, largely due to a goodwill impairment charge of $56.5 million [11][23] - Second quarter diluted earnings per share decreased to a negative $1.55 from a positive $0.75 in the same period last fiscal year [23] - Free cash flow was negative $11.3 million compared to a positive $7 million in fiscal '23, primarily due to reduced net income and increased capital expenditures [25] Business Line Data and Key Metrics Changes - The auto segment faced significant challenges, including a non-cash goodwill impairment of $57 million related to North American and European operations [3][11] - Sales from electric vehicle (EV) programs accounted for 19% of consolidated total sales, with over $50 million in annual EV program awards won in the quarter [18] - The e-bike market continued to show weakness, with lower sales for e-bike sensors expected to persist due to overstocked inventory [22] Market Data and Key Metrics Changes - The company experienced operational inefficiencies in North American auto operations, which were exacerbated by personnel turnover and vendor issues [16][17] - The Nordic Lights acquisition contributed $20.9 million to sales, indicating a positive impact from this strategic move [10] - The company noted substantial price cost pressure during the year, which is being addressed through pricing and cost improvement initiatives [19] Company Strategy and Development Direction - The company is focused on launching over 20 new programs this year, requiring significant investment and resources, with the aim of a clean start to fiscal '25 [7][20] - The strategic direction includes a strong emphasis on lighting and power solutions to drive business growth [8] - The company plans to resume share buybacks, having repurchased nearly $8 million in shares during the quarter [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that fiscal '24 is a pivotal year of investment and transition, with expectations for modest improvement in the second half of the fiscal year [7][12] - The outlook for fiscal '25 remains positive, supported by strong awards, but is dependent on EV OEM launch schedules and market recovery in e-bikes and commercial vehicles [20][26] - Management expressed confidence in the long-term growth of the EV market, despite near-term challenges related to program delays and take rate projections [20] Other Important Information - The expected net sales range for fiscal '25 has been revised down to $1.150 billion to $1.250 billion, primarily due to EV customer program delays [26] - The expected income from operations as a percentage of net sales for fiscal '25 is now projected to be 6% to 8%, down from 11% to 12% [26] Q&A Session Summary Question: What changed in expectations or actions not having the desired effect? - Management admitted to being overly optimistic about the timeline for corrective actions and acknowledged that operational issues were more complex than initially anticipated [29] Question: How are updated expectations for EV volumes incorporated into guidance? - Management conducted a deep dive into forecasting, considering customer feedback and market trends, which contributed to the revised guidance [54] Question: What was the trigger for the goodwill impairment? - The impairment was triggered when the market cap fell below the book value, necessitating a reassessment of goodwill [40][63]

FISCAL 2024 SECOND QUARTER FINANCIAL RESULTS December 7, 2023 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect, when made, our current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to our operations and business environment, which may cause our actual results to be materially different from any future resu ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended October 28, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______ Commission file number 001-33731 METHODE ELECTRONICS, INC. (Exact name of registrant as specified in its charter) Delaware ...

15 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect, when made, our current views with respect to current events and financial performance. Such forward-looking statements are subject to many risks, uncertainties and factors relating to our operations and business environment, which may cause our actual results to be materially different from any future results, expressed or implied, by such forward-looking statemen ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended July 29, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______ Commission file number 001-33731 METHODE ELECTRONICS, INC. (Exact name of registrant as specified in its charter) Delaware 36- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-33731 METHODE ELECTRONICS, INC. (Exact name of Registrant as specified in its charter) | | | (State or other jurisdict ...

Methode Electronics, Inc. (NYSE:MEI) Q4 2023 Results Conference Call June 22, 2023 11:00 AM ET Company Participants Robert Cherry - VP, IR Don Duda - President and CEO Ron Tsoumas - CFO Conference Call Participants John Franzreb - Sidoti & Company Gary Prestopino - Barrington Research Matt Sheerin - Stifel Operator Greetings, and welcome to the Methode Electronics Fourth Quarter and Full Year Fiscal 2023 Results Call. At this time, all participants are in a listen-only mode and a question-and-answer session ...