Methode Electronics(US:MEI)2024-12-05 19:08Financial Performance - Net sales reached $293 million[8], with xEV applications accounting for 20% of total consolidated net sales[7] - Adjusted EBITDA was $27 million, representing 9.1% of net sales[8, 27] - Adjusted pre-tax income was $6 million[8], resulting in an adjusted EPS of $0.14[8] - The company's cash and cash equivalents stood at $97 million, while total debt amounted to $341 million, leading to a net debt of $244 million[8] - Free cash flow was -$58.4 million[47] Business Highlights - Program awards exceeded $50 million, with a focus on EV-related projects[7] - The company is executing over 30 program launches in FY25 and expects over 20 in FY26[7] - EV applications represented 20% of total consolidated net sales and the company expects 20%+ for FY25[7] Guidance - The company reaffirmed its FY25 net sales guidance to be similar to fiscal 2024[49] - Adjusted pre-tax income guidance was raised to approximately breakeven for FY25[17, 49] - Capital expenditure is projected to be $45-$55 million, a decrease from the previous estimate of $50-$60 million[49]