Methode Electronics (NYSE:MEI) reported its Q3 earnings results on Thursday, March 3, 2022 at 07:00 AM.
Here's what investors need to know about the announcement.
Earnings
Methode Electronics beat estimated earnings by 9.72%, reporting an EPS of $0.79 versus an estimate of $0.72.
Revenue was down $3.70 million from the same period last year.
Past Earnings Performance
Last quarter the company missed on EPS by $0.01 which was followed by a 2.52% increase in the share price the next day.
Here's a look at Methode Electronics's past performance:
| Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.73 | 0.74 | 0.70 | 0.79 |
| EPS Actual | 0.72 | 0.76 | 0.81 | 0.83 |
| Revenue Estimate | 275.80M | 281.51M | 280.05M | 277.70M |
| Revenue Actual | 295.50M | 287.80M | 301.00M | 295.30M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Methode Electronics management provided guidance for their next quarter, expecting earnings between $3.05 and $3.15 per share for the next quarter.
This represents a 292.41% in quarter-over-quarter growth for Methode Electronics, a bullish signal to many investors.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
