Methode Electronics reported a 10.4% increase in first-quarter fiscal 2027 sales, driven by industrial-segment momentum in data center power distribution and off-road lighting, while management reaffirmed its full-year outlook and detailed further operational restructuring efforts. Net sales totaled $265.4 million, with gross profit rising to $47.7 million from $43.5 million, though the company posted an adjusted net loss of $7.7 million, or $0.22 per diluted share, unchanged from a year earlier. Industrial sales jumped 27% to $156.8 million, with operating income up 19% to $31.6 million, while automotive sales slipped 0.4% to $105.7 million and interface sales fell 73% to $2.9 million following the DataMate divestiture. Management highlighted Mexico restructuring, where facilities posted more than 500 basis points of margin improvement, and new awards representing $75 million in peak annual revenue and about $400 million in lifetime revenue, mostly for hybrid vehicle applications with new automotive customers. The company reaffirmed fiscal 2027 guidance for net sales of $1.025 billion to $1.075 billion and adjusted EBITDA of $72 million to $82 million, and reduced total debt to $310.5 million from $325 million at fiscal year-end.
Methode Electronics IncIndustrial sales jumped 27% on data center power distribution and off-road lighting, with new awards adding $75M peak annual revenue.
