Methode Electronics reports Q3 adjusted EPS (37c), consensus (20c)

Reports Q3 revenue $233.7M, consensus $219.47M. President and CEO Jon DeGaynor said, “We continue to make progress in our transformation journey, a multi-year effort to align our portfolio, refine our organization, optimize our footprint, and strengthen operational discipline. During the quarter, we finalized an agreement for the sale of our Harwood Heights facility and subsequent to the quarter-end, we completed the sale of dataMate, our copper transceiver business. These actions are tangible proof points of our commitment to simplify the organization, improve our cost structure, and sharpen our focus on key growth strategies, particularly in the area of power solutions.”