Recap: Methode Electronics Q3 Earnings

Methode Electronics 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.

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.

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).

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.