Methode Electronics：2025年季度报告

FORM10-Q (Mark One) ☒Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period endedAugust 2,2025 or Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from ______ to ______ Commission file number001-33731 (Exact name of registrant as specified in its charter) 36-2090085(I.R.S. EmployerIdentification No.)60631-3518(Zip Code) Delaware(State or other jurisdiction of (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Title of each ClassTrading Symbol(s)Name of each exchange on which registeredCommon Stock, $0.50 Par ValueMEINew York Stock Exchange Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☐Emerging growth company☐ Accelerated filer☒Smaller reportingcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Securities Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒At September 5, 2025, the registrant had35,217,142shares of common stock outstanding. METHODE ELECTRONICS, INC.INDEX Item 1.Financial StatementsCondensed Consolidated Statements of Operations (unaudited) - Three Months Ended August 2, 2025 andJuly 27, 20242Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) -Three Months EndedAugust 2, 2025 and July 27, 20243Condensed Consolidated Balance Sheets as of August 2, 2025 (unaudited) and May 3, 20254Condensed Consolidated Statements of Shareholders’ Equity (unaudited) -Three Months Ended August 2,2025 and July 27, 20245Condensed Consolidated Statements of Cash Flows (unaudited) -Three Months Ended August 2, 2025 andJuly 27, 20246Notes to Condensed Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23Item 3.Quantitative and Qualitative Disclosures About Market Risk30Item 4.Controls and Procedures30PART II.OTHER INFORMATIONItem 1.Legal Proceedings31Item 1A.Risk Factors31Item 2.Unregistered Sales of Equity Securities and Use of Proceeds31Item 3.Defaults Upon Senior Securities32Item 5.Other Information32Item 6.Exhibits33SIGNATURES34 PART I. FINANCIAL INFORMATION METHODE ELECTRONICS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATEDSTATEMENTS OF OPERATIONS (Unaudited)(in millions, except per share data) See notes to condensed consolidated financial statements. Table of Contents METHODE ELECTRONICS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)(in millions) METHODE ELECTRONICS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in millions, except share and per share data) METHODE ELECTRONICS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited)(in millions, except share data) METHODE ELECTRONICS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(in millions) Three Months EndedAugust 2, 2025July 27, 2024(13 Weeks)(13 Weeks)Operating activities:Net loss$(10.3)$(18.3)Adjustments to reconcile net loss to net cash provided by operating activities:Depreciation and amortization14.914.1Stock-based compensation expense1.22.2Amortization of debt issuance costs0.30.2Partial write-off of unamortized debt issuance costs0.61.2Gain on sale of property, plant and equipment(0.5)—Impairment of long-lived assets—0.3Inventory obsolescence1.72.0Change in deferred income taxes0.5(0.5)Other(1.0)0.3Changes in operating assets and liabilities:Accounts receivable28.314.4Inventories2.8(35.1)Prepaid expenses and other assets6.2(5.8)Accounts payable(6.2)32.4Other liabilities(13.4)3.5Net cash provided by operating activities25.110.9 METHODE ELECTRONICS, INC.