1. A diversified B2B supplier of specialized electronic and electro-mechanical components and subsystems for a wide range of industries, much like a smaller TE Connectivity.

2. They're a critical behind-the-scenes manufacturer that supplies the specialized electronic 'brains and brawn' for cars, industrial equipment, and data centers, much like a diversified version of Aptiv, but for more than just vehicles.

• Automotive Control Devices: Includes integrated center consoles, hidden switches, ergonomic switches, and transmission lead-frames for vehicle original equipment manufacturers.
• Automotive Sensing & Lighting: LED-based lighting and sensors that incorporate magneto-elastic sensing technology for monitoring vehicle operations.
• Industrial Lighting Solutions: Manufacturing of lighting solutions for diverse markets and applications.
• Industrial Safety Radio Remote Controls: Remote control systems designed for industrial safety applications.
• Braided Flexible Cables: Flexible electrical cables used across various industrial and commercial applications.
• Busbars and Power Products: Current-carrying laminated and powder-coated busbars, custom power-product assemblies, and flexible power cabling systems.
• Copper-based Transceivers: Devices and related accessories for cloud computing hardware and telecommunications broadband equipment.
• User Interface Solutions: Custom user interface solutions for the appliance, commercial food service, and point-of-sale equipment markets.
• Fluid-Level Sensors: Sensors designed for marine/recreational vehicle and sump pump applications.
• Dabir Surfaces: A medical surface support technology aimed at pressure injury prevention for immobilized patients.

Major Customers of Methode Electronics (MEI)

Methode Electronics, Inc. (MEI) primarily sells its products and solutions to other companies (Business-to-Business or B2B) across various industries. The provided company description outlines the categories of customers and markets it serves, rather than listing specific major customer companies by name.

Based on the company's operational segments, its major customer categories include:

• Automotive Original Equipment Manufacturers (OEMs) and their Tiered Suppliers: These customers integrate Methode's electronic and electro-mechanical devices, such as integrated center consoles, hidden switches, transmission lead-frames, and LED-based lighting and sensors, into their vehicles.
• Companies in Diverse Industrial Markets: This broad category encompasses customers in aerospace, commercial vehicles, computers, general industrial applications, power conversion, military, telecommunications, and transportation sectors, for which Methode supplies lighting solutions, industrial safety remote controls, flexible cables, busbars, and custom power-product assemblies.
• Manufacturers of Computing, Telecommunications, Appliance, and Marine/RV Equipment: This segment serves companies producing cloud computing hardware, telecommunications broadband equipment, user interface solutions for appliances, commercial food service equipment, point-of-sale equipment, and fluid-level sensors for the marine/recreational vehicle and sump pump markets.
• Healthcare Providers: While the Dabir Surfaces technology is aimed at pressure injury prevention for patients, the direct customers are typically healthcare facilities, such as hospitals or clinics, or medical device distributors.

Jon DeGaynor - President and Chief Executive Officer

Jon DeGaynor was appointed President and Chief Executive Officer of Methode Electronics in July 2024. He has a 35-year career in engineered-products businesses, primarily in the automotive and manufacturing industries. Prior to joining Methode, he served as President and CEO of Stoneridge, Inc., a publicly traded global designer and manufacturer of highly engineered electrical and electronic systems, components, and modules for the automotive industry, from 2015 to 2023. At Stoneridge, he led a team that developed and executed a strategic shift, driving significant growth and value creation. Since 2023, he has also been the Executive Chairman of Racing and Performance, Inc., an automotive performance systems supplier. Earlier in his career, he was Vice President of Strategic Planning and Innovation at Guardian Industries Corp.

Laura Kowalchik - Chief Financial Officer

Laura Kowalchik became Chief Financial Officer of Methode Electronics on October 1, 2024. She brings over 25 years of experience in strategic and financial management within the automotive and industrial sectors, having held roles at both public and private companies. Before joining Methode, Ms. Kowalchik served as the CFO of Communication & Power Industries (CPI) from 2023 to 2024. Prior to CPI, she was the CFO of Dayco Products, LLC from 2019 to 2023. Her career also includes senior financial management positions at Kenwal Steel Corp., Urban Science, and Kaydon Corporation.

Joseph Elias Khoury - Senior Vice President

Joseph Elias Khoury has served as Senior Vice President at Methode Electronics since 2015. He previously held the role of Chief Operating Officer for Methode Electronics Inc. Dr. Khoury's tenure at Methode also includes serving as General Manager of European Automotive and Vice President of Europe since 2004, and General Manager of Methode Electronics International, GMBH since 2000. He is recognized for playing a pivotal role in establishing new facilities for the company worldwide, including in China, Mexico, and Egypt. Before his time at Methode, Dr. Khoury served as Chief Engineer at EATON. He holds several patents related to manufacturing processes, value engineering, and quality assurance.

John T. Erwin - Chief Procurement and EHS Officer

John T. Erwin serves as the Chief Procurement and EHS Officer at Methode Electronics. In this role, he oversees the company's worldwide procurement operations, focusing on streamlining processes and driving cost efficiencies. His appointment is part of Methode's strategy to leverage its global procurement to support growth and enhance shareholder value.

Lars Ullrich - Senior Vice President, Global Automotive Business

Lars Ullrich has served as Methode Electronics' Senior Vice President, Global Automotive Business since December 2024.

The key risks to Methode Electronics (MEI) are:

1. Operational Inefficiencies, Production Delays, and Quality Issues: Methode Electronics has recently faced significant challenges related to production delays, quality problems at its Monterrey factory, and operational inefficiencies, particularly within its Automotive segment in North America. These issues have led to increased operational expenses, labor turnover, and substantial financial losses, contributing to a decline in net income and profitability. The company is incurring significant costs to launch new programs and build out capacity, but these costs are materializing faster than the associated revenue.

2. High Dependence on the Cyclical and Transforming Automotive Industry: A substantial portion of Methode Electronics' revenue is derived from the automotive industry, which is inherently cyclical and sensitive to broader economic conditions, consumer confidence, and preferences. The company is particularly vulnerable to "old program roll-offs" and lower sales volumes of sensor and user interface products. Furthermore, delays and volume reductions in North American electric vehicle (EV) programs pose an ongoing headwind, despite the company's efforts to transition towards higher-margin niches within the evolving automotive sector.

3. Legal and Regulatory Risks: Methode Electronics is currently subject to an ongoing U.S. Securities and Exchange Commission (SEC) investigation, following subpoenas seeking documents and information related to its operations in certain foreign countries, compliance with the Foreign Corrupt Practices Act (FCPA) and other anti-corruption laws, and reported material weaknesses in its internal controls over financial reporting. The SEC's inquiry has expanded to include accounting and finance policies, financial metrics, executive compensation, and complaints. Potential fines from FCPA violations could be substantial and severely impact the company's financial stability, especially given its recent negative earnings. The situation has also been aggravated by a shareholder lawsuit.

The clear emerging threats for Methode Electronics (MEI) are:

• The accelerated global shift towards Electric Vehicles (EVs) poses a threat to the Automotive segment's products like "transmission lead-frames," which are essential components in traditional internal combustion engine (ICE) vehicles but are largely absent or different in EV drivetrains.
• The ongoing industry transition from copper-based networking to fiber optics for high-speed data transmission in the cloud computing hardware and telecommunications broadband equipment markets, which could diminish demand for the Interface segment's "copper based transceivers."

Automotive Segment

• Integrated Center Consoles: The global automotive center console market was valued at USD 46.24 billion in 2024 and is projected to reach USD 72.36 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.
• Switches (Hidden and Ergonomic): The global automotive switches market size was valued at USD 48.47 billion in 2025 and is projected to grow from USD 50.73 billion in 2026 to USD 84.15 billion by 2034.
• LED-based Lighting: The global automotive lighting market was valued at USD 39.5 billion in 2025 and is expected to grow to USD 88.3 billion in 2035, at a CAGR of 8.7% during the forecast period.
• Sensors (including magneto-elastic sensing): The global automotive sensor market size was valued at USD 43.46 billion in 2025 and is expected to hit around USD 94.01 billion by 2035, expanding at a CAGR of 8.02% from 2026 to 2035.

Industrial Segment

• Lighting Solutions: The global industrial lighting market size was valued at USD 15.20 billion in 2024 and is anticipated to reach USD 27.47 billion by 2033, at a CAGR of 6.8% during the forecast period (2025–2033).
• Industrial Safety Radio Remote Controls: The Global Industrial Wireless Remote Control Market was valued at USD 1.37 billion in 2024, and is expected to grow at a CAGR of 7.45% from 2025 to 2032, reaching nearly USD 2.43 billion.
• Busbars (including braided flexible cables, current-carrying laminated busbars, custom power-product assemblies like PowerRail solution, high-current low-voltage flexible power cabling systems, and powder-coated busbars): The global busbar market size was valued at USD 20,123.52 million (USD 20.12 billion) in 2025 and is poised to grow to USD 29,303.92 million (USD 29.30 billion) by 2033, growing at a CAGR of 4.81% during the forecast period (2026–2033).

Interface Segment

• Copper-based Transceivers and related accessories for cloud computing hardware and telecommunications broadband equipment: The Global Data Center Interconnect (DCI) Market is projected to reach USD 14.6 billion in 2025 and grow at a 20.7% CAGR through 2034, ultimately hitting USD 79.4 billion.
• User interface solutions for the appliance, commercial food service, and point-of-sale equipment markets: Null
• Fluid-level Sensors (for marine/recreational vehicle and sump pump markets): The global fluid sensors market size is calculated at USD 17.97 billion in 2025 and is predicted to increase from USD 19.25 billion in 2026 to approximately USD 35.43 billion by 2035, expanding at a CAGR of 7.02% from 2026 to 2035.

Medical Segment

• Dabir Surfaces (pressure injury prevention): The global pressure ulcer device market is estimated at US$ 5.46 billion in 2024, projected to grow steadily with a 5.6% CAGR through 2034, reaching a valuation of US$ 9.38 billion by 2034.

Methode Electronics (MEI) anticipates several key drivers to fuel its revenue growth over the next two to three years:

• Growth in Industrial Power Solutions and Data Center Market: Methode Electronics expects continued momentum in its Industrial Power Solutions segment, particularly for power distribution products used in data centers and industrial applications. The company is making new engineering and commercial investments to capitalize on secular growth driven by increased electrification and data infrastructure demand. Management has indicated a "line of sight toward $120 million annualized run rate" for data center revenue in Q4 of a recent fiscal year, projecting a "50% increase in run rate year-over-year in the near term."
• Launch and Scaling of New Programs: Methode Electronics is undertaking a significant number of new program launches across its segments. The company expects over 30 new programs in fiscal year 2025 and an additional 20+ in fiscal year 2026. These launches are considered crucial for offsetting the impact of expiring legacy contracts and are aligned with major market trends.
• Long-Term Growth in Electric Vehicle (EV) Programs: Despite experiencing near-term headwinds such as program delays and volume reductions in the automotive segment, the long-term outlook for Methode's EV programs remains positive. The company continues to expand with new EV launches for customers like GM and anticipates a rebound in EV sales after a transition period, with EV sales projected to grow beyond 20% of total sales for the full fiscal year 2025.
• Strategic Portfolio Shift and Diversification: Methode Electronics is actively pursuing a deliberate portfolio shift towards higher-return markets and diversifying its revenue streams. This strategy involves reallocating resources to areas outside its traditional core automotive business, focusing on megatrends, and divesting non-core assets, such as the dataMate copper transceiver business, to redeploy capital into higher-growth opportunities. This strategic realignment aims to enhance revenue resilience and reduce reliance on legacy automotive business.
• Expansion in Industrial Lighting Solutions: Within the Industrial segment, Methode Electronics is experiencing strong growth in its lighting solutions, particularly for off-road equipment markets. This area is identified as a near-term growth focus and contributes to the overall strength of the Industrial segment, helping to offset weaknesses in other markets.

Share Repurchases

• Methode Electronics' board of directors authorized a new share buyback program of up to $100 million through March 31, 2023, on March 31, 2021.
• On June 16, 2022, the board increased the existing share buyback program by an additional $100 million, extending it to June 14, 2024, making the total program authorization $200 million. As of April 30, 2022, $71.2 million had been purchased under this authorization.
• A new share buyback program was authorized on June 13, 2024, allowing the purchase of up to $200 million of outstanding common stock from June 17, 2024, through June 17, 2026.

Share Issuance

• Methode Electronics issued new shares as its quarterly shares outstanding increased from 35.2 million in July 2025 to 35.4 million in October 2025.
• The company's annual shares outstanding also increased from 35.3 million in April 2024 to 35.8 million in April 2025, indicating further share issuances.

Outbound Investments

• On April 20, 2023, Methode acquired 92.2% of Nordic Lights Group Corporation, a provider of high-quality lighting solutions for heavy-duty equipment, for €121.8 million ($134.2 million) in cash.
• Between May 1, 2023, and June 16, 2023, an additional 7.2% of Nordic Lights was acquired for €9.3 million ($10.2 million), bringing Methode's total ownership to 99.4%.
• Methode Electronics sold its dataMate copper transceiver business to Bel Fuse for $16 million, including $1 million of deferred consideration, on March 5, 2026, as part of a strategy to focus on high-density power delivery products for data centers.

Capital Expenditures

• Capital expenditures for fiscal year 2025 were $42 million.
• For fiscal year 2026, capital expenditures are projected to be lower, in the range of $24 million to $29 million, representing an approximate 16.5% reduction year-over-year.
• The company is focusing on disciplined capital spending, prioritizing cash generation and debt reduction while repositioning towards higher-growth power and data center markets.