Slide 1: Fiscal 2024 Third Quarter Financial Results
FISCAL 2024 THIRD QUARTER FINANCIAL RESULTS March 7, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities • Impact from production delays or cancelled orders; Litigation Reform Act of 1995 that reflect, when made, our current views with respect to current • Investment in programs
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the company's financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), Methode uses Adjusted Net Income (Loss), Adjusted Earnings (Loss) Per Share, Adjusted Pre-Tax Income (Loss), Adjusted Inco
Slide 4: Introduction – Avi Avula, President & CEO
Introduction – Avi Avula, President & CEO Over 20 years of experience in the electronics industry serving the consumer electronics, telecom, automotive, industrial and aerospace markets Over 17 years in leadership positions at leading science and engineering companies Previous experience at Du
Slide 5: FY24 Q3 Highlights
FY24 Q3 Highlights Quarterly Performance Electric Vehicle Activity Sales of $260M 19% of Consolidated Sales, 20% YTD Auto Sales Down in All Regions Headwind Due to Transition in Programs Net Loss Driven by Lower Sales and Operational Challenges Near-Term Market Outlook Soft Business Activity Balance
Slide 6: Summary
Summary FY24 Q3 Sales under pressure from auto program roll-offs and market headwinds in EV, e-bike, and data center markets Lower sales volume and persistent operational inefficiencies in Automotive drove net loss Returned to positive free cash flow position Continued share buyback with $3M
Slide 7: Financial Results
QAETHODE ELECTRONICS Financial Results
Slide 8: FY24 Q3 Net Sales & Income from Operations
FY24 Q3 Net Sales & Income from Operations Net Sales Income/(Loss) Adjusted ($M) from Operations Income/(Loss) ($M) from Operations* (7%) ($M) (111%) (111%) $280.1 $259.5 $27.3 $27.3 ($3.0) ($2.9) FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 − Auto Program Roll-Offs − Lower Sales Volume FY24 Q3 E
Slide 9: FY24 Q3 Earnings Per Share & EBITDA
FY24 Q3 Earnings Per Share & EBITDA Diluted Earnings Adjusted Diluted EBITDA* Adjusted EBITDA* per Share Earnings per Share* ($M) ($M) ($) ($) (74%) (74%) (161%) (161%) $0.54 $0.54 $36.1 $36.1 ($0.33) ($0.33) $9.4 $9.5 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 − Lower Operating
Slide 10: FY24 Q3 Balance Sheet
FY24 Q3 Balance Sheet Debt Cash and Cash Net Debt* ($M) Equivalents ($M) ($M) $24.5 $331.3 $58.6 $306.8 ($34.1) $157.0 $208.4 $122.9 $149.8 FY23 Q4 FY24 Q3 FY23 Q4 FY24 Q3 FY23 Q4 FY24 Q3 10 Debt Increase Mainly Driven by Capital Investments * See Appendix for reconciliation to GAAP
Slide 11: FY24 Q3 Free Cash Flow
FY24 Q3 Free Cash Flow Net Cash Provided by Capital Free Cash Flow* Operating Activities Expenditure ($M) ($M) ($M) ($26.9) ($30.7) $3.8 $55.7 $42.9 $28.8 $12.8 $16.6 $12.2 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 11 After Negative First Half, Returned to Positive Free Cash Flow in Q3 * See A
Slide 12: Thank You
AETHODE ELECTRONICS Thank You
Slide 13: Appendix: Reconciliation of Non-GAAP Measures
METHODE ELECTRONICS, INC. AND SUBSIDIARIES Appendix RECONCILIATION OF NON-GAAP MEASURES (Unaudited) (in millions) Three Months Ended Nine Months Ended January 27, January 28, January 27, January 28, 2024 2023 2024 2023 EBITDA: Net (loss) income $ (11.6) $ 19.9 $ (66.0) $ 69.0 Income tax expense 1.1
Slide 14: Appendix: Reconciliation of Non-GAAP Measures
Appendix METHODE ELECTRONICS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (Unaudited) (in millions, except per share data) Reconciliation of Non-GAAP Financial Measures for the Three Months Ended January 27, 2024 Purchase accounting adjustments Loss on sale U.S. GAAP Goodwill Acquisiti
Slide 15: Appendix: Reconciliation of Non-GAAP Measures
Appendix METHODE ELECTRONICS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP MEASURES (Unaudited) (in millions, except per share data) Reconciliation of Non-GAAP Financial Measures for the Nine Months Ended January 27, 2024 Purchase accounting adjustments Loss on sale U.S. GAAP Goodwill Acquisitio