Methode (MEI) Reports Q1 Loss, Beats Revenue Estimates

Methode Electronics (MEI) reported a quarterly loss of $0.22 per share, beating consensus estimates of $0.47 loss, representing a 53.19% earnings surprise. Revenue of $265.4 million also exceeded expectations by 12.61%. The stock has gained 175.9% year-to-date, significantly outperforming the S&P 500's 11.5% gain. However, the company holds a Zacks Rank #3 (Hold) rating with mixed estimate revisions. Descartes Systems (DSGX) is expected to report results on September 10 with anticipated earnings of $0.57 per share, up 32.6% year-over-year.