<!DOCTYPE html><html lang="en"><head><meta http-equiv="origin-trial" content="A/kargTFyk8MR5ueravczef/wIlTkbVk1qXQesp39nV+xNECPdLBVeYffxrM8TmZT6RArWGQVCJ0LRivD7glcAUAAACQeyJvcmlnaW4iOiJodHRwczovL2dvb2dsZS5jb206NDQzIiwiZmVhdHVyZSI6IkRpc2FibGVUaGlyZFBhcnR5U3RvcmFnZVBhcnRpdGlvbmluZzIiLCJleHBpcnkiOjE3NDIzNDIzOTksImlzU3ViZG9tYWluIjp0cnVlLCJpc1RoaXJkUGFydHkiOnRydWV9">
  
<script type="text/javascript" async="" src="https://www.google-analytics.com/analytics.js"></script><script type="text/javascript" async="" src="https://www.googletagmanager.com/gtag/js?id=UA-113590965-4&amp;l=dataLayer&amp;cx=c"></script><script type="text/javascript" async="" charset="utf-8" src="https://www.gstatic.com/recaptcha/releases/EGbODne6buzpTnWrrBprcfAY/recaptcha__en.js" crossorigin="anonymous" integrity="sha384-zYfvuq6xV6aLevocYkVfLId59jcIkDZniQX2TsTt9LIa0Tf1ORHFh4oKI1naLgGF"></script><script async="" src="https://www.googletagmanager.com/gtag/js?id=G-REPSH58KSM"></script>


<script async="" src="https://www.googletagmanager.com/gtm.js?id=GTM-5KBPWNG"></script>


<meta charset="utf-8">
<meta http-equiv="content-language" content="en">
<meta name="google" content="notranslate">
<title>MEI - Earnings call transcript Q1 2025 | Methode Electronics, Inc.</title>

<meta property="og:title" content="MEI - Earnings call transcript Q1 2025">
<meta property="og:description" content="2025 Q1 earnings call transcript for Methode Electronics, Inc.">
<meta property="og:image" content="https://capedge.com/files/LOGO/65270-MEI.png">
<meta property="og:url" content="https://capedge.com/transcript/65270/2025Q1/MEI">

<meta property="og:type" content="website">
<meta name="twitter:card" content="summary_large_image">

<meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no, shrink-to-fit=no">
<link rel="stylesheet" href="/css/style.css?v=20240910T035033">
<link rel="icon" sizes="32x32" type="image/png" href="/img/icon-200.png">
<link rel="apple-touch-icon" sizes="200x200" href="/img/icon-200.png">
<link rel="canonical" href="https://capedge.com/transcript/65270/2025Q1/MEI">



</head>
<body class="plan-free no-sidebar-wrap">

  <a name="pageTop" id="pageTop"></a>

  <div id="alert-container"></div>

  <div class="d-lg-none" id="mobile-mode-canary"></div>

  <div id="main-container">

    <div id="above-footer">

      <div class="container">

        <div class="row align-items-center py-3 py-lg-2 d-print-none">
          <div class="col-4 col-lg-3 order-1 pr-0">
            <a href="/user/dashboard" id="logo-container"><img src="/img/capedge-logo-by-finsight.svg?v=20240910T035033" alt="CapEdge" width="174" height="37"></a>
          </div>
          <div class="col-12 col-lg order-3 order-lg-2 pt-3 pt-lg-0">
            
<form action="/search" method="get" id="mainSearchForm" spellcheck="false" autocomplete="off" role="search">
    <div class="input-group">
        <div class="tokenInput tokeninput-container tokeninput-empty flex-grow-1 form-control header-search">
            <input id="searchInput" type="search" name="q" placeholder="Search by ticker, company or words in SEC filings" value="" tabindex="1" autocomplete="off" autocorrect="off" autocapitalize="off" style="width: 100%;">
            <script class="tokeninput-data" type="application/json">
            {
                "resultDataProp":"suggestions",
                "resultTextProp":"name",
                "resultValueProp":"value",
                "url":"/search/suggestions?profiles=true&q=$query&ctxType=company&ctxVal=65270",
                "values":[],
                "type":"lookup",
                "completionGroups" : {
                    "profiles" : { "heading" : "Filing Profile", "newOption" : false },
                    "searches" : { "heading" : "Search Across Filings, News and Transcripts", "newOption" : false }
                },
                "autoSuggestMode":true
            }
            </script>
        </div>
        <div id="searchLoading">Loading</div>
        <div id="searchAdvanced" class="d-none"><a href="/help/search" tabindex="2">Advanced</a></div>
    </div>
</form>

          </div>
          <div class="col-8 col-lg-3 order-2 order-lg-3">
            

<div class="d-flex justify-content-end align-items-center user-action-buttons">
	
	<a href="https://help.capedge.com/release-notes/" target="_blank" class="mr-4 text-decoration-none header-help-link"><span class="d-xxl-none"><i class="fe fe-help-circle d-block"></i></span><span class="d-none d-xxl-block"><i class="fe fe-info"></i> What's new?</span></a>

	<div class="btn-toolbar align-items-center" role="toolbar" id="favourites-toolbar">
		<div class="btn-group" role="group">
			
					<button type="button" id="btn-toggle-favourites" class="btn top-level active" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="favourites-col" data-original-title="Toggle favorites"><i class="fe fe-star"></i></button>
				
					<button type="button" id="btn-toggle-alerts" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="alerts-col" data-original-title="Toggle alert feed"><i class="fe fe-bell"></i></button>
				
					<button type="button" id="btn-toggle-notes" class="btn top-level" data-toggle="tooltip" data-placement="bottom" title="" data-click-toggle="notes-col" data-original-title="Toggle note list"><i class="fe fe-edit"></i></button>
				
			<div class="btn-group" role="group">
				<button class="btn top-level dropdown-toggle user-plan-free" type="button" data-toggle="dropdown" aria-haspopup="true" aria-expanded="false">TS</button>
				<div class="dropdown-menu dropdown-menu-right">
					<a class="dropdown-item" href="/user/edit">
						<i class="dropdown-icon fe fe-user"></i>Edit profile
					</a>
					<a class="dropdown-item" href="/user/changepassword">
						<i class="dropdown-icon fe fe-shield"></i>Change password
					</a>
					<a class="dropdown-item" href="/user/settings">
						<i class="dropdown-icon fe fe-sliders"></i>Email settings
					</a>
					<a class="dropdown-item" href="/user/myaccount">
						<i class="dropdown-icon fe fe-info"></i>Manage my account
					</a>
					<a class="dropdown-item" href="/user/support">
						<i class="dropdown-icon fe fe-life-buoy"></i>Support
					</a>
					<div class="dropdown-divider"></div>
					<div class="dropdown-item">
						<form action="/user/logout" method="post">
							<button type="submit" class="btn btn-sm btn-outline-primary w-100">Logout</button>
						</form>
					</div>
				</div>
			</div>
		</div>
	</div>
</div>



          </div>
        </div>

        
<div class="row d-print-none">
    <div class="col">
        <ul class="nav nav-tabs align-items-center" id="primary-menu" data-test="menuMain">
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/">Home</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/sector"><span class="d-none d-lg-inline">Sectors &amp; Industries</span><span class="d-lg-none">Sectors</span></a>
			</li>
			
			<li class="nav-item separator"></li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/earnings-calendar">Earnings</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/ipo-calendar">IPOs</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/spacs">SPACs</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/transcript/by/companyId/all">Transcripts</a>
			</li>
			
			<li class="nav-item separator"></li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/insider">Insider</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/institutional">Institutional</a>
			</li>
			
			<li class="nav-item separator"></li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/crypto">Crypto</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/screener/stock">Screeners</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/social">Reddit</a>
			</li>
			
			
			<li class="nav-item" data-test="menuMainItem">
				<a class="nav-link" href="/stock-split-calendar">Splits</a>
			</li>
			
			
			<li class="nav-item right" data-test="menuMainItem">
				<a class="nav-link" href="/user/dashboard">My Dashboard</a>
			</li>
			
			
		</ul>
	</div>
</div>

        
        <div class="row flex-nowrap pb-5" id="columns-row" data-open="1">

            
            <div class="col order-2 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none " id="favourites-col">
              
<div class="">
	<div class="btn-toolbar align-items-center w-100" role="toolbar" id="favourites-toolbar">
		<div class="mr-auto toolbar-title" data-count="0">Favorites</div>
		<div class="btn-group" role="group">
			<button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAddFavourite"><i class="fe fe-plus-circle"></i></button>
			<button type="button" class="btn btn-sm d-md-none" data-click-toggle="favourites-col"><i class="fe fe-x"></i></button>
		</div>
	</div>
</div>

<div class="br">
	<ul id="favourites-list" class="list-unstyled mb-0 w-100 empty-placeholder" data-count="0"></ul>
</div>
            </div>
            <div class="col order-3 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none  collapsed" id="alerts-col">
              <div class="">
	<div class="btn-toolbar align-items-center w-100" role="toolbar" id="alerts-toolbar">
		<div class="mr-auto toolbar-title">Alert feed</div>
		<div class="btn-group" role="group">
			<button type="button" class="btn btn-sm" data-toggle="modal" data-target="#modalAlertSettings" id="btn-alert-config"><i class="fe fe-settings"></i></button>
			<button type="button" class="btn btn-sm d-md-none" data-click-toggle="alerts-col"><i class="fe fe-x"></i></button>
		</div>
	</div>
</div>

<div class="br">
	<ul id="alerts-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder">
    </ul>

</div>
            </div>
            <div class="col order-4 sticky-scrolly user-feed-col mobile-toggle-only-one d-print-none  collapsed" id="notes-col">
              
<div>
	<div class="btn-toolbar align-items-center w-100" role="toolbar" id="notes-toolbar">
		<div class="mr-auto toolbar-title" data-count="0">Notes</div>
		<div class="btn-group" role="group">
			<div>
				<div id="add-note-recaptcha" class="g-recaptcha" data-sitekey="6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol" data-callback="recaptchaAddNote" data-size="invisible"><div class="grecaptcha-badge" data-style="bottomright" style="width: 256px; height: 60px; display: block; transition: right 0.3s; position: fixed; bottom: 14px; right: -186px; box-shadow: gray 0px 0px 5px; border-radius: 2px; overflow: hidden;"><div class="grecaptcha-logo"><iframe title="reCAPTCHA" width="256" height="60" role="presentation" name="a-ldmich5w61zh" frameborder="0" scrolling="no" sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox allow-storage-access-by-user-activation" src="https://www.google.com/recaptcha/api2/anchor?ar=1&amp;k=6Le1YlooAAAAAIpAmJQ9Vu8FsSGGsncij4tpVSol&amp;co=aHR0cHM6Ly9jYXBlZGdlLmNvbTo0NDM.&amp;hl=en&amp;v=EGbODne6buzpTnWrrBprcfAY&amp;size=invisible&amp;cb=xfi1vpuhdf50"></iframe></div><div class="grecaptcha-error"></div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea></div><iframe style="display: none;"></iframe></div>
				<button type="button" class="btn btn-sm prevent-double-click" id="add-note-button"><i class="fe fe-plus-circle"></i></button>
			</div>
			<div class="dropdown" id="note-sort">
				<button class="btn btn-sm" type="button" id="dropdownMenuButton" data-toggle="dropdown">
					<i class="fe fe-settings"></i>
				</button>
				<div class="dropdown-menu dropdown-menu-right">
					<h6 class="dropdown-header">Sort notes by</h6>
					
					<button class="dropdown-item active" data-sort="created">Created</button>
					
					<button class="dropdown-item" data-sort="updated">Updated</button>
					
					<button class="dropdown-item" data-sort="title">Alphabetical</button>
					
				</div>
			</div>
			<button type="button" class="btn btn-sm d-md-none" data-click-toggle="notes-col"><i class="fe fe-x"></i></button>
		</div>
	</div>
</div>

<div class="br">
	<ul id="notes-list" class="list-unstyled mb-0 block-list w-100 empty-placeholder" data-limit="" data-count="0" data-num-displayed="" data-per-page="20"></ul>
	<div id="note-list-end"></div>
</div>
            </div>
            

            <div class="col order-1 resp-container resp-sm resp-md resp-lg" id="main-col" data-observe-resizes="true">

              <div class="d-flex flex-column">
                
                  
<div class="row mb-3 d-print-none secondary-menu-row order-2">
    <div class="col">
        <ul class="nav nav-tabs align-items-center px-4" id="secondary-menu" data-test="secondaryMenu">
            
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI">
                        <span class="tab-ticker">MEI</span> Dashboard
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/financials">
                        Financials
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/filings">
                        Filings
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/transcript/by/companyId/65270">
                        Transcripts
                    </a>
                </li>
                
                <li class="nav-item separator"></li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/etfs">
                        ETFs
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/insider-ownership-history">
                        Insider
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/institutional-ownership-history">
                        Institutional
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/short-interest">
                        Shorts
                    </a>
                </li>
                
                <li class="nav-item separator"></li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/company/65270/MEI/news">
                        News
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/patent/by/companyId/65270">
                        Patents
                    </a>
                </li>
                
                
                <li class="nav-item " data-test="secondaryMenuItem">
                    <a class="nav-link" href="/social/by/companyId/65270">
                        Reddit
                    </a>
                </li>
                
                
                <li class="nav-item active" data-test="secondaryMenuItem">
                    <div class="nav-link" href="https://capedge.com/transcript/65270/2025Q1/MEI">
                        2025 Q1 Transcript
                    </div>
                </li>
                
                
        </ul>
    </div>
</div>
                  

                
                  
<div class="row align-items-center py-6">
    <div class="col">
        <h1 class="page-title" data-test="pageTitle">
            
                <span class="company-name">
                    Methode Electronics
                    
                        (MEI)
                        
                </span>
                
                
            
            <span class="banner-crumb">5 Sep 24</span><span class="banner-crumb">2025 Q1 Earnings call transcript</span>
        </h1>
        
        
        <div class="my-1 text-muted-dark">
            
            Company Profile
            
        </div>
        
    </div>
    
    
</div>

                
              </div>

              <div class="row" id="main-content-cols">
                
                <div class="col order-1 sticky-scrolly mobile-toggle-only-one d-print-none  default-sidebar-column" id="sidebar-col">
                  <div class="text-center mb-5 mobile-toggle-button-cont"><button type="button" class="btn btn-sm btn-outline-primary ml-auto" data-click-toggle="sidebar-col">&lt; Back</button></div>
                  <div class="transcript-sidebar">
    <div class="sidebar-annotations-container"><div class="annotator-editor card" style="display: none;">
  <form>
    <div class="card-header"><div class="card-title not-in-menu"><div class="d-block">Add <span class="annotation-type"></span></div></div></div>
    <div class="card-body">
      <ul class="annotator-listing"><li class="annotator-field form-group"><div class="quote" id="annotator-field-0" placeholder="Quote"></div></li><li class="annotator-field form-group"><textarea rows="3" class="form-control" id="annotator-field-1" placeholder="Comments…"></textarea></li><li class="annotator-field form-group"><label class="custom-switch pl-0"><input type="checkbox" class="custom-switch-input" id="annotator-field-2" placeholder="Visible to public"><span class="custom-switch-indicator"></span><span class="custom-switch-description">Visible to public</span></label></li><li class="annotator-field form-group"><input type="hidden" class="form-control" id="annotator-field-3" placeholder="In Reply To"></li></ul>
      <div class="annotator-controls d-flex justify-content-between">
        <button class="btn btn-primary annotator-save annotator-focus">Save <span class="annotation-type"></span></button>
        <button class="btn btn-link annotator-cancel">Cancel</button>
      </div>
    </div>
  </form>
</div><div class="annotator-viewer card" style="display: none;">
        <div class="card-header">
            <div class="card-title">Annotations</div>
            <button type="button" class="btn btn-light ml-auto mobile-toggle-button-cont" id="close-mobile-annotations"><i class="fe fe-x"></i></button>
        </div>
        <ul class="card-body annotator-listing"></ul>
    </div></div>
    <div class="card">
  <div class="card-header">
    <div class="card-title">Share this transcript</div>
  </div>
  <div class="card-body">
    <ul class="social-links list-inline mb-0">
      <li class="list-inline-item m-0">
        <a href="https://twitter.com/share?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F65270%2F2025Q1%2FMEI" target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Twitter"><i class="fe fe-twitter"></i></a>
      </li>
      <li class="list-inline-item m-0">
        <a href="https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fcapedge.com%2Ftranscript%2F65270%2F2025Q1%2FMEI&amp;title=MEI%20-%20Earnings%20call%20transcript%20Q1%202025%20%7C%20Methode%20Electronics%2C%20Inc." target="_blank" rel="noreferrer noopener" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via LinkedIn"><i class="fe fe-linkedin"></i></a>
      </li>
      <li class="list-inline-item m-0">
        <a href="mailto:?subject=MEI%20-%20Earnings%20call%20transcript%20Q1%202025%20%7C%20Methode%20Electronics%2C%20Inc.&amp;body=https%3A%2F%2Fcapedge.com%2Ftranscript%2F65270%2F2025Q1%2FMEI" data-toggle="tooltip" data-placement="top" title="" data-original-title="Share via Email"><i class="fe fe-mail"></i></a>
      </li>
      <li class="list-inline-item m-0">
        <a href="#" id="print-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Print"><i class="fe fe-printer"></i></a>
      </li>
      <li class="list-inline-item mr-0">
        <a href="#" id="copy-link-button" data-toggle="tooltip" data-placement="top" title="" data-original-title="Copy URL to clipboard"><i class="fe fe-link"></i></a>
      </li>
    </ul>
  </div>
</div>

    
<div class="card">
    <div class="card-header">
        <div class="card-title">Recent MEI transcripts</div>
    </div>
    <ul class="container transcript-sidebar-list list-unstyled">
        
            <li>
                
<a class="row item-row d-block transcript active" href="/transcript/65270/2025Q1/MEI">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2025 Q1</div>
        </div>
        <div class="date">5 Sep 24</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/65270/2024Q4/MEI">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q4</div>
        </div>
        <div class="date">11 Jul 24</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/65270/2024Q3/MEI">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q3</div>
        </div>
        <div class="date">7 Mar 24</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/65270/2024Q2/MEI">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q2</div>
        </div>
        <div class="date">7 Dec 23</div>
    </div>
    
</a>

            </li>
        
            <li>
                
<a class="row item-row d-block transcript" href="/transcript/65270/2024Q1/MEI">
    <div class="d-flex">
        
        
        
        <div class="title label-col">Earnings call transcript</div>
        
        
        
        <div class="filing-type-col">
            <div class="filing-period">2024 Q1</div>
        </div>
        <div class="date">7 Sep 23</div>
    </div>
    
</a>

            </li>
        
    </ul>
</div>



    
<div class="card">
    <div class="card-header">
        <div class="card-title">Associated MEI filings</div>
    </div>
    <ul class="card-body filing-sidebar-list list-unstyled mb-0">
        
            <li class="clearfix ">
    <a href="/filing/65270/0000950170-24-103735/10Q-2025Q1" class="text-truncate filing-link">
        
        <span class="filing-date">2025 Q1</span>
        
        
        <span class="text-nowrap filing-type type-10Q type-financial">10-Q</span>
        
        <span class="filing-description ">Quarterly report</span>
    </a>
    
</li>

        
    </ul>
</div>



</div>

                </div>
                
                <div class="col order-2">


<button type="button" class="btn btn-sm btn-outline-primary mb-5 mx-auto d-block mobile-toggle-button-cont" data-click-toggle="sidebar-col"><i class="fe fe-more-vertical"></i> Transcript menu</button>

<div class="card transcript">
    <div class="card-header">
        <div class="card-title">Participants</div>
    </div>
    <div class="card-body">
        <table class="participant-list">
            
            <tbody><tr class="participant">
                <td class="name">Robert Cherry</td>
                <td class="role">executive</td>
            </tr>
            
            <tr class="participant">
                <td class="name">Jonathan DeGaynor</td>
                <td class="role">executive</td>
            </tr>
            
            <tr class="participant">
                <td class="name">David Rawden</td>
                <td class="role">executive</td>
            </tr>
            
            <tr class="participant">
                <td class="name">Luke Junk</td>
                <td class="role">analyst</td>
            </tr>
            
            <tr class="participant">
                <td class="name">John Franzreb</td>
                <td class="role">analyst</td>
            </tr>
            
            <tr class="participant">
                <td class="name">Gary Prestopino</td>
                <td class="role">analyst</td>
            </tr>
            
        </tbody></table>
    </div>
</div>





<div class="card transcript">
    <div class="card-header">
        <div class="card-title">Call transcript</div>
    </div>
    <div class="card-body transcript-container">
        
        
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Good morning, everyone, and welcome to the Methode Electronics First Quarter Fiscal 2025 Results. [Operator Instructions] I will now turn the conference over to your host, Robert Cherry, Vice President of Investor Relations. Robert, the floor is yours.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Robert Cherry</div>
                <div class="content">
                    <p>Thank you, operator. Good morning, and welcome to Methode Electronics Fiscal 2025 First Quarter Earnings Conference Call.</p>
                        <p>For this call, we have prepared a presentation entitled, Fiscal 2025 First Quarter Financial Results, which can be viewed on the webcast of this call or found at methode.com on the Investors page. This conference call contains certain forward-looking statements, which reflects management's expectations regarding future events and operating performance, and speak only as of the date hereof. These forward-looking statements are subject to the safe harbor protection provided under the securities laws. Methode undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Methode's expectations on a quarterly basis or otherwise.

The forward-looking statements in this conference call involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from our expectations are detailed in Methode's filings with the Securities and Exchange Commission, such as our 10-K and 10-Q reports. On Slide 4, please see an agenda for our call today.</p>
                        <p>We will begin with an introduction of Methode's new CEO. Move to our key messages and then provide a business and financial update followed by a Q&amp;A session. Please turn to Slide 5. At this time, I'd like to turn the call over to Mr. Jon DeGaynor, President and Chief Executive Officer.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Thank you, Rob, and good morning, everyone. Thank you for joining us for our first quarter earnings conference call. I'm joined today by Dave Rawden, our Interim Chief Financial Officer.</p>
                        <p>Before we discuss the quarter, I'd like to take a minute and share why I came to Methode, what I have found so far and what I think are the key messages for you to take away from this call today.</p>
                        <p>First, I'm truly honored to be the new CEO of Methode at this pivotal time for the company. I've long admired Methode in my roles as adjacent companies in the industry, and I look forward to working alongside the team to deliver for all of our stakeholders.</p>
                        <p>Over the past few weeks, I've had the opportunity to tour several of our facilities around the world and meet many of our regional teams. I spent time learning about our operations, our products, Slide 6. Not many companies can talk about a 78-year history, but Methode can.</p>
                        <p>However, all companies eventually go through periods where the business must evolve to move forward. Changing the solutions it develops for customers, the way in which it produces those solutions, and the way in which the organization works as a whole. Methode is at such a point. And consequently, we are beginning a journey to transform the business to position it for long-term value creation. To do so, our first priority must be to successfully execute on a large pipeline of new programs that must be launched in the next 2 fiscal years.

In fiscal 2025, we have over 30 program launches that our customers are looking forward to. And in fiscal 2026, we have another 20 programs to launch. Any organization that faces this level of launch intensity will have its capabilities tested. At Methode, we are relying on our history of execution and global collaboration to surmount these challenges. Simultaneous with the launches, we must focus on immediate actions to address total supply chain costs and efficiency.</p>
                        <p>With the help of outside resources, we are pursuing a multifaceted approach to set a foundation for future success.</p>
                        <p>We are also actively building the executive team, including the new CFO and CPO to support these challenges. 

On that note, I'd like to reiterate the news that we announced last week regarding our CFO transition. Laura Kowalchik, the current CFO of Communication and Power Industries has been appointed CFO of Methode effective October 1. She brings an impressive track record of delivering successful business transformations within our industry. I look forward to partnering with Laura to drive improvement at Methode and welcome her to the Methode team.</p>
                        <p>Lastly, despite some headwinds in our markets, we are in a position to affirm our guidance for flat sales in fiscal 2025, followed by profitable organic sales growth in fiscal '26.</p>
                        <p>Our plan is to leverage Methode's strong foundation in order to reinvigorate and transform the business. But what does transform mean? Please turn to Slide 7, and let me elaborate.

To start with, transform means resetting performance. That includes improving operational metrics, cost focus and cost structure. It also means building and growing capabilities. That includes utilizing global best practices, improving our tools and systems and driving standardization across the organization.</p>
                        <p>Lastly, it means shifting our culture. That includes leveraging our global resources, acting with a sense of urgency and rewarding performance. In short, the organization needs to earn the right to write the next chapter of Methode's history. I am confident that it will do just that. 

Returning to the quarter.</p>
                        <p>Let's begin on Slide 8.</p>
                        <p>Our sales were $259 million, and our adjusted pretax loss was $9 million.</p>
                        <p>Our sales were down from the prior year, mainly due to the roll-off of a previously disclosed EV lighting program in our auto segment. That program has gone end-of-life but will impact our prior year sales comparisons for most of fiscal '25. Overall, our sales in the quarter were on track with our expectations. The lower sales volume, along with the continued elevated costs from ongoing program launches drove the pretax loss in the quarter. Customer program delays also contributed to absorption challenges.</p>
                        <p>However, our efforts to improve gross profit contributed to the better-than-expected result. A loss is a loss, and we will never celebrate one, but it was good to see the sequential improvement.</p>
                        <p>Turning to EV activity. Their sales in the quarter were 18% of our consolidated total, and a sequential increase from 14% in the fourth quarter.</p>
                        <p>As previously communicated, we had a sizable EV lighting program roll off toward the end of fiscal 2024, and we are now at the beginning of a wave of new program launches for EV power applications.</p>
                        <p>As such, we expect the EV percentage to grow even further and should be over 20% for our fiscal '25.</p>
                        <p>While our sales are currently on track for the year, there are clearly headwinds in several of our key end markets. Those markets include automotive, commercial vehicles, construction and agriculture.</p>
                        <p>In addition, the EV market is clearly awesome team, particularly in North America, and its near-term outlook has softened.</p>
                        <p>So, while we are affirming our guidance for the year, we are keenly monitoring market conditions.</p>
                        <p>On the order front, we had another solid quarter with over $80 million in annual program awards. OEMs are clearly reevaluating the adoption rate for the EV market.</p>
                        <p>As such, the pipeline of potential bookings is subject to reduction and/or delay due to customer decisions and/or market conditions.</p>
                        <p>Turning to the balance sheet.</p>
                        <p>We are maintaining an acute focus on managing it and generating cash.</p>
                        <p>As evidence, we reduced working capital by $9 million and improved cash from operations by over $16 million in the quarter.</p>
                        <p>Lastly, our debt covenants were in full compliance at the end of the quarter and have our complete attention. In short, it was a stabilizing start to the year with better-than-expected performance on pretax income and cash flow. It was also encouraging to see the booking momentum continue.</p>
                        <p>Turning to Slide 9. The awards identified here are some of the key wins in the quarter and represent $77 million in annual sales at full production. This was our second consecutive quarter of solid awards. The launch timing of most of these programs could be anywhere in the range from 1 to 3 years from now. All awards were for power distribution products for applications in EV, defense and data centers. After a lull on data center activity, we are now seeing a rebound in orders there. On Slide 10, I want to provide some more color and details on the transition that we are navigating from a few large legacy programs to a multitude of launches for new programs. Methode has had a tremendous run supplying integrated center consoles to General Motors.</p>
                        <p>As we have been communicating over the past few years, that program, for various platforms and models has been slowly rolling off. It's now expected to go end of life in fiscal '25. The result is a significant headwind in fiscal '25 and another lesser one in fiscal '26.</p>
                        <p>The other major legacy program roll off we have previously communicated is for an EV lighting program. That program for Methode went end of life in fiscal '24 and is thus a headwind for us in fiscal '25. Conversely, we are launching several EV programs for Stellantis in fiscal '25. That activity, along with a positive net impact from other launches, roll-offs and market conditions leads us to expect flat sales in '25 versus '24.</p>
                        <p>Looking further out to fiscal '26, we expect even more launches of EV programs for Stellantis. That activity, along with a more positive net impact from other launches, roll offs and market conditions will more than offset the final headwind from the GM roll off as well as a significant headwind from a major appliance program that is going end of life in fiscal '25. The overall net result is the expectation of organic sales growth in fiscal '26.</p>
                        <p>As we navigate this product transition, we remain subject to market conditions, EV adoption trends and the success of our customers' product launches.</p>
                        <p>However, as of today, this is the line of sight we have based on our projections and the forecast of our customer base.</p>
                        <p>Turning to Slide 11. In summary, for the quarter, our sales were on track while our pretax loss was better than expected. EV activity rebounded and was at 18% of sales. Key market headwinds, particularly in auto and commercial vehicles are a concern.</p>
                        <p>However, program awards were solid for the second consecutive quarter.</p>
                        <p>Lastly, we maintained an acute focus on the balance sheet and cash flow, delivering a $9 million reduction in working capital and generating over $16 million in cash from operations.</p>
                        <p>Going forward, we are beginning a journey to transform the business while positioning it for long-term value creation. Meanwhile, we are focusing intensely on executing over 30 program launches while taking immediate actions to address execution and costs. 

We simply need to return to better blocking and tackling, and then we can move forward with a discussion on strategy.</p>
                        <p>We are also building the executive team, including our new CFO and CPO to support these challenges.</p>
                        <p>Lastly, we are affirming our guidance for flat sales in fiscal '25, followed by profitable organic sales growth in fiscal '26. To be succinct, our fiscal '25 will be a year of transforming the business with a goal of returning the company to growth and profitability in fiscal '26. At this point, I'll turn the call over to David, who will provide more detail on the first quarter financial results.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">David Rawden</div>
                <div class="content">
                    <p>Thank you, Jon, and good morning, everyone. I'd ask you please to turn to Slide 13.</p>
                        <p>First quarter net sales were $258.5 million compared to $289.7 million in fiscal '24, a decrease of 11%. On a sequential basis, sales decreased 7% from fiscal '24 fourth quarter. The main impact on sales in the quarter was the previously disclosed roll-off of an EV lighting program in Asia. That program ended toward the end of last fiscal year and had no sales this quarter. Also impacting this quarter was market weakness for our lighting products in the commercial vehicle, construction and agricultural applications. That weakness was partially offset by growth in our auto sales in Europe.</p>
                        <p>First quarter adjusted loss from operations was $4.7 million, down $10 million from fiscal '24. On a sequential basis, adjusted loss from operations improved $5.1 million from fiscal '24 fourth quarter. Please see the appendix for a reconciliation of all adjusted measures to GAAP. 

Income was negatively impacted both year-over-year and sequentially due to the lower sales volume.</p>
                        <p>In addition, we continue to have high launch costs to support the numerous new program launches that Jon described.</p>
                        <p>We also had a discrete legal fee in the quarter related to the Hetronic litigation. Overall, our first quarter sales were on track with the full year expectations.</p>
                        <p>Turning to Slide 14. Shifting to EBITDA and non-GAAP financial measure.</p>
                        <p>First quarter adjusted EBITDA was $9.8 million, down $9.5 million from the same period last year. On a sequential basis, adjusted EBITDA improved $4.5 million from the fiscal '24 fourth quarter. Compared to the prior year, adjusted EBITDA was negatively impacted by the lower sales and gross profit. On a sequential basis, adjusted EBITDA improved despite the lower sales as a result of higher gross profit. The higher gross profit was driven in part by price increases and lower warranty costs.</p>
                        <p>Turning to Slide 15.</p>
                        <p>First quarter adjusted pretax loss was $9.1 million, down $11.6 million from fiscal '24. On a sequential basis, adjusted pretax loss improved $4.7 million from the fiscal '24 fourth quarter. Compared to the prior year, adjusted pretax loss was negatively impacted mainly by lower sales. On a sequential basis, adjusted pretax loss improved despite the lower sales as a result of higher gross profit. The loss this quarter exceeded our guidance of similar to the recent fourth quarter performance.</p>
                        <p>First quarter adjusted diluted loss per share decreased to a negative $0.31 from a positive $0.06 in the same period last fiscal year. On a sequential basis, the adjusted loss per share declined $0.08 from the fiscal '24 fourth quarter. The adjusted earnings per share was negatively impacted by both lower sales and higher interest expense, both year-over-year and sequentially.</p>
                        <p>This quarter was also negatively impacted compared to the prior year but higher tax expense due to the GILTI tax treatment on foreign earnings. Overall, our first quarter adjusted pretax loss was on track with our full year expectations.</p>
                        <p>Turning to Slide 16. Debt was down $34.9 million from prior year-end. We ended the quarter with $111.3 million in cash, down $50.2 million. The primary use of cash was to pay down debt. Net debt, a non-GAAP financial measure increased by $15.3 million to $184.7 million. The increase was due to the use of cash for other financing activities that exceeded our cash provided by operating activities.</p>
                        <p>We are in compliance with all of our debt covenants at the end of the first quarter.</p>
                        <p>Turning to Slide 17.</p>
                        <p>The first quarter's net cash from operating activities was $10.9 million as compared to a negative $5.6 million in fiscal '24. The increase of $16.5 million was primarily due to improvements in working capital.</p>
                        <p>First quarter capital expenditures were $13.6 million as compared to $13.8 million in fiscal '24, a slight decrease of $0.2 million.</p>
                        <p>First quarter free cash flow, a non-GAAP financial measure, was a negative $2.7 million as compared to a negative $19.4 million in fiscal '24, an improvement of $16.7 million. This increase was primarily due to reduced working capital on a historical basis, which is a good start to the fiscal year for free cash flow.</p>
                        <p>Turning to Slide 18.</p>
                        <p>Regarding forward-looking guidance, it is based on management's best estimates and is subject to change due to a variety of factors as noted at the bottom of this slide.</p>
                        <p>For fiscal '25, we are affirming expected net sales to be similar to fiscal '24 and adjusted pretax income to be approaching breakeven. The adjusted pretax income for the second half of fiscal '25 is still expected to be significantly stronger than the first half. This fiscal year '25 guidance assumes depreciation and amortization of $60 million to $65 million; CapEx of $50 million to $60 million, and a tax expense of $9 million to $11 million. The tax expense is mainly a function of the valuation allowance on deferred tax assets of $4.3 million that we recorded in the first quarter and the expected GILTI tax treatment for the full fiscal year.</p>
                        <p>Looking further ahead to fiscal year 2016, we are affirming expected net sales to be greater than fiscal '25 and pretax income to be positive and notably greater than fiscal '25. This concludes my comments, and we can go up to questions.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>[Operator Instructions] Your first question is coming from Luke Junk of Baird.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Luke Junk</div>
                <div class="content">
                    <p>Hoping I could start on with the gross margin, and especially within automotive specifically.</p>
                        <p>You mentioned the improvement that we saw sequentially in the quarter. Hoping you could just unpack that. Clearly, gross margin, especially in auto has been under pressure the last few quarters, launch costs, overhead cost absorption. I know there's a lot going on there. Can you just unpack what went right this quarter in terms of gross margin in auto especially, and how we should think about that as being sustainable as we look at the next couple of quarters?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Thanks for your question.</p>
                        <p>I think it's important to understand that the team has been working hard, not only on the launches, but on driving operational improvements.</p>
                        <p>So, what you're seeing is both the impact of operations improvement, particularly in North America and in our EMEA regions, impact of price increases that have been passed on to the customers, work that's been done on price reductions with our supply base, and then some of the impact of some of the cost reductions that we've talked about in previous quarters.</p>
                        <p>So, these are ongoing improvements that will continue to gain momentum on a quarter-over-quarter basis and why we feel confident in the progress that we talked about here.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Luke Junk</div>
                <div class="content">
                    <p>My second question, a little bigger picture in terms of the interface business and the appliance roll off that you're looking at in fiscal '26, just how does that impact your view of the business? It would seem like sales are going to come down a lot there, just in terms of the strategic relevance going forward and then managing that specific earnings headwind from that roll off?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Yes.</p>
                        <p>So, the interface business was -- as I'm coming to learn was critical for us as we launched the GM business and launched some of the other PaaS interface business on the automotive side. What you're seeing us starting to look for is how do we find synergies between the different segments? And how do we create some synergistic value between our lighting business and our industrial controls business in other areas.</p>
                        <p>So, we do have some new appliance programs, so it's not just bad news from an appliance side. But when you talk about all of the launches that we have, that we mentioned multiple times, 30 this year and over 20 next year. We mentioned this in the last earnings call when we talked again here. The trough that we're seeing from a sales perspective is really being filled by a whole series of exciting new programs that are aligned with what we see as the megatrends in the space.</p>
                        <p>So, I'm quite confident about where we're going and the opportunity for us to be aligned with where the different industries in which we play are going as well.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Luke Junk</div>
                <div class="content">
                    <p>And then my last question. Jon, just great to get your perspective.</p>
                        <p>Some improvement plans had already been outlined for the organization as you came into the CEO seat. It was great to understand kind of your focus for the first 90 days on the job, just how you're prioritizing your time, some of the structures that you put in place with your leadership team. Obviously, some folks still coming on to that team and maybe any other kind of initial focus here is that would be worth highlighting?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Yes.</p>
                        <p>So, as we said multiple times during the call, our first priority is making sure that we get these launches right.</p>
                        <p>So, it's why I've made it a point to get to the regions. I'll make it to the last major region of China here in a couple of weeks, to make sure that I understand the challenges that the regions are facing and then also to be talking to customers.</p>
                        <p>So, the first priority is making sure that we're talking about the regions and our launches.</p>
                        <p>Secondly, is in some specific launches to make sure that we're supporting our customers appropriately and had those first rounds of customer meetings.</p>
                        <p>So that's priorities, if you will, number one and number two. Number three is really driving an integrated financial improvement approach.</p>
                        <p>So, it's not just what are we doing to cut costs, the headcount reduction, but it's a holistic perspective on how do we use the outside resources that we have working with us as well as the internal teams to be driving scrap reduction in the plants, to be driving inventory reduction in the facilities, to be looking at our total supply chain as well as what do we do with regard to additional pricing opportunities with customers and looking at the entire thing holistically.</p>
                        <p>As we add capability, like with John Erwin as the CPO and as Dave and Laura transition, I feel really confident that we're building an organization that will be thinking more and more numerously every day and in all of the areas that allow us to drive a holistic, continuous improvement approach. 

And then I guess the last priority for me is making sure that we build out that leadership team that sets the stage for the next phase of the Methode, if you will. The next phase of the Methode history.</p>
                        <p>So, when we say we need to earn the right in front of our shareholders and in front of our customers and in front of our organization to write the next phase of the history, that comes down to leadership. And what do we do to take the 7,000-plus person organization with a 78-year-old history and set the stage for the next months, years, and decades ahead.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Your next question is coming from John Franzreb of Sidoti &amp; Company.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">John Franzreb</div>
                <div class="content">
                    <p>I'd like to start with the guidance. Despite lower revenue sequentially and higher operating and pretax profit sequentially, you kind of maintained the outlook for the year. I'm curious if that suggests any change in the past 2 months in market conditions versus what you're looking for at year-end?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">David Rawden</div>
                <div class="content">
                    <p>Not really. I mean, we're taking a look at this. We're actually being cautious on how we forecast things. But still, the year still has to play out.</p>
                        <p>We have a good start to the year. I shouldn't say good.</p>
                        <p>As John says, we never want to celebrate a loss, but it was better than what we were hoping or we were expecting. But we're still going to keep the guidance where it is just until we get a little bit better track record of how we go forward in the quarters.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>And John, let me just build on what Dave said is, it's our responsibility to make sure that we're credible. And credibility comes down to doing what we say and achieving above what we say as opposed to some of the back and forth that we've had historically.</p>
                        <p>And so, when we look at the headwinds in our different end markets, we look at the challenges with regard to the launches and just some of the exogenous turbulence. We thought it was prudent for us to affirm our revenue guidance and affirm what we said in the last quarter, but not go any further with that until recognizing the fact that I've been here 2 months. And Dave has been in his role for a couple of months as well.</p>
                        <p>So, making sure that we're prudent in the way in which we lay this out and explain to our investors is why we've approached it this way.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">John Franzreb</div>
                <div class="content">
                    <p>Fair enough.</p>
                        <p>Just wanted to make sure. I'm actually curious about the price increases that you referenced in your prepared remarks. Pricing has been an issue for quite some time. I'm curious on 2 things. One, how much did price impact the gross margin profile in Q1 versus Q4? And 2, how much do we run rate do you have left on getting more price gains on a go-forward basis?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Yes.</p>
                        <p>So, we don't typically, John, give the sort of detail on exact impact on a quarter-by-quarter basis. But what I can say to you is as we have looked a little more rigorously at some of our programs and some of our longer running programs as well as the new things, it's forced us to go back to customers. And in some situations where you have even new program delay, it requires us to go back to customers because we have capital and we have inventory that we have put in place in order to support a ramp-up.</p>
                        <p>So, when I responded earlier about the numerous and how we think about these things, each of our programs, be they long-term programs or new programs, we're looking at the financial performance of those programs and going back and saying, what is our responsibility and what is it that is a customer's responsibility, and how do we go have very clear, transparent conversations with our customers in all of the businesses.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">John Franzreb</div>
                <div class="content">
                    <p>It's certainly a worthy endeavor.</p>
                        <p>Lastly, you mentioned in your comments going after supply chain costs, certainly, that's after you handle your successful launch in new programs. But what is the opportunity in the better procurement on the supply chain?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Yes.</p>
                        <p>So, we've had both outside help as well as the fresh eyes of John Erwin, our new Chief Procurement Officer, really looking at how we buy.</p>
                        <p>Looking at where, with how the organization was structured, where there might be the same thing purchased from multiple places, but also how do we schedule and how do we order material.</p>
                        <p>You can look at our inventory and say that we are certainly not as optimal as we like to be from an inventory standpoint.</p>
                        <p>So, as I think about supply chain costs, it's not just the procurement price, if you will. It's not a price-to-price comparison solely. It's a total supply chain cost. What do we do with regard to, how we ship material, how much material, how much inventory is sitting on the plant floors? All of those areas allow us to optimize our cost structure. And that's the way John, is leading it and the operations team is thinking about in each of the regions as well as with the outside support to help John, on those.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>[Operator Instructions] Your next question is coming from Gary Prestopino of Barrington Research.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Gary Prestopino</div>
                <div class="content">
                    <p>A couple of questions here.</p>
                        <p>First of all, let me jump around a little bit here. When you're talking about your guidance on pretax income for this year and next year, is that on an adjusted basis or a GAAP basis?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">David Rawden</div>
                <div class="content">
                    <p>That would be on an adjusted basis.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Gary Prestopino</div>
                <div class="content">
                    <p>Okay. I just want to make that clear.</p>
                        <p>So, I'm looking at your balance sheet, okay? And I'm seeing a pretty dramatic increase in inventories.</p>
                        <p>I think I got clocked it at 18% on a sales decline in the quarter, and this is on a sequential basis.</p>
                        <p>So maybe, could you explain why those inventories are up as high as with the growth relative to the sales being down. Is that due to these program launches that you're going to undertake?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Yes.</p>
                        <p>So, Gary, I'll take this, and I'll let Dave add if he's got any additional color.</p>
                        <p>We have to -- particularly for long lead time materials, we have to put things in the pipeline based on our best assumption with regard to customer volumes and ramp up.</p>
                        <p>And so, when you have a delay in a launch, you've got a pipeline that's already filled or started to be filled at a certainty.</p>
                        <p>So, when I say to you, some of those inventories are this mismatch between what we plan from a ramp-up perspective and what's actually happening. It doesn't mean that we won't use the material. It just means that there is a cost to it of it sitting on our plant floors.</p>
                        <p>And so, it goes back to what I said earlier, we're having to go back to customers and talk about holding costs and all those sort of things.</p>
                        <p>So, there are certainly opportunities for inventory optimization and supply chain optimization. And that's one of the key things that John and his team will be working on. But what you're seeing here is not as much about an execution stumble, as it is just delays in launches.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Gary Prestopino</div>
                <div class="content">
                    <p>Okay.</p>
                        <p>So that gets me to my next question, Jon. I don't mean to be nitpicky, but when you're putting out your sales bridge here, you've got Stellantis program launches.</p>
                        <p>You've got $84 million for this year, $125 million for next year.</p>
                        <p>First of all, are you at liberty to discuss the models that you're going to be launching products on? And are they hybrid or just ICE?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>So they're EV programs, and we talked about that, that these are EV programs. But we're not upgrading to talk about the specific program, specific platforms. But it's how you end up going from 14% EV to 18% EV in the quarter and to what we talked about it being over 20% going forward in the rest of the fiscal year.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Gary Prestopino</div>
                <div class="content">
                    <p>Okay.</p>
                        <p>So, with this number that you have, and I'm just trying to get a handle on how are -- right now, what Stellantis has said is going to be their take rate from you guys? Or is this based on what they are projecting their models to be? Because I'm getting -- what I'm trying to get around, Jon, is that Stellantis is having really difficult problems with inventories on their lots. And I'm just trying to get an idea of how you're sizing this number.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>So, certainly, we have to be smart about how we think about these things. And Gary, as we talked about in previous lives, we do look at what customer releases are, but also then what do we see from an IHS perspective.</p>
                        <p>And so, this is with the confidence waiting against it, but understand also that we may have some other economic actions that we take depending on how the ramp-up goes.</p>
                        <p>So, our revenue for us may not be a part-to-part correlation with their ramp up.</p>
                        <p>So, we watch this in detail. Remember also that we have launches that are around the world.</p>
                        <p>So, it's easy to get distracted in North America with regard to news on EVs, but from a penetration perspective of EVs and the more advanced hybrids actually in the rest of the world, and we're spread all around the world, China and in Europe. It's a bigger percentage of sales, and we're providing power products in those regions as well.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Gary Prestopino</div>
                <div class="content">
                    <p>So, then the other thing that I just wanted to touch on, Jon, is I think in your opening comment, you said you've been to some of your plants worldwide. And one of the things you said there's areas of improvement, without obviously, dwell in too much detail. Is the areas of improvement dealing with throughput, scrappage? Particularly, I guess, I'm addressing what has been happening in Mexico, too. And can this be rectified with your current personnel at these various plants?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Let me give a shout out to the guys in Mexico. Not only I mentioned in my remarks that there are plants that are world-class, and I would be really proud to take a customer, too. The Mexican facilities are a couple of those plants. And yes, we had fairly significant scrap and premium freight issues in fiscal 2024. Part of the progress on a year-over-year basis is actually the operational improvement that has happened in our Mexican facilities. It does not mean that we are done. There is a lot of productivity activities to be done there. There's a lot of improvement. And Philip Farrugia and the team down there, understand very clearly what challenges they have in front of them. But it's a very important portion of the company, and I am absolutely confident of that leadership team and their ability to take not only the progress that they've made, the feedback that I've given them, the help that we are giving them from the outside to make those facilities in Mexico much, much better.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Your next question is coming from John Franzreb of Sidoti &amp; Company.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">John Franzreb</div>
                <div class="content">
                    <p>Just a quick question on the guidance. And this is really the tax expense line that you have $9 million to $11 million. Is that a GAAP number compared to some of the other adjusted numbers that you have as a non-GAAP number?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">David Rawden</div>
                <div class="content">
                    <p>That would be an estimate of what the GAAP tax would be for the year.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">John Franzreb</div>
                <div class="content">
                    <p>All right.</p>
                        <p>So, we have to kind of adjust out what happened in the first quarter and make some assumptions on a go-forward basis that will balance those two out, right? That's how we should think about it?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">David Rawden</div>
                <div class="content">
                    <p>I would think about it as we recorded the -- what we recorded in the first quarter, the $5 million, and we expect that for the year, it would be about $9 million to $11 million.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">John Franzreb</div>
                <div class="content">
                    <p>And just another thought on -- as the EV programs start to roll out, how should we be thinking about the contribution margin on the new EV programs relative to what you've been getting in the recent automotive side of the business?</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>John, I actually, based on some programs that I reviewed yesterday, I actually feel really good about where we are from a contribution margin standpoint. We've got a lot of execution challenges, and we need to make sure that we're driving performance appropriately. But based on what I'm seeing from the initial programs and where the financials are, I think it is at a minimum on par, if not accretive from a gross margin perspective.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Thank you very much. Well, we appear to have reached the end of our question-and-answer session. I will now hand back over to Jon for any closing remarks.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Jonathan DeGaynor</div>
                <div class="content">
                    <p>Yes. Thank you, operator. And I want to thank all of the people who joined us today for your time and for your interest in Methode.</p>
                        <p>As a leadership team, we're committed to, if you will, earning your trust and building the capability of this organization, and we look forward to talking to you again in the next quarter. Thanks very much.</p>
                        
                </div>
            </div>
        
            <div class="speech">
                <div class="participant-name">Operator</div>
                <div class="content">
                    <p>Thank you very much. This does conclude today's conference.</p>
                        <p>You may disconnect your phone lines at this time, and have a wonderful day. Thank you for your participation.</p>
                        
                </div>
            </div>
        
    </div>
</div>

                </div>
              </div>
            </div>
          </div>
        </div>
      </div>
      
<footer class="footer">
    <div class="container">
        <div class="row py-5">
            <div class="col-12 col-lg-auto">
                <a href="https://finsight.com" target="_blank" rel="noopener" class="no-icon mb-5 mb-lg-0">
                    <img src="/img/finsight.svg" alt="Finsight">
                </a>
            </div>
            <div class="col-12 col-lg-auto ml-lg-auto">
                <div class="row">
                    <div class="col">
                        <div class="link-title">Resources</div>
                        <ul class="list-unstyled">
                            <li><a href="https://help.capedge.com/" target="_blank">Knowledgebase</a></li>
                            
                                <li>
                                    <form action="/user/logout" method="post">
                                        <button type="submit" class="btn btn-link">Logout</button>
                                    </form>
                                </li>
                            
                        </ul>
                    </div>
                    <div class="col">
                        <div class="link-title">Company</div>
                        <ul class="list-unstyled">
                            <li><a href="https://finsight.com/about" target="_blank" rel="noopener">About</a></li>
                            <li><a href="https://finsight.com/contact-us" target="_blank" rel="noopener">Contact</a></li>
                            <li><a href="https://finsight.com/our-solutions" target="_blank" rel="noopener">Solutions</a></li>
                        </ul>
                    </div>
                    <div class="col">
                        <div class="link-title">Products</div>
                        <ul class="list-unstyled">
                            <li><a href="https://dealroadshow.finsight.com/" target="_blank" rel="noopener">Deal Roadshow</a></li>
                            <li><a href="https://dealvdr.com/" target="_blank" rel="noopener">DealVDR</a></li>
                            <li><a href="https://evercall.co/" target="_blank" rel="noopener">Evercall</a></li>
                            <li><a href="https://finsight.com/" target="_blank" rel="noopener">Finsight.com</a></li>
                        </ul>
                    </div>
                    <div class="col">
                        <div class="link-title">CapEdge</div>
                        <ul class="list-unstyled">
                            <li><a href="/earnings-calendar">Earnings Calendar</a></li>
                            <li><a href="/transcript/by/companyId/all">Earnings Transcripts</a></li>
                            <li><a href="/search?q=">EDGAR Filing Screener</a></li>
                            <li><a href="/ipo-calendar">IPO Calendar</a></li>
                        </ul>
                    </div>
                </div>
            </div>
        </div>
    </div>

    <div class="footer-bottom">
        <div class="container">
            <div class="row align-items-center">
                <div class="col-12 col-lg-auto">
                    <ul class="list-inline mb-0">
                        <li class="list-inline-item"><a href="https://finsight.com/compliance" target="_blank" rel="noopener">Compliance</a></li>
                        <li class="list-inline-item"><a href="https://finsight.com/privacy-policy" target="_blank" rel="noopener">Privacy</a></li>
                        <li class="list-inline-item"><a href="https://finsight.com/security-policy" target="_blank" rel="noopener">Security</a></li>
                        <li class="list-inline-item"><a href="https://finsight.com/terms-of-use" target="_blank" rel="noopener">Terms</a></li>
                    </ul>
                </div>
                <div class="col footer-icons text-lg-right">
                    <a href="https://angel.co/company/finsight-group" target="_blank" rel="noopener" class="no-icon">
                        <img src="/img/angel.svg" alt="AngelList">
                    </a>
                    <a href="https://www.linkedin.com/company/finsight/" target="_blank" rel="noopener" class="no-icon">
                        <img src="/img/linkedin.svg" alt="LinkedIn">
                    </a>
                </div>
            </div>
        </div>
    </div>
</footer>


    </div>

    
    <div class="cookiesBanner_container cookiesBanner_container__visible">
    <i class="cookiesBanner_close">
        <svg width="16" height="16" viewBox="0 0 16 16" xmlns="http://www.w3.org/2000/svg">
            <path d="M8.58719 7.3231C8.93627 7.67218 8.93627 8.23816 8.58719 8.58724C8.2381 8.93633 7.67213 8.93633 7.32304 8.58724L0.261813 1.52597C-0.0872709 1.17689 -0.0872709 0.61091 0.261813 0.261825C0.610896 -0.0872605 1.17687 -0.0872605 1.52596 0.261825L8.58719 7.3231Z"></path><path d="M1.52595 15.7382C1.17687 16.0873 0.610892 16.0873 0.261808 15.7382C-0.087275 15.3891 -0.0872754 14.8231 0.261808 14.474L7.32304 7.41277C7.67212 7.06368 8.2381 7.06368 8.58718 7.41276C8.93626 7.76185 8.93626 8.32783 8.58718 8.67691L1.52595 15.7382Z"></path><path d="M7.4128 8.6769C7.06372 8.32782 7.06372 7.76184 7.4128 7.41275C7.76189 7.06367 8.32786 7.06367 8.67695 7.41275L15.7382 14.474C16.0873 14.8231 16.0873 15.3891 15.7382 15.7382C15.3891 16.0873 14.8231 16.0873 14.474 15.7382L7.4128 8.6769Z"></path><path d="M14.474 0.261814C14.8231 -0.0872713 15.3891 -0.0872713 15.7382 0.261814C16.0873 0.610899 16.0873 1.17688 15.7382 1.52596L8.67695 8.58723C8.32787 8.93632 7.76189 8.93632 7.41281 8.58723C7.06373 8.23815 7.06373 7.67217 7.41281 7.32309L14.474 0.261814Z"></path>
        </svg>
    </i>
    <div class="cookiesBanner_content">
        <p class="cookiesBanner_text">
            We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our&nbsp;<a class="cookiesBanner_cookiesBannerLink__dvqOM" href="https://finsight.com/privacy-policy#cookiesPolicy" target="_blank">Cookie Policy</a>&nbsp;for more information.
        </p>
        <button type="button" class="cookiesBanner_btn btn btn-primary">I&nbsp;Agree</button>
    </div>
</div>
    

    
    <div class="modal fade" id="modalAddFavourite" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Add favorites</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>

      <div class="modal-body">
        <ul class="nav nav-tabs" id="faveTabs" role="tablist">
          <li class="nav-item">
            <a class="nav-link active" id="manual-tab" data-toggle="tab" href="#manual" role="tab" aria-controls="manual" aria-selected="true">Choose</a>
          </li>
          <li class="nav-item">
            <a class="nav-link" id="upload-tab" data-toggle="tab" href="#upload" role="tab" aria-controls="upload" aria-selected="false">Upload list</a>
          </li>
        </ul>
        <div class="tab-content mt-3 pt-2" id="faveTabContent">
          <div class="tab-pane fade show active" id="manual" role="tabpanel" aria-labelledby="manual-tab">
            <form method="post" action="/user/batch-fave" spellcheck="false" autocomplete="off" id="batch-favorite-form">
  <input type="hidden" name="referrer" value="">

    <p>Type tickers, company names, or new folder names to organize your favorites.</p>
    <div class="tokenInput tokeninput-container fake-input fake-input-lg">
        <input type="text" placeholder="Ticker, company name, or new folder name…" name="favourites" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" size="42">
    <script class="tokeninput-data" type="application/json">
    {
    "resultDataProp":"companies",
    "resultTextProp":"name",
    "resultValueProp":"companyId",
    "url":"/search/company?needsXbrl=false&active=true&num=5&allowMultiple=true&q=$query",
    "values":[],
    "type":"lookup",
    "completionGroups" : {
      "companies" : { "heading" : "Companies", "newOption" : false, "singular" : "company" },
      "folders" : { "heading" : "Folder", "newOption" : true, "singular" : "folder" }
      }
    }
    </script>
    </div>
    


  <div class="d-flex mt-6 justify-content-between">
    <button type="submit" class="btn btn-primary">Add favorites</button>
    <button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button>
  </div>
</form>
          </div>
          <div class="tab-pane fade" id="upload" role="tabpanel" aria-labelledby="upload-tab">
            <div id="fave-upload-container">
  <form method="post" action="/user/add-from-favorite-file">

      <div class="not-uploaded">
        <p>
          Upload a CSV, TSV or Excel file of favorites to add (max 5 MB). We'll try to detect columns of tickers, company names, CIKs or CUSIPs. It doesn't
          matter if the file has a header row or not, what order the columns are in, or if you include additional columns that are exported from another system.
        </p>
        <p>
          If you want to organize your favorites into folders, then include a header row, with a column named <strong>Folder</strong> to
          specify a folder for each favorite, e.g. (in this example, the name column is optional):
          </p><pre>  Name,Ticker,Folder
  Apple Inc,AAPL,Watchlist
  Tesla Inc,TSLA,Watchlist
  Microsoft Inc,MSFT,Portfolio</pre>
        <p></p>
        <p>
          If you want to upload a list of favorite searches, then include a header row, with a <strong>Name</strong> column for the search
          terms, and a <strong>Type</strong> column with the value <em>search</em>, along with an optional <strong>Folder</strong> column e.g.
          </p><pre>  Type,Folder,Name
  search,Future Tech,bitcoin OR cryptocurrency
  search,Future Tech,S-1 drones
  search,Green Energy,TSLA "renewable energy"</pre>
        <p></p>
      </div>
      <div class="uploaded-only">
        <table id="matched-upload-table" class="table table-sm">
          <thead>
            <tr>
              <th></th>
              <th colspan="2" class="uploaded-count">Uploaded</th>
              <th colspan="2" class="matched-count">Matched</th>
              <th class="folder-only">Folder</th>
            </tr>
          </thead>
          <tbody></tbody>
        </table>
        <input type="hidden" name="uploadData" id="upload-data" value="">
        <div class="mt-5 p-3 bg-blue-lightest">
          <h6>Important:</h6>
          <div class="form-check">
            <input class="form-check-input" type="radio" name="actionExisting" id="actionExistingAdd" value="add" checked="">
            <label class="form-check-label" for="actionExistingAdd">Add to existing favorites</label>
          </div>
          <div class="form-check">
            <input class="form-check-input" type="radio" name="actionExisting" id="actionExistingReplace" value="replace">
            <label class="form-check-label" for="actionExistingReplace">Remove existing favorites that are not in this list</label>
          </div>
        </div>
      </div>


    <div class="d-flex mt-6 justify-content-between">
      <label class="btn btn-primary not-uploaded" for="upload-faves" id="upload-fave-button">
        Upload favorites list…
        <input type="file" id="upload-faves" class="d-none" name="files">
      </label>
      <button type="submit" class="btn btn-primary uploaded-only">Add selected favorites</button>
      <button type="button" class="btn btn-link d-none d-md-inline-block" data-dismiss="modal">Cancel</button>
    </div>
  </form>
</div>
          </div>
        </div>
      </div>

    </div>
  </div>
</div>

    <div class="modal fade" id="modalRenameFolder" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Rename folder</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>
      <form method="post" action="/user/rename-fave" spellcheck="false" autocomplete="off">
        <div class="modal-body">
          <input type="text" class="form-control" placeholder="Type new folder name…" name="documentSpecifier" autocomplete="off" autocorrect="off" autocapitalize="off" autofocus="on" pattern="[^<>]+">
          <input type="hidden" name="documentId" value="">
        </div>
        <div class="modal-footer">
          <button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button>
          <button type="submit" class="btn btn-primary">Rename</button>
        </div>
      </form>
    </div>
  </div>
</div>
    <div class="modal fade" id="modalAlertSettings" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Alert feed settings</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>
      <form method="post" action="/user/settings" autocomplete="off" id="alert-settings-form" class="no-reset-on-close">
        <div class="modal-body">
          <p>Choose the information that appears in your CapEdge alert feed. You'll see alerts for information that matches your favorite companies.</p>
          <div class="custom-controls-stacked mt-3">
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="ldb" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">Filings</span>
                </label>
                <div class="pl-7 text-muted">New filings from SEC.</div>
            </div>
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="news" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">News</span>
                </label>
                <div class="pl-7 text-muted">Full news stories, breaking headlines, and press releases.</div>
            </div>
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="social" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">Social</span>
                </label>
                <div class="pl-7 text-muted">Message threads from Reddit.</div>
            </div>
            
            <div class="form-group">
                <label class="custom-switch pl-0">
                    <input type="checkbox" name="settings[alertTypes][]" value="user" class="custom-switch-input" checked="checked">
                    <span class="custom-switch-indicator"></span>
                    <span class="custom-switch-description">Community content</span>
                </label>
                <div class="pl-7 text-muted">New community notes and annotations.</div>
            </div>
            
          </div>
        </div>
        <div class="modal-footer">
          <button type="button" class="btn btn-link" data-dismiss="modal">Cancel</button>
          <button type="submit" class="btn btn-primary">Update alerts feed settings</button>
        </div>
      </form>
    </div>
  </div>
</div>
    <div class="modal fade" id="modalSendToNote" tabindex="-1" role="dialog" aria-hidden="true">
  <div class="modal-dialog" role="document">
    <div class="modal-content">
      <div class="modal-header">
        <h3 class="modal-title">Add to note</h3>
        <button type="button" class="close" data-dismiss="modal" aria-label="Close"></button>
      </div>
      <form method="post" action="#" class="no-disable" spellcheck="false" autocomplete="off">
        <div class="modal-body">
          <p>The following content will be added to your chosen note:</p>
          <div id="fragment-preview" class="my-3 text-muted"></div>
          <p>Search or choose a recent note below:</p>
          <div class="tokenInput tokeninput-container fake-input fake-input-lg">
              <input type="text" placeholder="Search your note titles…" name="noteSearch" autocomplete="off" autocorrect="off" autocapitalize="off" tabindex="1" autofocus="on" size="25">
              <script class="tokeninput-data" type="application/json">
              {
                  "resultDataProp":"results",
                  "resultTextProp":"title",
                  "resultValueProp":"id",
                  "url":"/note/notesearch?limit=3&query=$query",
                  "type":"lookup",
                  "completionGroups" : {
                      "bestmatch" : { "heading" : "Best Match" },
                      "notes" : { "heading" : "Notes", "newOption" : true, "singular" : "note" }
                  }
              }
              </script>
          </div>
          <div id="send-recent-list"></div>
        </div>
        <div class="modal-footer">
          <button type="button" class="btn btn-link" data-dismiss="modal" tabindex="2">Cancel</button>
        </div>
      </form>
    </div>
  </div>
</div>
    <div class="dropdown-menu dropdown-menu-sm" id="user-feed-context-menu">
  <a class="dropdown-item context-open" href="#">Open</a>
  <a class="dropdown-item context-open" href="#" target="_blank">Open in new tab</a>
  <div class="dropdown-divider"></div>
  <a class="dropdown-item context-delete" href="#">Delete</a>
</div>
    

    

    

    <div style="display:none" id="google-id" data-id="G-REPSH58KSM,UA-113590965-4"></div>

<div style="display:none" id="google-tag-id" data-id="GTM-5KBPWNG"></div>
<noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-5KBPWNG" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>

    
        <script src="https://www.google.com/recaptcha/api.js" async="" defer=""></script>
    
    <script type="application/json" id="user-data">{"id":"665437da02f04742ce51dd52","loggedIn":true,"settings":{"emailNewFilings":false,"emailSearches":true,"emailCommunityContent":true,"emailProductUpdates":true,"enableAnnotations":true,"enableReadCheckbox":false,"subscribedEmailFilingGroups":["financial","news","registration","proxy","other","ownership"],"subscribedEmailFilingTypes":[],"subscribedCommunityNotifications":["repliesToMine","newOnAnnotated"],"periodicEmailSchedule":"never","stockChartComparison":true,"stockChartPeriod":"1m","toggleFavouritescol":false,"toggleNotescol":true,"toggleAlertscol":true,"collapsedFolders":[],"collapsedCards":[],"annotationsPublic":false,"disableEmailNotes":false,"hideNextSteps":false,"alertTypes":["ldb","news","social","user"],"emailSearchesSchedule":"realtime","folderSettings":[]},"plan":"free"}</script>
    <script type="application/json" id="init-data">{"annotationDocumentRoot":".transcript-container","annotationDocumentType":"transcript","annotationDocumentId":"MEI_3400755","annotationCompanyId":65270}</script>
    <script src="/js/dist/initial.js?v=20240910T035033"></script>
    <script src="/js/dist/build.js?v=20240910T035033" defer=""></script>
    
    <script src="/js/dist/annotator.js?v=20240910T035033" defer=""></script>
    
    
    
  


<script async="" src="/js/dist/annotator-frame.js"></script><div class="annotator-adder" style="display: none;"><button type="button" class="sendTo">Add to note</button><button type="button" class="create">Annotate</button></div></body></html>