MEI — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-24

• The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile OEMs and their tiered suppliers across a broad range of vehicle platforms and powertrains. Our capabilities include a full spectrum of vehicle systems from power distribution solutions, inclu…

• Our sales activities are led by global and regional sales account managers, supported by product application engineers and systems engineers who work closely with customers to develop and integrate tailored system solutions. Our product application engineers also play a key role in identifying emerg…

• Our human capital focus is intended to drive an organization dedicated to placing the right talent, with the right capabilities in the right roles to allow us the opportunity to achieve the performance expectations of our stockholders.

• Methode Electronics is dedicated to creating an inclusive workplace where all employees feel respected, valued, and encouraged to voice their opinions, concerns, and ideas.

• As highlighted in our Diversity & Inclusion Statement (available on our corporate website), we believe inclusion of a wide range of perspectives is essential to our long-term success, enabling us to build the workforce we need to deliver for our customers. We make merit-based employment decisions an…

Text removed vs the prior filing · source: 10-K · 2025-07-09

• The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile OEMs, either directly or through their tiered suppliers. Products include integrated overhead and center consoles, hidden and ergonomic switches, transmission lead-frames, insert molded compo…

• The majority of our sales activities are directed by sales managers who are supported by field application engineers and other technical personnel who work with customers to design our products into their systems. Our field application engineers also help us identify emerging markets and new product…

• At Methode, we truly believe that people are our greatest asset. Our human capital focus will continue to drive an organization dedicated to placing the right talent, with the right capabilities in the right roles to allow us the opportunity to achieve the performance expectations of our shareholder…

• At Methode, we strive to maintain an inclusive workforce. We value every member of our workforce and want everyone to feel safe voicing their opinions and concerns.

• As highlighted in our Diversity & Inclusion Statement (available on our corporate website), diversity and inclusion are business imperatives that will enable us to build and empower our future global workforce. We embrace the diversity of our employees worldwide, including their unique backgrounds, …

Text added vs the prior filing · source: 10-K · 2026-06-24

• Changes in EV demand have affected and could continue to affect our business.

• Our business was affected when certain OEMs significantly deferred or cancelled planned EV programs or reduced production volumes below previously quoted levels to align with reduced customer demand. Should these developments continue, they could adversely affect our profitability and operational pl…

• We manage our business based on projected future sales volume, which is highly dependent on information received from customers and third-party market data, and any inaccuracies or changes in such information could adversely affect our business, results of operations and financial condition.

• We manage our business based upon projected future sales volumes, which are based upon many factors, including awarded business and assumptions of conversion rates thereof, customers’ forecasts, and general macroeconomic and industry market data. Where possible, we utilize third-party forecast data …

• We manufacture and sell our products globally and rely on a global supply chain to deliver the required raw materials, components, and parts, as well as the final products to our customers. Starting 2025, the U.S. administration imposed extensive new tariffs on many countries where we do business, i…

Text removed vs the prior filing · source: 10-K · 2025-07-09

• Over the last several fiscal years, we have booked many EV-related programs. If we are unable to launch new products in a timely and cost-effective manner, or our customers delay the launch of their new programs or significantly reduce new product volumes, our business, financial condition and resul…

• A significant portion of our business is derived from components for use in EV. Recently, there have been lower-than-anticipated industrywide EV adoption rates, which has led many OEMs across the entire industry to adjust spending, order volumes, and/or product launch timing, or cancel programs alto…

• Certain OEMs have recently deferred or cancelled planned EV programs or reduced production volumes below previously quoted levels often citing softened consumer demand. We are pursuing these customers for price adjustments and other commercial recoveries in view of the pre-production, tooling, engin…

• We manage our business based on projected future sales volume, which is highly dependent on information received from customers and general market data, and any inaccuracies or changes in such information could adversely affect our business, results of operations and financial condition.

• We manage our business based upon projected future sales volumes, which are based upon many factors, including awarded business and assumptions of conversion rates thereof, customers’ forecasts and general macroeconomic and industry market data. Our product revenues generally are based upon purchase…

Text added vs the prior filing · source: 10-K · 2026-06-24

• We are a leading global supplier of custom engineered solutions with sales, engineering, and manufacturing locations in North America, Europe, the Middle East, and Asia. We design, engineer, and manufacture mechatronic products for Original Equipment Manufacturers (“OEMs”) and tiered suppliers acros…

• We are exposed to market risk from duties assessed on raw materials, component parts, and finished goods imported into the U.S. Beginning in 2025, the U.S. implemented new tariffs across multiple jurisdictions in which we operate, including broad country-level measures and product-specific tariffs a…

• Given our manufacturing operations across multiple jurisdictions, including Canada, China, Egypt, Europe, and Mexico, the continuation or expansion of tariffs and other trade barriers could increase input costs, pressure margins or affect customer demand. During fiscal 2026, we mitigated these effec…

• Our business in the future will be affected by the broad trend of electrification. The adoption of EVs has been slower than anticipated, in light of recent U.S. government policy changes, including the termination of certain consumer tax incentives for EV purchases and certain of our customers have …

• The US-Israeli strikes in Iran and the Iranian retaliatory strikes in the Middle East have also affected the global economy and given rise to potential global security issues that may adversely affect international business and economic conditions. This conflict in the Middle East may cause addition…

Text removed vs the prior filing · source: 10-K · 2025-07-09

• We are a leading global supplier of custom engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer and produce mechatronic products for OEMs utilizing our broad range of technologies for user interface, LED lighting…

• We are exposed to market risk with respect to duties currently assessed on raw materials, component parts and finished goods we import into the U.S. Since February 1, 2025 and up to the date of this Annual Report, the U.S. has announced and implemented various tariffs, including:

• 25% tariff on imports of automobiles and certain automobile parts into the U.S. from all countries. Automobile parts that meet specific rules of origin under the United States-Mexico-Canada Agreement (“USMCA”) are currently exempt, however it is possible that this exemption may be modified to only i…

• 50% tariff on imports of steel and certain steel derivatives into the U.S.

• 25% tariff on imports of aluminum and certain aluminum derivatives into the U.S.