Methode Electronics, Inc. (NYSE:MEI) Q1 2024 Earnings Call Transcript

Don Duda: No. Not at all. I take a little comfort and then we had good sales and cost us a lot to ship those. But ours is not a sales issue, ours is an execution issue that is internal we did to ourselves that we can fix. I can, e-bike — what I like to sell more sensors in the e-bike of course, but I can’t do anything about that. But I can do something about the factory. So, I do take — I don’t think comfort is the right word John but I only one it comes to mind.

Gary Prestopino: All right, thank you very much.

Don Duda: Thank you.

Operator: Thank you. Our next question is coming from John Franzreb with Sidoti and Company. Your line is live.

John Franzreb: Yes, I think we kind of avoid touching on the Class A truck market today. It seems that ACT has been narrowing expectations of the depth and duration of the potential downturn in the Class A trucks. What are your thoughts about that market, are you more bullish or bearish — its current ACT trends, can you just talk to that a little bit?

Ron Tsoumas: We’ve — I can’t say we’ve seen an increase but it hasn’t decreased more than bottomed as ACT had predicted. I’m not comfortable saying that it’s not going to go down. I think they said like 1% now, something like that. So, I mean, our view is it will dip below the average line but maybe recover faster, which gives me additional comfort for ’25. So, I’m not quite there yet, but I’m less concerned than it was a quarter ago if that helps.

John Franzreb: Yes. It actually does. It makes sense to me. Okay, all right, thank you. Thanks for taking my question.

Don Duda: And Gary, I need to apologize, I called you john at the close of your questions. I apologize.

John Franzreb: It’s okay.

Operator: Thank you. We have reached the end of our question-and-answer session. So, I will now hand it back to Mr. Duda for any closing remarks.

Don Duda: Well, thank you operator, and will thank everyone for joining us today. Good day.

Operator: Thank you. This concludes today’s conference and you may disconnect your lines at this time. We thank you for your participation.