MEC Earnings Reports

Mayville Engineering Company (MEC) reported Q4 2024 revenue of $121.3 million, an 18.4% decline from the prior year due to lower customer demand across key end markets. Despite this, net income surged to $16.0 million, up from $2.2 million in Q4 2023, largely due to a $25.5 million lawsuit settlement gain. Adjusted EBITDA fell to $9.2 million from $17.7 million in the prior year, reflecting lower sales and cost absorption challenges. Free cash flow increased to $35.6 million, bolstered by the settlement proceeds.

Mayville Engineering Company announced strong second-quarter results with a 17.7% increase in net sales, reaching $163.6 million, and a 28.4% increase in Adjusted EBITDA to $19.6 million. The company's performance was driven by strong project volumes in key markets, offsetting softness in the military sector. MEC also increased its full-year free cash flow guidance.

Mayville Engineering Company reported a strong start to 2024 with double-digit sales growth, margin expansion, improved profitability, and robust free cash flow. Net sales increased by 13.1% year-over-year to $161.3 million, and adjusted EBITDA increased by 33.8% to $18.5 million. The company is on track to achieve its full-year 2024 financial guidance.

Mayville Engineering Company reported a 15.6% increase in net sales to $148.6 million for Q4 2023, driven by organic growth and the acquisition of MSA. Net income was $2.2 million, or $0.11 per diluted share, with an adjusted EBITDA of $17.7 million. The company experienced a negative impact from UAW labor strikes but achieved a record quarterly free cash flow of $19.9 million.

Mayville Engineering Company (MEC) reported strong third-quarter results, with a 16.1% increase in net sales to $158.2 million, driven by organic growth and the acquisition of Mid-States Aluminum. Adjusted EBITDA rose to $19.2 million, and the company generated a record quarterly free cash flow of $16.1 million. The company reaffirmed its full-year 2023 financial guidance.

Mayville Engineering Company reported a slight increase in net sales and a decrease in net income for the second quarter of 2023. The company's Adjusted EBITDA was $15.3 million, with an Adjusted EBITDA margin of 11.0%. The company is increasing its full-year 2023 guidance, including partial-year contributions from the MSA acquisition.

Mayville Engineering Company (MEC) reported a 4.7% increase in net sales to $142.6 million for the first quarter of 2023. Net income was $2.6 million, with diluted EPS of $0.12. Adjusted EBITDA was $13.8 million, impacted by the Hazel Park facility ramp. The company reiterated its full-year 2023 financial guidance.

Mayville Engineering Company (MEC) reported a strong fourth quarter in 2022, with a 13.8% increase in net sales and a significant improvement in net income compared to the prior year. The company's adjusted EBITDA also increased by 26.2%, reflecting the positive impact of its business transformation initiatives and favorable demand conditions.

Mayville Engineering Company reported a strong third quarter with net sales increasing by approximately 25% to $136.3 million and net income increasing significantly from $0.3 million to $6.6 million.

Mayville Engineering Company reported a 15% increase in net sales, reaching $138.3 million, and an 80% increase in net income to $5.9 million. The company delivered adjusted EBITDA of $18.2 million, up from $14.0 million in the prior year period. MEC reiterated its 2022 financial outlook.

Mayville Engineering Company reported a 21% increase in net sales, reaching $136.3 million, and a 50% increase in net income to $3.8 million. Adjusted EBITDA also increased to $14.8 million. The company is reiterating its 2022 financial outlook.

Mayville Engineering Company (MEC) reported a 19% increase in net sales to $113.0 million for Q4 2021 compared to the prior year period. However, the company recorded a net loss of $13.6 million, which included a $16.9 million impairment charge related to an agreement with a new fitness customer. Adjusted EBITDA was $9.2 million, with an Adjusted EBITDA Margin of 8.1%.

Mayville Engineering Company reported net sales of $109.0 million and net income of $0.3 million for the third quarter of 2021. The company generated Adjusted EBITDA of $10.0 million and is modifying its 2021 financial outlook back to original projections based on short-term volume changes.

Mayville Engineering Company (MEC) announced strong second-quarter results, driven by ongoing demand across end markets. The company reported net sales of $120.2 million and net income of $3.3 million, with adjusted EBITDA reaching $14.0 million.

Mayville Engineering Company reported strong first-quarter results, driven by improving economic conditions and end-market demand, along with cost-optimizing initiatives. Net sales increased to $112.6 million, and the company generated an adjusted EBITDA of $13.0 million.

Mayville Engineering Company reported net sales of $95.3 million and net income of $1.0 million for Q4 2020. Adjusted EBITDA was $9.3 million, or 9.8% of net sales. The company reduced total funded debt to $47.9 million.

Mayville Engineering Company (MEC) reported net sales of $91.1 million and an adjusted EBITDA of $9.8 million, or 10.8% of net sales for Q3 2020. The company reduced total funded debt by $14.6 million to $62.8 million. Despite volume declines, all existing customer relationships and manufacturing programs remain intact.

Mayville Engineering Company (MEC) reported net sales of $62.6 million and a net loss of $7.0 million for the second quarter ended June 30, 2020. The company's performance was affected by COVID-19 related customer shutdowns and destocking activities. However, MEC focused on cost structure improvements and is actively pursuing new revenue opportunities.

Mayville Engineering Company (MEC) reported net sales of $108.6 million and a net income of $0.1 million for the first quarter of 2020. The company's adjusted EBITDA was $11.4 million. MEC withdrew its guidance due to the uncertainty caused by the COVID-19 pandemic.

Mayville Engineering Company announced Q4 2019 results, which were impacted by sudden shifts in demand that started in the late third quarter. Despite these challenges, the company reaffirmed its 2020 outlook and remains focused on leveraging agility to shift capacities and pursue new customer opportunities.