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Jun 30, 2023
MEC Q2 2023 Earnings Report
MEC's second quarter results reflected stable sales and improved EBITDA margin.
Key Takeaways
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.
Net sales increased by 0.5% year-over-year to $139.0 million.
Net income decreased to $1.6 million, or $0.08 per diluted share.
Adjusted EBITDA was $15.3 million, with an 11.0% margin.
Full-year 2023 guidance was increased to reflect the MSA acquisition.
Revenue by Segment
Forward Guidance
The Company increased financial guidance for the full year 2023, anticipating growth in powersports and military end-markets, partially offset by softer demand in commercial vehicle and construction markets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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