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Sep 30, 2020
MEC Q3 2020 Earnings Report
MEC's financial performance improved sequentially, and debt was further reduced due to strong cash flow.
Key Takeaways
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.
Net sales were $91.1 million.
Net loss was $1.1 million.
Adjusted EBITDA was $9.8 million, or 10.8% of net sales.
Total funded debt reduced by $14.6 million to $62.8 million.
MEC
MEC
Forward Guidance
Due to the ongoing economic uncertainty related to the pandemic, and consistent with most of our customers, the Company is not providing a financial outlook.