Mayville Engineering Q2 2021: Net sales $120.2M, net income $3.3M, guidance reaffirmed

Mayville Engineering Company, Inc.

2021-Q2 EPS reported $0.28 revenue$232,833,000

Q2 2021 net sales of $120.2M vs $62.6M in Q2 2020, driven by demand recovery and prior-year pandemic shutdowns.
Net income of $3.3M in Q2 2021 compared to net loss of $1.8M in Q2 2020; adjusted EBITDA $14.0M.
New 450,000 sq ft facility in Hazel Park, MI on track for early 2022 production; capex guidance $55-65M.
2021 outlook confirmed: net sales $470-490M, adjusted EBITDA $48-52M, including $3.5-5.1M launch costs.
Net debt $46.2M; leverage ratio 1.0x vs covenant max 3.75x; capital expenditures $17M in first half 2021.

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