MEC Q3 net sales up 25% to $136.3M; net income $6.6M vs $0.3M; raises FY sales guidance

Mayville Engineering Company, Inc.

2022-Q3 EPS reported $0.80 revenue$410,865,000

Net income $6.6M ($0.32 EPS) vs $0.3M ($0.01) in Q3 2021.
Adjusted EBITDA $16.1M, up 61% from $10.0M.
Net sales $136.3M, driven by improved volumes and pricing.
2022 outlook: sales $520-540M, adjusted EBITDA $58-65M; capex $55-65M.
Hazel Park facility commenced production; filed breach-of-contract lawsuit against former fitness customer.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mayville Engineering Company, Inc. reported full year 2022 results: revenue between $520 million and $540 million.

Period: full year 2022
Revenue: between $520 million and $540 million
Result: guidance update

Exact text from the filing

The Company is refining its 2022 financial outlook and has adjusted its expectations as follows: ● Net sales of between $480 million and $530 million has been updated to between $520 million and $540 million. ● Adjusted EBITDA between $58 million and $70 million has been updated to between $58 and $65 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mayville Engineering Company, Inc. reported third quarter ended September 30, 2022 results: revenue $136.3 million, net income $6.6 million, EPS $0.32.

Period: third quarter ended September 30, 2022
Revenue: $136.3 million
Net income: $6.6 million
EPS: $0.32
Result: reported results

Exact text from the filing

Third Quarter 2022 Highlights (all metrics compared to third quarter 2021) ● Net sales grew approximately 25% to $136.3 million ● Net income increased significantly from $0.3 million to $6.6 million ● Basic earnings per share increased by $0.31 to $0.32

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Mayville Engineering Company, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-015826

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