MEC Q4 net income $2.4M vs loss; FY23 guidance $540-580M sales

Mayville Engineering Company, Inc.

2022-FY EPS reported $0.91 revenue$539,392,000

Q4 net sales $128.5M (+13.8% YoY); net income $2.4M vs ($13.6M) loss; diluted EPS $0.12 vs ($0.65).
Full-year 2022 net sales $539.4M (+18.6% YoY); net income $18.7M vs ($7.5M) loss; diluted EPS $0.91 vs ($0.36).
FY 2023 guidance: net sales $540-580M, Adjusted EBITDA $62-71M, capex $20-25M.
Adjusted EBITDA Q4 $11.6M (+26.2% YoY); full-year $60.8M (+31.5% YoY).
Net debt $74.9M; leverage 1.3x; Hazel Park ramp-up costs $2.0M in Q4, ~100 bps margin headwind in 2023.

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 0.95

Mayville Engineering Company, Inc. reported three and twelve months ended December 31, 2022 results: revenue $128.5 million, net income $2.4 million, EPS $0.12.

Period: three and twelve months ended December 31, 2022
Revenue: $128.5 million
Net income: $2.4 million
EPS: $0.12
Result: reported results

Exact text from the filing

today announced results for the three and twelve-months ended December 31, 2022. FOURTH QUARTER 2022 RESULTS (All comparisons versus the prior-year period) ● Net sales of $128.5 million, or +13.8% y/y ● Net income of $2.4 million, +$15.9 million y/y ● Diluted earnings per share of $0.12, an increase of $0.77 y/y, including the impact of $2.0 million or $0.10 per

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Mayville Engineering Company, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-002407

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