secwatch.observer — SEC 8-K summary
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Issuer:     Mayville Engineering Company, Inc. (MEC)
CIK:        0001766368
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001558370-23-007662
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MEC Q1 net sales $142.6M (+4.7%); adj EBITDA $13.8M, guided FY 2023 $540-580M sales
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- Net income $2.6M ($0.12 diluted EPS) vs $3.8M ($0.19) y/y; Hazel Park ramp cost $0.10/share.
- Adjusted EBITDA $13.8M (9.7% margin) down 6.3% y/y; ex-Hazel Park +5.6% y/y with 10.9% margin.
- Commercial Vehicle sales +16.3% y/y; Military +65.7% on new programs and Ukraine conflict.
- Full-year 2023 guidance reiterated: net sales $540-580M, adj EBITDA $62-71M, capex $20-25M.
- Net debt/ttm adj EBITDA 1.4x; $196.3M total availability under credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766368/000155837023007662/0001558370-23-007662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766368/000155837023007662/tmb-20230502x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-007662

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