Mayville Engineering Q2 net income drops 73% to $1.6M; raises FY 2023 guidance

Mayville Engineering Company, Inc.

2023-Q2 EPS reported $0.20 revenue$281,626,000

Net sales $139.0M (+0.5% y/y); net income $1.6M ($0.08 diluted EPS) vs $5.9M ($0.29) prior year.
Adjusted EBITDA $15.3M (11.0% margin), including $1.4M loss from Hazel Park ramp-up; prior year $18.2M (13.1%).
Raises FY 2023 guidance: net sales $580-610M, Adjusted EBITDA $66-71M; expects H2 margin expansion.
Closed acquisition of Mid-States Aluminum for $96M on July 1; anticipates $30-35M sales, $4-6M EBITDA contribution in H2.
Net debt $89.7M, net leverage 1.61x; free cash flow guidance $25-35M for remainder of 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 the three months ended June 30, 2023 results: revenue $139.0 million, net income $1.6 million, EPS $0.08 per diluted share. Guidance raised.

Period: the three months ended June 30, 2023
Revenue: $139.0 million
Net income: $1.6 million
EPS: $0.08 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

diverse end-markets, today announced results for the three months ended June 30, 2023. SECOND QUARTER 2023 RESULTS (All comparisons versus the prior-year period) ● Net sales of $139.0 million, or +0.5% y/y ● Net income of $1.6 million, or $0.08 per diluted share ● Non-GAAP Adjusted Diluted EPS of $0.20 ● Adjusted EBITDA of $15.3 million, including a $1.4 million

View on SEC.gov

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

Mayville Engineering Company, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-012744

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.