secwatch.observer — SEC 8-K summary
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Issuer:     Mayville Engineering Company, Inc. (MEC)
CIK:        0001766368
Form:       8-K
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0001558370-23-017127
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MEC Q3 net sales $158.2M (+16.1%); adj. EPS $0.21; reaffirms FY23 guidance
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- Net sales $158.2M (+16.1% YoY, organic +6.2%); net income $1.4M ($0.07 diluted EPS); adjusted diluted EPS $0.21.
- Adjusted EBITDA $19.2M (12.1% margin); excludes $1.7M Hazel Park ramp loss; record free cash flow $16.1M.
- Reaffirmed FY23 guidance: net sales $580-610M, Adj. EBITDA $66-71M, capex $15-20M; includes MSA contribution.
- Repaid $17.1M of MSA acquisition debt; net debt leverage 2.46x; repurchased $1.0M of stock in Q3.
- UAW strike estimated to reduce Nov. sales by $6-7M and EBITDA by $1-2M per month; included in guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766368/000155837023017127/0001558370-23-017127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766368/000155837023017127/tmb-20231031x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-017127

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