MEC Q4 net sales +15.6% to $148.6M; Adj EBITDA $17.7M; FY2024 guidance issued

Mayville Engineering Company, Inc.

Q4 net sales $148.6M (+15.6% y/y), organic growth 6.1%; net income $2.2M ($0.11 diluted EPS), Adj EPS $0.21.
Full-year 2023 net sales $588.4M (+9.1% y/y); Adj EBITDA $66.1M (11.2% margin); record quarterly FCF $19.9M in Q4.
UAW strikes reduced Q4 sales ~$5M, Adj EBITDA $1.6M; Hazel Park ramp-up cost $1.3M in Q4.
FY2024 guidance: net sales $620-640M, Adj EBITDA $72-76M, free cash flow $35-45M.
MSA acquisition expected to deliver ≥$20M annual synergies by 2026; net leverage target 1.5x-2.0x by end-2024.

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 three and twelve months ended December 31, 2023 results: revenue $148.6 million, net income $2.2 million, EPS $0.11 per diluted share. Guidance initiated.

Period: three and twelve months ended December 31, 2023
Revenue: $148.6 million
Net income: $2.2 million
EPS: $0.11 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

today announced results for the three and twelve-months ended December 31, 2023. FOURTH QUARTER 2023 RESULTS (All comparisons versus the prior-year period) ● Net sales of $148.6 million, or +15.6% y/y, including organic growth of 6.1% y/y ● Net income of $2.2 million, or $0.11 per diluted share; Non-GAAP Adjusted Diluted EPS of $0.21 ● Adjusted EBITDA of $17.7

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mayville Engineering Company, Inc. reported the three and twelve-months ended December 31, 2023 results: revenue $588.4 million, net income $7.8 million, EPS $0.38 per diluted share. Guidance initiated.

Period: the three and twelve-months ended December 31, 2023
Revenue: $588.4 million
Net income: $7.8 million
EPS: $0.38 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

● Ratio of net debt to trailing twelve-month Adjusted EBITDA of 2.1x as of Dec 31, 2023 FULL-YEAR 2023 RESULTS (All comparisons versus the prior-year period) ● Net sales of $588.4 million, or +9.1% y/y, including organic growth of 4.3% y/y ● Net income of $7.8 million, or $0.38 per diluted share; non-GAAP Adjusted Diluted EPS of $0.79 ● Adjusted EBITDA of $66.1

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mayville Engineering Company, Inc. updated its guidance (initiated).

Guidance: initiated
Result: guidance update

Exact text from the filing

FULL-YEAR 2024 FINANCIAL GUIDANCE ● Net sales of between $620 million and $640 million ● Adjusted EBITDA of between $72 million and $76 million ● Free Cash Flow of between $35 million to $45 million

View on SEC.gov

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

Mayville Engineering Company, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-002488

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.