secwatch.observer — SEC 8-K summary
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Issuer:     Mayville Engineering Company, Inc. (MEC)
CIK:        0001766368
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001558370-24-002488
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766368/000155837024002488/0001558370-24-002488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766368/000155837024002488/tmb-20240305x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-002488

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