MEC Q1 net sales $161.3M (+13.1% YoY), adj EBITDA $18.5M (+33.8%), reaffirms FY2024 guidance

Mayville Engineering Company, Inc.

2024-Q1 EPS reported $0.16 revenue$161,269,000

Net sales $161.3M (+13.1% YoY, organic growth 3.3%); net income $3.2M ($0.16 diluted EPS), up 26% YoY.
Adjusted EBITDA $18.5M, margin 11.5% (+180 bps YoY); adjusted diluted EPS $0.22 vs $0.17.
Free cash flow $7.9M vs ($8.5M) prior year; repaid $7.9M debt; net debt/adj. EBITDA ~2.0x.
Powersports sales +25.7% YoY; Construction & Access +7.3%; Commercial Vehicle -0.3%.
FY2024 guidance reaffirmed: net sales $620-640M, adj EBITDA $72-76M, FCF $35-45M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Mayville Engineering Company, Inc. reported the three-months ended March 31, 2024 results: revenue $161.3 million, net income $3.2 million, EPS $0.16 per diluted share. Guidance reaffirmed.

Period: the three-months ended March 31, 2024
Revenue: $161.3 million
Net income: $3.2 million
EPS: $0.16 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

end markets, today announced results for the three-months ended March 31, 2024. FIRST QUARTER 2024 RESULTS (All comparisons versus the prior-year period) ● Net sales of $161.3 million, or +13.1% y/y, including organic growth of 3.3% y/y ● Net income of $3.2 million, or $0.16 per diluted share, an increase of 26% y/y, or $0.04 per diluted share ● Non-GAAP

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Source: SEC EDGAR

accession 0001558370-24-007071

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