secwatch.observer — SEC 8-K summary
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Issuer:     Mayville Engineering Company, Inc. (MEC)
CIK:        0001766368
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001558370-24-007071
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766368/000155837024007071/0001558370-24-007071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766368/000155837024007071/tmb-20240507x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-007071

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