secwatch.observer — SEC 8-K summary
======================================

Issuer:     Mayville Engineering Company, Inc. (MEC)
CIK:        0001766368
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001558370-24-011107
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MEC reports Q2 net sales up 17.7% to $163.6M, raises FY free cash flow guidance to $45-55M
--------------------------------------------------------------------------------

- Net income $3.8M ($0.18 diluted EPS); adjusted EPS $0.26 vs $0.20 prior year.
- Adjusted EBITDA $19.6M (12.0% margin), up 28.4% YoY; manufacturing margin improved to 13.6%.
- Free cash flow $19.2M in Q2 vs ($3.7M) prior year; FY FCF guidance raised to $45-55M from $35-45M.
- Repaid $17.8M of acquisition-related debt; net leverage below 1.7x, triggering 30 bps rate reduction.
- Commercial vehicle sales +10.8%, powersports +26.3%; military sales -26.2% on aftermarket program roll-off.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1766368/000155837024011107/0001558370-24-011107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1766368/000155837024011107/tmb-20240806x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011107

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer