Mayville Engineering Q3 net sales $109M, net income $0.3M; guides FY21 sales $450-470M, EBITDA $46-52M

Mayville Engineering Company, Inc.

2021-Q3 EPS reported $0.29 revenue$341,851,000

Net sales $109.0M, up from $91.1M YoY; net income $0.3M.
Adjusted EBITDA $10.0M; guides FY21 adjusted EBITDA $46-52M net of launch costs $3.7-4.3M.
FY21 net sales guidance $450-470M; capex $52-57M with $35-40M for new Hazel Park facility.
Launch costs for Hazel Park $0.8M in Q3; initial phase on track for 1H22, second phase 2H22.
Supply chain constraints and labor challenges affecting near-term volumes; leverage 1.2x, net debt $56.9M.

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