Highest-materiality recent filing
Mayville Engineering prices upsized $86.9M common stock offering; underwriters exercise option
Priced 4,348,000 shares at $20.00/share; gross proceeds $86.9M before expenses.
MEC Q1 net loss $8.2M; datacenter sales surge 470% YoY; raises FY guidance low end
Net sales $144.8M (+6.8% YoY); net loss $8.2M or ($0.40) per diluted share; Adjusted EPS ($0.15).
Mayville Engineering shareholders reelect directors; McCormick receives 61.8% support
Robert L. McCormick elected with 61.78% of votes cast; 6,391,583 shares withheld (38.22%).
MEC posts Q4 net loss $4.4M; forecasts Q1 adj. EBITDA $5-7M vs $12.2M prior year
Net sales $134.3M (+10.7% y/y); full-year sales $546.5M (-6.0% y/y).
Mayville Engineering cuts revolver to $275M, relaxes leverage covenants, curbs acquisitions
Revolver commitment reduced by $75M to $275M; consent fee of 0.075% paid to lenders.
Mayville Engineering Q3 net loss of $2.7M; guides FY 2025 revenue $528-562M
Net sales $144.3M (+6.6% YoY); organic sales down 9.1%; GAAP EPS ($0.13), adjusted EPS $0.10.
MEC provides Accu-Fab 2024 financials in deal amendment: rev $61M, NI $9.1M
Accu-Fab 2024 net sales $61.0M, net income $9.1M; 2023: $36.1M sales, $2.2M net income.
MEC Q2 net sales $132.3M (-19% YoY); GAAP loss $1.1M; lowers FY2025 guidance
GAAP net loss $1.1M (-$0.05/share) vs prior yr net income $3.8M; adj EPS $0.10 vs $0.26.
Mayville Engineering elects Tania Wingfield to Board of Directors
Elected as Class III director, term expiring at 2026 annual meeting.
Total cash consideration $140.5M, funded via $350M revolving credit facility; deal closed July 1, 2025.
Mayville Engineering expands revolving credit facility to $350M via accordion feature
Revolving credit facility increased from $250M to $350M by exercising $100M accordion.
MEC to acquire Accu-Fab for $140.5M; accretive to margins, enters data center & power markets
Total consideration of $140.5M for Accu-Fab, a metal fabricator serving critical power, data center, and renewable energy OEMs.
Q1 net sales $135.6M (-15.9% YoY); net income $20k vs $3.2M; Adj EBITDA $12.2M
Net sales $135.6M, down 15.9% YoY; GAAP net income $20k (diluted EPS $0.00) vs $3.2M ($0.16) prior year.
Shareholders reelect Reddy (93.91% for), Rothman (53.11% for); Rothman faces 46.89% withheld votes
Elected Jagadeesh A. Reddy (93.91% for) and Jay O. Rothman (53.11% for) as directors for three-year terms.
Appoints Craig Nichols as SVP Operations & Supply Chain, base $415K, LTI $500K
Appointment effective March 10, 2025; Nichols reports to CEO Jag Reddy and leads operations and supply chain.
Mayville Engineering Q4 net sales $121.3M, Adj EBITDA $9.2M; FY2025 guidance muted
Q4 net sales $121.3M (-18.4% YoY); net income $16.0M ($0.76 diluted EPS) includes $25.5M settlement gain.
Director Allen J. Carlson to retire from MEC board at April 2025 annual meeting
Carlson notified the company on Feb 20, 2025 of his intent to retire.
CFO Todd Butz to leave June 2025; CHRO Rachele Lehr named successor effective April 22, 2025
CFO Todd Butz intends to depart MEC on June 30, 2025; will receive $1,042,360 severance.
MEC Q3 net sales down 14.4% to $135.4M; cuts FY2024 guidance
Q3 net income $3.0M ($0.14 diluted EPS); adjusted EPS $0.21 flat YoY.
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.
MEC Q1 net sales $161.3M (+13.1% YoY), adj EBITDA $18.5M (+33.8%), reaffirms FY2024 guidance
Net sales $161.3M (+13.1% YoY, organic growth 3.3%); net income $3.2M ($0.16 diluted EPS), up 26% YoY.
Annual meeting elects directors, ratifies auditor for 2024
Carlson, Christen, Kent elected to three-year terms; vote support 58.28%, 60.61%, 93.21%.
MEC Q4 net sales +15.6% to $148.6M; Adj EBITDA $17.7M; FY2024 guidance issued
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.
COO Rand Stille departs Mayville Engineering; CEO Jag Reddy to lead operations in interim
COO Rand P. Stille leaving effective November 3, 2023, as part of operations team restructuring.
MEC Q3 net sales $158.2M (+16.1%); adj. EPS $0.21; reaffirms FY23 guidance
Net sales $158.2M (+16.1% YoY, organic +6.2%); net income $1.4M ($0.07 diluted EPS); adjusted diluted EPS $0.21.
Mayville Engineering completes acquisition of Mid-States Aluminum; files historical financials
Completed acquisition of Mid-States Aluminum on July 1, 2023, and filed Amendment No. 1 to Form 8-K with audited and unaudited financial statements.
Mayville Engineering Q2 net income drops 73% to $1.6M; raises FY 2023 guidance
Net sales $139.0M (+0.5% y/y); net income $1.6M ($0.08 diluted EPS) vs $5.9M ($0.29) prior year.
Mayville Engineering closes acquisition of Mid-States Aluminum for ~$96M
Purchase price $95,944,962, subject to cash, debt, working capital adjustments.
Mayville Engineering increases revolver to $250M, extends maturity to 2028
Revolving credit facility increased to $250 million from prior amount.
Mayville Engineering acquires Mid-States Aluminum for ~$96M; expects Q3 2023 close
Deal value approximately $96M, subject to customary working capital adjustments.
MEC Q1 net sales $142.6M (+4.7%); adj EBITDA $13.8M, guided FY 2023 $540-580M sales
Net income $2.6M ($0.12 diluted EPS) vs $3.8M ($0.19) y/y; Hazel Park ramp cost $0.10/share.
Mayville Engineering reduces board to 7, re-elects directors at 2023 annual meeting
Board size decreased from 8 to 7 effective April 18, 2023.
MEC Q4 net income $2.4M vs loss; FY23 guidance $540-580M sales
Q4 net sales $128.5M (+13.8% YoY); net income $2.4M vs ($13.6M) loss; diluted EPS $0.12 vs ($0.65).
Mayville Engineering elects Robert McCormick to board of directors
Robert L. McCormick appointed as Class III director effective Dec 21, 2022.
MEC Q3 net sales up 25% to $136.3M; net income $6.6M vs $0.3M; raises FY sales guidance
Net income $6.6M ($0.32 EPS) vs $0.3M ($0.01) in Q3 2021.
Net sales $138.3M (+15% YoY), net income $5.9M (+80%), EPS $0.29 vs $0.16.
Mayville Engineering appoints Jag A. Reddy as President & CEO effective July 19, 2022
Jag Reddy, former W.R. Grace strategy head, named CEO; base salary $675K, target bonus 100% of salary.
MEC Q1 net sales up 21% to $136.3M; net income $3.8M; CEO to retire Sept 30
Net sales $136.3M (+21% YoY); net income $3.8M (+50%); diluted EPS $0.19 vs $0.13.
Mayville Engineering shareholders elect two directors, ratify Deloitte as auditor
Robert D. Kamphuis elected with 71.13% of votes cast, Jay O. Rothman with 62.31%.
MEC CEO Robert D. Kamphuis to retire on Sept 30, 2022; national search launched
Kamphuis, CEO since 2005, will retire as Chairman, President and CEO on September 30, 2022.
Mayville Engineering amends credit agreement, raising 2022 CapEx limit to $65M
Fourth Amendment to Credit Agreement dated March 31, 2022 with Wells Fargo as administrative agent.
Mayville Engineering Q4 net loss $13.6M on $16.9M impairment; full-year sales up 27% to $454.8M
Net sales Q4 $113.0M (+19% YoY); FY $454.8M (+27% YoY).
Mayville Engineering narrows 2021 guidance, provides 2022 outlook with fitness customer delay
2021 net sales narrowed to $450-$455M; adjusted EBITDA $46-$47M (low end of prior range).
Net sales $109.0M, up from $91.1M YoY; net income $0.3M.
Mayville Engineering Q2 2021: Net sales $120.2M, net income $3.3M, guidance reaffirmed
Q2 2021 net sales of $120.2M vs $62.6M in Q2 2020, driven by demand recovery and prior-year pandemic shutdowns.
On March 10, 2025, Mayville Engineering Company, Inc. (the “Company”) announced the appointment of Craig D. Nichols as the Company’s Senior Vice President Operations and Supply Chain effective March 10, 2025.
On February 20, 2025, Allen J. Carlson, a director of Mayville Engineering Company, Inc. (the “Company”), advised the Company that he intends to retire from the Board of Directors following the Company’s 2025 annual meeting of shareholders on April 22, 2025.
Rand P. Stille, the Company’s Chief Operating Officer, will be leaving the Company effective as of November 3, 2023.
On December 21, 2022, the Board of Directors of Mayville Engineering Company, Inc. (the “Company”) elected Robert L. McCormick as a Class III director of the Company to serve for a term to expire at the Company’s 2023 annual meeting of shareholders.
On March 31, 2022 Mayville Engineering Company, Inc. (the “Company”) announced that Robert D. Kamphuis, the Company’s Chairman, President and Chief Executive Officer, will retire (including as a director of the Company) as of September 30, 2022 (the “Retirement Date”).
Max materiality 0.90 · Median 0.70 · Most common event earnings