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.
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.
Max materiality 0.85 · Median 0.70 · Most common event earnings