Welcome to our dedicated page for Mayville Engineering news (Ticker: MEC), a resource for investors and traders seeking the latest updates and insights on Mayville Engineering stock.
About Mayville Engineering
Mayville Engineering Co Inc is a comprehensive manufacturing partner renowned for its complete, vertically integrated suite of production solutions. With a history spanning over 60 years, the company has established itself as a trusted provider in heavy-duty and medium-duty commercial vehicles, construction, power sports, agriculture, military, medical, and communications sectors. Its diverse expertise in engineering, metal fabrication, and mechanical + electro-mechanical assembly positions it as an authoritative resource in the precision engineering industry.
Comprehensive Manufacturing Solutions
The core strength of Mayville Engineering lies in its ability to guide customers through every stage of the manufacturing process. From initial design and prototyping to tooling, fabrication, coating, assembly, and logistical support, the company delivers solutions that are tailored to meet a wide array of market needs. Its services encompass stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, and assembly services, ensuring that complex manufacturing challenges are met with innovative and reliable solutions.
Diverse Service Offerings and Industry Expertise
Mayville Engineering serves multiple end markets with a diversified portfolio that caters to both commercial and specialized sectors. The company’s capabilities extend to:
- Prototyping and Contract Production: Rapid development and delivery from conceptual designs to functional samples.
- Metal Fabrication and Assembly: Precision machining and assembly solutions that drive performance for demanding applications.
- Electro-Mechanical Assembly and Testing: Integrated approaches combining mechanical and electronic aspects, ensuring robust final products.
- Specialized Coating and Logistical Solutions: Advanced coating processes and end-to-end logistical management that maintain product integrity throughout the supply chain.
- Tube Bending, Laser Cutting, and Welding: Specialized techniques that support high-precision requirements needed in sectors such as military, agriculture, and commercial vehicles.
Operational Excellence and Market Position
Known for its award-winning operations and employee-owned model, Mayville Engineering demonstrates a unique combination of innovation and reliability. The company’s integrated approach minimizes risk by offering a single-source solution that optimizes both production quality and cost efficiency. By leveraging its extensive production capabilities and deep industry insights, Mayville Engineering positions itself as a strategic partner capable of addressing complex manufacturing challenges faced by modern industries.
Quality, Innovation, and Trust
At its core, Mayville Engineering emphasizes quality management and continual process improvements. Its rigorous validation and testing procedures ensure that each product meets high standards of safety, durability, and performance. The company’s focus on innovation, combined with its history of providing custom solutions that are both precise and resilient, builds a level of trust that is fundamental in competitive market sectors.
Customer-Centric Solutions and Market Outreach
Mayville Engineering's diverse customer base ranges from large military contractors to smaller niche manufacturers in the agricultural and construction industries. This expansive market presence is supported by its agile production platform, allowing the company to respond effectively to changes in market demand and technological advancements without compromising on quality. The company remains committed to exceeding customer expectations by offering tailored solutions that are designed to integrate seamlessly into every stage of the client’s manufacturing process.
Industry Keywords and Strategic Insights
Integrating strategic industry-specific keywords, such as precision engineering, advanced manufacturing, and electro-mechanical assembly, this comprehensive guide encapsulates the nature of Mayville Engineering's operations. Its operational philosophy is underpinned by a commitment to craft solutions that matter to a wide range of sectors while demonstrating an expert understanding of the mechanics, logistics, and technological needs of modern manufacturing. Every project undertaken by the company is a testament to its high level of expertise and the trust it has built across decades of service.
Conclusion
Through its integrated production services, longstanding legacy, and diversified market engagement, Mayville Engineering not only meets the evolving needs of its customers but also exemplifies thorough expertise in manufacturing solutions. Its sophisticated approach to engineering challenges and its broad operational portfolio position it as a significant, dependable player in the global manufacturing landscape. This detailed overview provides investors and industry observers a clear insight into how Mayville Engineering continues to impact multiple markets through its robust and comprehensive service offerings.
Mayville Engineering Company (NYSE: MEC) has appointed Craig Nichols as Senior Vice President Operations and Supply Chain, effective March 10, 2025. Nichols, who brings over 30 years of operations, supply chain management, and manufacturing expertise, will report directly to President and CEO Jag Reddy.
Throughout his career, Nichols has demonstrated success in implementing continuous improvement initiatives across multi-site global manufacturing organizations. The appointment aligns with MEC's strategic MBX value-creation framework, focusing on optimizing the business for long-term, profitable growth.
Mayville Engineering Company (NYSE: MEC) reported Q4 2024 results with net sales of $121.3 million and net income of $16.0 million ($0.76 per diluted share). The quarter saw Adjusted EBITDA of $9.2 million with a 7.6% margin.
For full-year 2024, MEC achieved net sales of $581.6 million (-1.2% YoY), net income of $26.0 million ($1.24 per diluted share), and Adjusted EBITDA of $64.4 million with an 11.1% margin. The company generated Free Cash Flow of $77.7 million, including $25.5 million from a settlement agreement.
Looking ahead to 2025, MEC projects net sales between $560-590 million and Adjusted EBITDA of $60-66 million. The company booked over $100 million in new business wins in 2024, up 12% from the prior year. Management expects muted demand conditions in H1 2025, with gradual improvement anticipated in H2.
Mayville Engineering Company (NYSE: MEC) has scheduled its fourth quarter and full year 2024 financial results announcement for Tuesday, March 4, 2025, after market close. The company will host a conference call and webcast on Wednesday, March 5, 2025, at 10:00 a.m. ET to discuss the results and conduct a Q&A session.
Investors can access the webcast and presentation materials through MEC's investor relations website at https://ir.mecinc.com. Participants are advised to register at least 15 minutes before the scheduled start time to ensure proper setup.
Mayville Engineering Company (NYSE: MEC) announced a leadership transition with Chief Financial Officer Todd Butz set to leave by June 30, 2025. Rachele Lehr, Chief Human Resources Officer, will succeed him as CFO effective April 22, 2025, after the annual shareholders' meeting. Lehr has over 25 years of experience in corporate finance, strategic planning, and human resources, previously holding senior roles at Briggs & Stratton and working with PwC. CEO Jag Reddy praised Lehr's strategic leadership and organizational transformation abilities. Butz, who joined MEC in 2008, was acknowledged for his contributions to the company's multi-year value creation strategy. Lehr expressed enthusiasm for her new role, aiming to drive long-term value for stakeholders. MEC also reaffirmed its full-year 2024 financial guidance.
Mayville Engineering Company (NYSE: MEC) reported Q3 2024 results with net sales of $135.4 million, down 14.4% year-over-year. Net income increased to $3.0 million ($0.14 per diluted share), up $1.6 million from prior year. The company faced softening demand and customer de-stocking, leading to implementation of cost rationalization initiatives including 12% workforce reduction and facility closure. Adjusted EBITDA was $17.1 million (12.6% margin), down 11.2%. MEC received a $25.5 million settlement from a former fitness customer. The company reduced its 2024 guidance, now expecting net sales of $580-590 million and Adjusted EBITDA of $63-66 million.
Mayville Engineering Company (NYSE: MEC) has announced a formal Settlement Agreement with Peloton Interactive to resolve a previously-disclosed lawsuit. Under the agreement terms, MEC will receive a $25.5 million gross payment from Peloton, and both parties will dismiss the lawsuit and exchange mutual releases. The agreement was executed on October 28, 2024, with no admission of liability by either party.
Mayville Engineering Company (NYSE: MEC) has scheduled its third quarter 2024 earnings release for Tuesday, November 5, 2024, after market close. The company will host a conference call and webcast on Wednesday, November 6, 2024, at 10:00 a.m. ET to discuss the results and conduct a Q&A session. The webcast and presentation materials will be accessible through MEC's investor relations website. The earnings call can be accessed via phone using specific dial-in numbers for US and Canadian participants, and a replay will be available through November 20, 2024.
Mayville Engineering Company (NYSE: MEC), a leading Tier I value-added provider of design, prototyping, and manufacturing solutions, has announced its participation in the D.A. Davidson 23rd Annual Diversified Industrials and Services Conference. The event is scheduled for September 18-20, 2024 in Nashville, Tennessee.
MEC's President and CEO Jag Reddy, along with CFO Todd Butz, will be attending the conference. They will be available for one-on-one meetings with registered investors during the event. This participation underscores MEC's commitment to engaging with investors and showcasing its position in diverse end-markets.
Interested parties seeking more information about MEC's involvement in the conference are encouraged to contact their D.A. Davidson representative.
Mayville Engineering Company (NYSE: MEC) reported strong Q2 2024 results with net sales up 17.7% to $163.6 million, including 6.9% organic growth. Net income increased to $3.8 million, or $0.18 per diluted share. Adjusted EBITDA rose 28.4% to $19.6 million, with margin expanding 100 bps to 12.0%. Free cash flow improved significantly to $19.2 million.
Key highlights:
- Commercial vehicle sales up 10.8% to $62.1 million
- Powersports sales up 26.3% to $30.3 million
- Net debt to trailing twelve-month Adjusted EBITDA ratio below 1.7x
- Full year 2024 free cash flow guidance raised to $45-$55 million
MEC reaffirmed 2024 guidance for net sales of $620-$640 million and Adjusted EBITDA of $72-$76 million. The company continues to execute its MEC Business Excellence (MBX) initiatives to drive operational improvements and margin expansion.
Mayville Engineering Company (NYSE: MEC), a leading provider of design, prototyping, and manufacturing solutions, has announced its second quarter 2024 results conference call and webcast. The company will release its Q2 2024 results after market close on Tuesday, August 6, 2024. A conference call to discuss the results is scheduled for Wednesday, August 7, 2024, at 10:00 a.m. ET.
Investors can access the webcast and presentation materials through MEC's corporate website. To participate in the live teleconference, US participants can call 1-833-470-1428, while Canadian participants can call 1-833-950-0062, using the access code 300362. A replay of the call will be available until August 21, 2024.
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