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.
Mayville Engineering Company (MEC) provides comprehensive manufacturing solutions across defense, agriculture, and commercial vehicle sectors. This news hub aggregates official press releases, financial disclosures, and strategic updates essential for understanding the company's market position.
Investors and industry professionals will find timely updates on earnings reports, facility expansions, technological innovations, and supply chain developments. Our curated collection ensures access to verified information about MEC's prototyping advancements, production milestones, and industry partnerships.
The repository includes critical updates such as leadership changes, contract awards, operational improvements, and sustainability initiatives. All content maintains strict compliance with financial disclosure standards while emphasizing MEC's core competencies in precision metal fabrication and electro-mechanical assembly.
Bookmark this page for streamlined access to Mayville Engineering's latest developments. Combine our real-time updates with historical context to track the company's progress in solving complex manufacturing challenges across diverse industries.
Mayville Engineering Company (NYSE: MEC), a leading value-added provider of design, prototyping and manufacturing solutions, has scheduled its first quarter 2025 earnings release for Tuesday, May 6, 2025, after market close.
The company will host a conference call and webcast on Wednesday, May 7, 2025, at 10:00 a.m. ET to discuss financial results and recent events, followed by a Q&A session. Investors can access the webcast and presentation materials through MEC's investor relations website at ir.mecinc.com.
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.
