Mayville Engineering - MEC STOCK NEWS

Mayville Engineering Company (NYSE: MEC) has been recognized as the largest fabricator in the U.S. by Fabricator Magazine for the fourteenth consecutive year. MEC's President & CEO Jag Reddy attributed this accolade to the company's emphasis on innovation, operational excellence, and strong customer collaboration. Reddy highlighted MEC's Business Excellence (MBX) journey and its strategic focus on high-growth adjacent markets and lightweight materials fabrication. Ryan Raber, EVP of Strategy, Sales, & Marketing, noted the company's progress toward its 2026 financial goals, emphasizing the impact of recent strategic investments on profitability and competitive differentiation. Raber underscored MEC's commitment to next-generation automation, quality assurance, and comprehensive manufacturing expertise, aiming to ensure long-term value for customers and shareholders.

Mayville Engineering Company (NYSE: MEC) announced that its President and CEO, Jag Reddy, and CFO, Todd Butz, will participate in key investor conferences in June 2024.

They will attend the Stifel Cross Sector Insight Conference on June 4th in Boston, the William Blair 44th Annual Growth Stock Conference on June 5th in Chicago, and the Northland Growth Conference on June 25th virtually.

During these events, MEC's management will be available for one-on-one meetings with registered investors.

Mayville Engineering Company (NYSE: MEC) will ring the NYSE closing bell on May 14, 2024, celebrating its five-year anniversary as a public company. This event precedes MEC's 80th anniversary next year. As a leading provider of design, prototyping, and manufacturing solutions, MEC has achieved significant growth and market leadership. President and CEO Jag Reddy attributed the company's success to the collective efforts of employees, customers, partners, and investors. The event will be broadcasted live on the NYSE website.

Mayville Engineering Company (NYSE: MEC) reported strong first quarter 2024 results with net sales of $161.3 million (+13.1% y/y), net income of $3.2 million (+26% y/y), Non-GAAP Adjusted Diluted EPS of $0.22 (+$0.05 y/y), and Adjusted EBITDA of $18.5 million (+33.8% y/y). The company showcased solid execution on strategic priorities, generating double-digit sales growth, sustained margin expansion, and robust free cash flow. Despite mixed near-term demand outlook, MEC remains well-positioned for growth and aims to achieve 14%-16% Adjusted EBITDA margin by 2026.

Mayville Engineering Company (NYSE: MEC) announces the first quarter 2024 results conference call and webcast date for May 8, 2024. The company will issue results on May 7, 2024, after the market closes. The conference call will discuss financial results, recent events, and include a Q&A session. A webcast and presentation materials will be available on the Investor Relations section of the company's website. To participate, visit the site early to register and download necessary software. Replay options will also be available.

Mayville Engineering Company (MEC) reported strong financial results for the fourth quarter and full-year 2023, showcasing growth in net sales, net income, and adjusted EBITDA. The company also provided optimistic financial guidance for 2024, expecting continued growth and profitability. Management highlighted strategic initiatives to drive operational and commercial excellence, expansion into high-growth markets, and human resource optimization.

Mayville Engineering Company (MEC) will release its Q4 and full year 2023 results on March 5, 2024, followed by a conference call on March 6, 2024, to discuss financial performance and recent events. Investors can access the webcast and presentation materials on the company's Investor Relations website.

Mayville Engineering Company (NYSE: MEC) announced that its President and CEO, Jag Reddy, and CFO, Todd Butz, will participate in the Baird 2023 Global Industrial Conference on November 9, 2023. MEC executives will be available for one-on-one meetings with registered investors.

Mayville Engineering Company (NYSE: MEC) announced its Q3 2023 results, reporting net sales of $158.2 million, a 16.1% YoY increase, and net income of $1.4 million, or $0.07 per diluted share. Adjusted EBITDA was $19.2 million, with an Adjusted EBITDA margin of 12.1%. The company also achieved record quarterly Free Cash Flow of $16.1 million. MEC's management commented on the strong performance and introduced three-year performance targets that aim to deliver between $105 to $135 million of annual Adjusted EBITDA and $65 to $75 million of annual free cash flow generation by year-end 2026. Debt reduction and share repurchase are the company's top near-term priorities.