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Mayville Engineering Company, Inc. (MEC) is a distinguished, employee-owned organization with a rich history spanning over 60 years. Recognized for its excellence and leadership in the manufacturing and fabricating industry, MEC caters to a wide array of sectors including military, agriculture, commercial vehicles, construction, recreational vehicles, medical, and communications.
As a comprehensive manufacturing partner, MEC offers a versatile range of services. These include prototyping, contract production, metal fabrication, mechanical and electro-mechanical assembly, validation and testing, coating, logistical solutions, tube bending and forming, laser cutting, and welding. This broad suite of services allows MEC to meet and exceed the diverse needs of its customers across various end markets.
MEC's latest initiatives and projects demonstrate its commitment to innovation and customer satisfaction. The company has recently expanded its capabilities in fiber laser cutting, stamping, shearing, forming, drilling, tapping, grinding, and machining. Moreover, MEC's services extend to thorough assembly and efficient logistic services, ensuring a seamless supply chain for their clients.
The company's financial health remains robust, underpinned by strategic partnerships and a solid customer base. MEC's dedication to quality and precision is reflected in its state-of-the-art facilities and advanced manufacturing technologies. This commitment has earned the company numerous awards and a reputation for reliability and excellence in the industry.
With a focus on continuous improvement and technological advancement, Mayville Engineering Company, Inc. remains a pivotal player in the manufacturing sector, consistently delivering high-value solutions to its global clientele.
Mayville Engineering Company (NYSE: MEC) announced it will release its first quarter 2023 results on May 2, 2023, after market hours. A conference call to discuss the financial outcomes will occur the following day, May 3, 2023, at 10:00 a.m. ET. A live webcast will be available on the Company's Investor Relations site. Participants can join the teleconference using specific codes provided for both the United States and Canada. The replay will be available until May 17, 2023.
MEC, established in 1945, is a provider of design, prototyping, and manufacturing services across various markets, including commercial vehicles and military applications, with operations in 20 facilities across seven states.
Mayville Engineering Company (NYSE: MEC) announced the appointment of Rachele Lehr as the Chief Human Resources Officer, effective March 13, 2023. Lehr will oversee the company’s HR strategy, focusing on talent acquisition, development, and engagement. With a decade of experience in the manufacturing sector, her previous role was Senior VP at Briggs & Stratton. CEO Jag Reddy emphasized that her expertise will enhance talent management and drive business transformation. MEC, established in 1945, provides value-added manufacturing services across diverse markets, bolstered by 20 facilities in seven states.
Mayville Engineering Company (NYSE: MEC) reported its financial results for Q4 and FY 2022, highlighting net sales of $128.5 million in Q4, a 13.8% increase year-over-year, and $539.4 million for the full year, marking an 18.6% growth. The company achieved net income of $2.4 million in Q4 and $18.7 million for FY, with diluted earnings per share at $0.12 and $0.91, respectively. Adjusted EBITDA for Q4 was $11.6 million, up 26.2% year-over-year. For 2023, MEC projects net sales between $540 million and $580 million and adjusted EBITDA of $62 million to $71 million.
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