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Mayville Engineering Company Inc - MEC STOCK NEWS

Welcome to our dedicated news page for Mayville Engineering Company (Ticker: MEC), a resource for investors and traders seeking the latest updates and insights on Mayville Engineering Company.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Mayville Engineering Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Mayville Engineering Company's position in the market.

Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.93%
Tags
earnings
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.09%
Tags
earnings
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.7%
Tags
conferences
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.73%
Tags
earnings
-
Rhea-AI Summary
Mayville Engineering Company to release third quarter 2023 results and hold conference call
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.62%
Tags
earnings
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Rhea-AI Summary
Mayville Engineering Company (MEC) will host an Investor Day to provide a progress update on its value creation framework and introduce new three-year performance targets. MEC aims for net sales growth of $170 to $240 million between 2023 and 2026, 14% to 16% Adjusted EBITDA margin expansion, and approximately $200 million in free cash flow generation. They also reiterate their full-year 2023 financial guidance and introduce full-year 2026 financial targets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.27%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.55%
Tags
earnings
-
Rhea-AI Summary
Mayville Engineering Company, Inc. (NYSE: MEC) will host an Investor Day on September 14, 2023, at its Hazel Park, Michigan facility. The event will provide updates on the company's long-term strategy, markets, operations, and growth opportunities. Both in-person and virtual attendees must register at https://app.webinar.net/P7MnEVo9kxV. A live webcast and accompanying materials will be available on the Investor Relations section of the MEC corporate website at https://ir.mecinc.com.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.54%
Tags
conferences
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.17%
Tags
earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.77%
Tags
acquisition
Mayville Engineering Company Inc

NYSE:MEC

MEC Rankings

MEC Stock Data

287.15M
11.90M
4.24%
66.25%
1.42%
Dimension Stone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
Link
United States
Milwaukee

About MEC

we are more than just a manufacturing and fabricating company. award-winning and employee-owned, we pride ourselves in being a leader in the industry. description we have more than a 60-year history of serving customers all over the world in the military, agriculture, commercial vehicle, construction, recreational vehicle, medical and communications industries. no matter what your needs are, we can exceed them with specialties in: · prototyping · contract production · metal fabrication · mechanical + electro-mechanical assembly, validation and testing · coating, assembly and logistical solutions · tube bending & forming · fuel level indicators · laser cutting · welding · and more