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) 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.
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.
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