Mayville Engineering Company Inc. (MEC) Tops Q1 EPS by 5c

Mayville Engineering Company Inc. (NYSE: MEC) reported Q1 EPS of $0.00, $0.05 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $108.6 million versus the consensus estimate of $101.52 million.

Outlook:

Based on the uncertainty of the overall economic outlook due to the COVID-19 pandemic, we are withdrawing guidance. At this time, our aim is to provide updated guidance as the economic outlook becomes clearer.

Kamphuis added, “Despite the near-term uncertainty, we remain confident in the strength of our business model and the opportunities ahead to grow the business over the long-term. Over the past 75 years, MEC has proven its ability to weather any economic storm by continually providing value to our customers and always meeting and exceeding their expectations. We are well positioned to successfully manage through the operational and financial impact of the COVID-19 pandemic, and plan to invest in the business to ensure we emerge from this period of uncertainty in an even stronger competitive position.”

For earnings history and earnings-related data on Mayville Engineering Company Inc. (MEC) click here.

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