Mayville Engineering Company Inc. (MEC) Tops Q1 EPS by 3c, Beats on Revenue; Offers FY24 Revenue Guidance

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Mayville Engineering Company Announces First Quarter 2024 Results

May 7, 2024 4:15 PM EDT

MILWAUKEE--(BUSINESS WIRE)-- Mayville Engineering Company (NYSE: MEC) (the Company or MEC), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced results for the three-months ended March 31, 2024.

FIRST QUARTER 2024 RESULTS
(All comparisons versus the prior-year period)

Net sales of $161.3 million, or +13.1% y/y, including organic growth of 3.3% y/y Net income of $3.2 million, or $0.16 per diluted share, an increase of 26% y/y, or $0.04 per diluted share Non-GAAP Adjusted Diluted EPS of $0.22, an increase of $0.05... More