Mayville Engineering Company Inc reports results for the quarter ended in December - Earnings Summary

Mayville Engineering

05/03/2024 23:40

* Mayville Engineering Company Inc  MEC.N  reported
quarterly
adjusted earnings of 11 cents​​ per share for the quarter ended
in December, lower than the same quarter last year, when the
company reported EPS of 12 cents.  The mean expectation of
five analysts for the quarter was for earnings of 13 cents per
share. Wall Street expected results to range from 8 cents to 18
cents per share.
    * Revenue rose 15.6% to $148.58 million from a year ago;
analysts
expected $152.31 million. 
    * Mayville Engineering Company Inc's reported EPS for the
quarter
was 11 cents​.
    * The company reported quarterly net income of $2.23
million.
    * Mayville Engineering Company Inc shares had fallen
by 12.8% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto, truck &
motorcycle parts peer group is also "buy"

Wall Street's median 12-month price target for Mayville
Engineering Company Inc is $18.00 
This summary was machine generated from LSEG data March 5 at
11:40 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.13           0.11           Missed
 Sep. 30 2023      0.22           0.10           Missed
 Jun. 30 2023      0.16           0.08           Missed
 Mar. 31 2023      0.19           0.12           Missed