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

Mayville Engineering

07/08/2024 04:55

* Mayville Engineering Company Inc  MEC.N  reported
quarterly
adjusted earnings of 26 cents​​ per share for the quarter ended
in June, higher than the same quarter last year, when the
company reported EPS of 8 cents.  The mean expectation of
four analysts for the quarter was for earnings of 19 cents per
share. Wall Street expected results to range from 16 cents to 23
cents per share.
    * Revenue rose 17.7% to $163.64 million from a year ago;
analysts
expected $159.12 million. 
    * Mayville Engineering Company Inc's reported EPS for the
quarter
was 18 cents​.
    * The company reported quarterly net income of $3.78
million.
    * Mayville Engineering Company Inc shares had risen by 0.2%
this
quarter and gained 15.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.6%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

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 $21.50 
This summary was machine generated from LSEG data August 7 at
03:55 a.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
 Jan. 1 0001       0.19           0.26           Beat
 Mar. 31 2024      0.18           0.16           Missed
 Dec. 31 2023      0.13           0.11           Missed
 Sep. 30 2023      0.22           0.10           Missed