Mayville Engineering Company Inc reports results for the quarter ended in September 30 - Earnings Summary

Mayville Engineering

06/11/2024 04:40

* Mayville Engineering Company Inc  MEC.N  reported
quarterly
adjusted earnings of 14 cents​​ per share for the quarter ended
September 30, higher than the same quarter last year, when the
company reported EPS of 10 cents.  The mean expectation of
four analysts for the quarter was for earnings of 21 cents per
share. Wall Street expected results to range from 15 cents to 25
cents per share.
    * Revenue fell 14.4% to $135.39 million from a year ago;
analysts
expected $157.61 million. 
    * Mayville Engineering Company Inc's reported EPS for the
quarter
was 14 cents​.
    * The company reported quarterly net income of $2.97
million.
    * Mayville Engineering Company Inc shares had fallen by 0.6%
this
quarter and gained 45.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 10.4%
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 3 "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 $27.00 
This summary was machine generated from LSEG data November 6 at
04:40 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
 Sep. 30 2024      0.21           0.14           Missed
 Jun. 30 2024      0.19           0.18           Missed
 Mar. 31 2024      0.18           0.16           Missed
 Dec. 31 2023      0.13           0.11           Missed