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

Mayville Engineering

31/10/2023 21:03

* Mayville Engineering Company Inc  MEC.N  reported
quarterly
adjusted earnings of 10 cents​​ per share for the quarter ended
in September, lower than the same quarter last year, when the
company reported EPS of 32 cents.The mean expectation of
five analysts for the quarter was for earnings of 22 cents per
share. Wall Street expected results to range from 14 cents to 26
cents per share.
    * Revenue rose 16.1% to $158.22 million from a year ago;
analysts
expected $159.92 million. 
    * Mayville Engineering Company Inc's reported EPS for the
quarter
was 7 cents​.
    * The company reported quarterly net income of $1.43
million.
    * Mayville Engineering Company Inc shares had risen by 3.5%
this
quarter and lost 10.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 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." 
    * Wall Street's median 12-month price target for Mayville
Engineering Company Inc is $18.50 

This summary was machine generated from LSEG data October 31 at
09:02 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 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
 Dec. 31 2022      0.13           0.12           Missed