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MEC

Mayville Engineering

$8.74 /

-0.01 (-0.11%)

08:07
01/29/20
01/29
08:07
01/29/20
08:07

Mayville Engineering sees FY20 revenue $425M-$465M, consensus $495.42M

Sees FY20 adj. EBITDA $39M-$50M. "Despite the rapidly shifting market demand dynamics, our long-term business prospects remain strong and we are well positioned for success in our served markets given our customer focus, market leading position, and strong balance sheet," noted Robert D. Kamphuis, Chairman, President and CEO. "As we look at our projections for 2020, we see relative strength from new orders in the Power Sports and our Military markets being offset by declines in our Agriculture and Other markets. In addition, we expect the Construction and Commercial Vehicle markets will be significantly lower in 2020 when compared to 2019 results based on market demand dynamics." Kamphuis added, "While we were already expecting a significant reduction in our CV business, the pace and depth of the demand reductions has been greater than we originally predicted. The CV business is also the hardest to realign given the longer lead times necessary for higher volume more complex products and OEM schedules with more dedicated capacity. Outside of the CV market, our flexible and agile selling and production processes are being implemented as planned. We have and will continue to adjust our cost structure to align with market conditions, which is consistent with our historical practices."

MEC Mayville Engineering
$8.74 /

-0.01 (-0.11%)

10/29/19
Mayville Engineering reports Q3 EPS 49c, consensus 32c
06/14/19 William Blair
Mayville story unchanged despite share weakness, says William Blair
06/03/19 William Blair
Mayville Engineering initiated with an Outperform at William Blair
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