NYSE$MEC
Mayville Engineering Company Inc · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
MEC's financial performance was impacted by customer shutdowns and pandemic-related demand shifts, resulting in a net loss, but the company focused on cost structure improvements.
Mayville Engineering Company (MEC) reported net sales of $62.6 million and a net loss of $7.0 million for the second quarter ended June 30, 2020. The company's performance was affected by COVID-19 related customer shutdowns and destocking activities. However, MEC focused on cost structure improvements and is actively pursuing new revenue opportunities.
- Net sales reached $62.6 million.
- Net loss was $7.0 million, with Adjusted EBITDA at $2.3 million.
- Credit agreement was amended to enhance liquidity and flexibility.
- Performance profile improved through facility and process optimization.
Headline financials
Revenue & EPS history
MEC · Revenue · Quarterly
$62.6M
Revenue by segment
MEC · $158M total across 6 segments · Q3 2023
- Commercial Vehicle$57.3M—36.2%
- Construction & Access$26.3M—16.6%
- Powersports$25.1M—15.9%
- Other$23.5M—14.9%
- Agriculture$15M—9.5%
- Military$11M—6.9%
Forward guidance
Due to the ongoing uncertainty of the pandemic and related economic and social impact, the Company is not in a position to provide a financial outlook at this time.
Tailwinds
- Second quarter is believed to be the low point for the year based on extended shutdowns and continued de-stocking from many customers.
- Expect to see a stabilization and then gradual improvement in business conditions during the second half of the year.
- Focused on factors within our control, effectively improving our performance profile and providing exceptional value for our customers.
- Strong financial standing and market leading position means we are well placed to manage through the pandemic and related economic disruption.
- Exploring a wide range of opportunities with both new and existing customers, and see potential for project expansion, takeover business and new prospects in a variety of end markets
Headwinds
- Ongoing uncertainty of the pandemic and related economic and social impact.
- Not in a position to provide a financial outlook at this time.
- Assuming we don’t see additional extended shutdowns at our customers facilities.
- Assuming that the economic situation does not deteriorate significantly.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2020
-1.3%
Avg return
Earnings day
+3.1%
Avg return
5 days after
+5.6%
Avg return
30 days after
39%
11 / 28 earnings
Positive
+17.6%
Q3 2022
Best reaction
-37.7%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.6% | +19.6% | +45.9% | |
| Q4 2025 | -1.8% | -10.8% | -13.7% | |
| Q3 2025 | -10.4% | -6.3% | -8.3% | |
| Q1 2025 | -3.8% | +11.7% | +13.7% | |
| Q4 2024 | -0.1% | +8.2% | -8.8% | |
| Q3 2024 | -16.3% | -18.1% | -19.7% | |
| Q2 2024 | +10.9% | +13.0% | +11.3% | |
| Q1 2024 | +7.4% | +16.2% | +16.1% | |
| Q4 2023 | +6.8% | +3.6% | +6.9% | |
| Q3 2023 | +3.6% | +6.9% | +11.9% | |
| Q2 2023 | -7.9% | +0.2% | -2.9% | |
| Q1 2023 | -5.9% | -17.5% | -2.3% | |
| Q4 2022 | -4.0% | -4.7% | -8.4% | |
| Q3 2022 | +17.6% | +45.1% | +99.2% | |
| Q2 2022 | -0.8% | -3.4% | -3.9% | |
| Q1 2022 | +8.2% | -1.2% | +9.6% | |
| Q4 2021 | -5.7% | -2.0% | -9.4% | |
| Q3 2021 | -4.8% | -4.8% | -18.8% | |
| Q2 2021 | -2.4% | -1.3% | -16.8% | |
| Q1 2021 | -5.7% | +8.2% | +18.6% | |
| Q4 2020 | +1.4% | +6.3% | +3.2% | |
| Q3 2020 | +14.3% | +15.6% | +24.6% | |
| Q2 2020 | -1.5% | +6.4% | +14.0% | |
| Q1 2020 | +8.3% | +30.4% | +34.5% | |
| Q4 2019 | -6.2% | +2.0% | -15.4% | |
| Q3 2019 | -37.7% | -19.9% | -26.8% | |
| Q2 2019 | -5.8% | -11.3% | +1.9% | |
| Q1 2019 | +3.3% | -5.7% | +0.4% | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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