Mayville Engineering Q2 Adj EPS $0.20 Beats $0.16 Estimate, Sales $138.98M Miss $143.28M Estimate
Portfolio Pulse from vinayak@benzinga.com
Mayville Engineering (NYSE:MEC) reported Q2 earnings of $0.20 per share, beating the analyst consensus estimate of $0.16 by 25%. However, this is a 31.03% decrease from the same period last year. The company's quarterly sales of $138.98 million missed the analyst consensus estimate of $143.28 million by 3.00%, but it's a 0.46% increase from the same period last year.
August 04, 2023 | 10:30 am
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Mayville Engineering's Q2 earnings beat estimates but sales missed. Earnings are down 31.03% from last year, while sales are up 0.46%.
Mayville Engineering's earnings beat estimates, which is a positive signal for investors. However, the decrease in earnings from the same period last year and the missed sales estimates could negatively impact the stock price. The net effect is likely to be neutral in the short term.
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