Mayville Engineering Provides Three-Year Performance Targets, Sees FY26 Net Sales Of $750M-$850M, Adjusted EBITDA Of $105M-$135M; Reiterates FY23 Guidance
Portfolio Pulse from Benzinga Newsdesk
Mayville Engineering Company (MEC) has reiterated its full-year 2023 financial guidance and introduced its full-year 2026 financial targets. For 2023, the company expects net sales of $580M-$610M, adjusted EBITDA of $66M-$71M, and capital expenditures of $15M-$20M. For 2026, MEC projects net sales of $750M-$850M, adjusted EBITDA of $105M-$135M, an adjusted EBITDA margin of 14%-16%, and free cash flow of $65M-$75M.
September 14, 2023 | 10:46 am
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MEC has provided its financial guidance for FY23 and FY26. The company's projections for net sales and adjusted EBITDA show a positive growth trend, which could potentially boost investor confidence.
The company's reiteration of its FY23 guidance and introduction of FY26 targets indicate a positive outlook for its financial performance. This could potentially lead to increased investor confidence and a positive impact on the company's stock price in the short term.
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RELEVANCE 100