Mayville Engineering: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Mayville Engineering (NYSE:MEC) reported Q4 earnings with an EPS of $0.21, beating estimates by 62.0% against an expected $0.13. Revenue increased by $20.05 million from the same period last year. In the previous quarter, MEC missed EPS estimates by $0.01, leading to a 3.0% share price drop the following day.
March 05, 2024 | 9:45 pm
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Mayville Engineering reported a significant beat on Q4 earnings estimates with an EPS of $0.21, surpassing the expected $0.13, and a notable year-over-year revenue increase.
The substantial beat on earnings estimates and the significant increase in revenue compared to the same period last year are likely to positively impact investor sentiment and MEC's stock price in the short term. Historically, the stock reacted negatively to an earnings miss last quarter, but this strong performance could reverse that trend.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100