Mayville Engineering Company, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 04:15 pm EDT
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Mayville Engineering Company, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 158.22 million compared to USD 136.28 million a year ago. Net income was USD 1.43 million compared to USD 6.6 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to USD 0.32 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to USD 0.32 a year ago.
For the nine months, sales was USD 439.84 million compared to USD 410.87 million a year ago. Net income was USD 5.62 million compared to USD 16.35 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.8 a year ago. Diluted earnings per share from continuing operations was USD 0.27 compared to USD 0.8 a year ago.
Mayville Engineering Company, Inc. is a vertically integrated, value-added manufacturing partner providing a full suite of manufacturing solutions from concept to production, including design, prototyping and tooling, fabrication, aluminum extrusion, coating, assembly and aftermarket components. Its customers operate in diverse end markets, such as heavy-and medium-duty commercial vehicles, construction and access equipment, powersports, agriculture, military and other end markets. Its capabilities include metal fabrication, metal stamping, aluminum extrusion and fabrication, tube bending and forming, robotic part forming, robotic welding, resistance welding, five-axis tube and fiber laser cutting and custom coatings, including high heat and chemical agent resistant coating painting, are used in a variety of applications. It serves its customers through 23 strategically located United States facilities, across seven states, with over three million square feet of manufacturing capacity.
MAYVILLE ENGINEERING COMPANY, INC. 
