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Mayville Engineering (MEC) Q3 Earnings and Revenues Lag Estimates
MECmec(MEC) ZACKS·2024-11-05 23:46

Company Performance - Mayville Engineering (MEC) reported quarterly earnings of 0.14pershare,missingtheZacksConsensusEstimateof0.14 per share, missing the Zacks Consensus Estimate of 0.19 per share, and down from 0.21pershareayearago,representinganearningssurpriseof−26.320.21 per share a year ago, representing an earnings surprise of -26.32% [1] - The company posted revenues of 135.39 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 13.88%, compared to year-ago revenues of 158.22million[2]−Overthelastfourquarters,MayvilleEngineeringhassurpassedconsensusEPSestimatesjustonceandtoppedconsensusrevenueestimatestwotimes[2]StockPerformance−MayvilleEngineeringshareshaveincreasedapproximately45.3158.22 million [2] - Over the last four quarters, Mayville Engineering has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Stock Performance - Mayville Engineering shares have increased approximately 45.3% since the beginning of the year, outperforming the S&P 500's gain of 19.8% [3] - The current consensus EPS estimate for the coming quarter is 0.16 on revenues of 147.43million,andforthecurrentfiscalyear,itis147.43 million, and for the current fiscal year, it is 0.68 on revenues of $629.55 million [7] Industry Outlook - The Engineering - R and D Services industry, to which Mayville Engineering belongs, is currently in the bottom 35% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]