Mayville Engineering Company Announces Fourth Quarter and Full-Year 2023 Results
Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced results for the three and twelve-months ended December 31, 2023.
- Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced results for the three and twelve-months ended December 31, 2023.
- Excluding the impact of the MSA acquisition, net sales increased organically by 6.1% year-over-year in the fourth quarter 2023.
- Profit sharing, bonus and deferred compensation expense decreased $0.5 million to $3.6 million in the fourth quarter of 2023.
- Free cash flow during the fourth quarter 2023 was $19.9 million as compared to ($0.7) million in the prior year period.