Mayville Engineering reports Q1 EPS 4c, consensus 2c

Reports Q1 revenue $135.6M, consensus $134.52M. The company said, “Our strong first quarter results were driven by the team’s execution and operational discipline. We delivered 12% sequential sales growth, margin expansion and positive free cash flow, despite softer customer demand amid continued inventory de-stocking. Our focus and commitment to continuous improvement and cost discipline contributed to 140 basis-points in Adjusted EBITDA margin improvement sequentially and positions us to realize increased operating leverage as customer demand improves. While near-term economic conditions remain uncertain, we believe that MEC is well positioned to benefit from evolving U.S. trade policy and the continued acceleration of onshoring of manufacturing.”