Earnings Call Summary | Mayville Engineering(MEC.US) Q1 2024 Earnings Conference
Earnings Call Summary | Mayville Engineering(MEC.US) Q1 2024 Earnings Conference
The following is a summary of the Mayville Engineering Company, Inc. (MEC) Q1 2024 Earnings Call Transcript:
以下是梅维尔工程公司（MEC）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Mayville Engineering reported a strong Q1 performance with net sales growth, increased adjusted EBITDA, and positive free cash flow.
The company demonstrated a Q1 sales increase of 13.1% to $161.3 million.
Manufacturing margin was $20.9 million, and adjusted EBITDA increased to $18.5 million.
For 2024, the company projects full-year net sales growth of 5%-9% and growth in total free cash flow of approximately $11 million to $21 million.
Revenue for the quarter was $124.2 million, up 2% year-over-year, supplemented by strong performance in Powersports and commercial lawn and turf markets.
The company reported earnings per share of $0.05, indicating a substantial turnaround from the loss per share of $0.01 in the same quarter last year.
Mayville Engineering报告称，第一季度业绩强劲，净销售额增长，调整后息税折旧摊销前利润增加，自由现金流为正。
该公司第一季度销售额增长了13.1％，达到1.613亿美元。
制造业利润率为2,090万美元，调整后的息税折旧摊销前利润增至1,850万美元。
该公司预计，2024年的全年净销售额将增长5％-9％，自由现金流总额将增长约1100万美元至2100万美元。
该季度的收入为1.242亿美元，同比增长2％，这得益于机动车和商用草坪和草坪市场的强劲表现。
该公司公布的每股收益为0.05美元，这表明与去年同期每股亏损0.01美元相比有了重大转机。
Business Progress:
业务进展：
The company experienced significant success with its MBX framework and reported substantial new Q1 contract wins.
Intends to further advance commercial reach and operational productivity, including an accentuated focus on sourcing optimization and labor utilization.
Achieved full integration of Mid-States Aluminum into the MEC platform, contributing to year-over-year top-line growth in Q1.
Strategic M&A remains a critical aspect of the company's multi-year growth strategy, along with debt reduction and potential share repurchases under an existing $25 million authorization.
Plans to make high-return investments in automation, expecting to improve productivity and expand capacity.
Anticipates the Hazel Park plant generating a revenue of $100 million by 2025, facilitated by the deployment of flexible cobots.
Maintains a strong focus on debt reduction and free cash flow generation for 2024, as well as continuous efforts for inventory reduction.
该公司在其 MBX 框架方面取得了巨大成功，并报告了第一季度获得的大量新合同。
旨在进一步提高商业覆盖面和运营生产力，包括重点关注采购优化和劳动力利用。
实现了中州铝业的全面整合到MEC平台中，为第一季度营收同比增长做出了贡献。
战略并购仍然是公司多年增长战略的关键方面，根据现有的2500万美元授权，还有债务减免和潜在的股票回购。
计划对自动化进行高回报投资，预计将提高生产率和扩大产能。
预计，在部署灵活协作机器人的推动下，到2025年，Hazel Park工厂将创造1亿美元的收入。
继续将重点放在2024年的债务减免和自由现金流上，并持续努力减少库存。
More details: Mayville Engineering IR
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