Earnings Call Summary | Mayville Engineering(MEC.US) Q4 2023 Earnings Conference
Earnings Call Summary | Mayville Engineering(MEC.US) Q4 2023 Earnings Conference
The following is a summary of the Mayville Engineering Company, Inc. (MEC) Q4 2023 Earnings Call Transcript:
以下是梅維爾工程公司（MEC）2023年第四季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
In Q4, MEC reported year-over-year organic revenue growth, increased profitability, and record free cash flow generation with a noteworthy $19.9 million.
It achieved a reduction in net debt to a ratio of 2.1x to the trailing 12 months adjusted EBITDA, on track for a further decrease to between 1.5x and 2x by 2024.
The company demonstrated a commitment to shareholder returns via $2 million open market share repurchases.
The 2024 financial guidance issued includes net sales of $620 million to $640 million, adjusted EBITDA of $72 million to $76 million, and free cash flow of $35 million to $45 million.
Ambitious 2026 targets have been set, including revenue of $750 million to $850 million, adjusted EBITDA margins of 14% to 16%, and free cash flow of $65 million to $75 million.
在第四季度，MEC報告了同比有機收入增長，盈利能力提高和創紀錄的自由現金流產量，達到驚人的1,990萬美元。
它實現了淨負債降至過去12個月調整後息稅折舊攤銷前利潤的2.1倍，有望在2024年進一步下降至1.5倍至2倍之間。
該公司通過200萬美元的公開市場股票回購表現出對股東回報的承諾。
發佈的2024年財務指引包括6.2億美元至6.4億美元的淨銷售額，調整後的息稅折舊攤銷前利潤爲7200萬美元至7,600萬美元，自由現金流爲3500萬至4,500萬美元。
雄心勃勃的2026年目標已經設定，包括收入7.5億美元至8.5億美元，調整後的息稅折舊攤銷前利潤率爲14％至16％，自由現金流爲6,500萬美元至7,500萬美元。
Business Progress:
業務進展：
Strategic moves by MEC include expansion into higher-value markets, improved operational discipline, and investment in high-return capital-light advancements, including automation and robotics.
The company foresees new project launches and market share gains offsetting the anticipated demand headwinds in key end markets throughout 2024.
There are plans for the Hazel Park facility to achieve $100 million in annual sales by 2024, intending a 100 to 150 basis point rise in margin improvement by 2026.
MEC plans to utilize the expected $35 to $45 million in free cash flow in 2024 for debt reduction and opportunistic share repurchases.
In the future, the company envisions further growth through M&A, targeting high-growth adjacent end markets as they reach their net leverage goals.
There is a strong backlog for Q1 of 2024, with adequate prospects for Q2, although a slight decline is predicted toward the second half of the year.
MEC的戰略舉措包括向更高價值的市場擴張、改善運營紀律以及投資於高回報率的輕資本進步，包括自動化和機器人技術。
該公司預計，新項目的啓動和市場份額的增加將抵消2024年主要終端市場的預期需求阻力。
哈澤爾公園工廠計劃到2024年實現1億美元的年銷售額，並打算到2026年將利潤率提高100至150個點子。
MEC計劃在2024年將預期的3500萬至4,500萬美元的自由現金流用於債務減免和機會性股票回購。
未來，該公司設想通過併購實現進一步增長，在實現淨槓桿率目標時瞄準高增長的鄰近終端市場。
儘管預計下半年會略有下降，但2024年第一季度的積壓量很大，第二季度的前景充足。
More details: Mayville Engineering IR
更多詳情： 梅維爾工程紅外線
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：欲了解更多詳情，請訪問投資者關係網站。本文僅供投資者參考，不構成任何投資建議。
譯文內容由第三人軟體翻譯。