Mayville Engineering: Q1 Earnings Snapshot
MAYVILLE, Wis. (AP) _ Mayville Engineering Company, Inc. (MEC) on Tuesday reported first-quarter earnings of $2.5 million.
On a per-share basis, the Mayville, Wisconsin-based company said it had net income of 12 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The company posted revenue of $112.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $107.2 million.
Mayville Engineering expects full-year revenue in the range of $450 million to $470 million.
Mayville Engineering shares have climbed 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.22, more than tripling in the last 12 months.