Stock Story -
Vertically integrated manufacturing solutions provider Mayville Engineering Company (NYSE:MEC)
will be announcing earnings results tomorrow afternoon. Here's what investors should know.
Mayville Engineering met analysts' revenue expectations last quarter, reporting revenues of $161.3 million, up 13.1% year on year. It was a decent quarter for the company, with an impressive beat of analysts' earnings estimates but underwhelming EBITDA guidance for the full year.
Is Mayville Engineering a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Mayville Engineering's revenue to grow 14.5% year on year to $159.1 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mayville Engineering has missed Wall Street's revenue estimates three times over the last two years.
Looking at Mayville Engineering's peers in the engineered components and systems segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Arrow Electronics's revenues decreased 19% year on year, beating analysts' expectations by 5.7%, and Regal Rexnord reported a revenue decline of 12.5%, topping estimates by 2.7%. Arrow Electronics traded up 1.7% following the results while Regal Rexnord was also up 1.4%.
Read the full analysis of Arrow Electronics's and Regal Rexnord's results on StockStory.
There has been positive sentiment among investors in the engineered components and systems segment, with share prices up 2.8% on average over the last month. Mayville Engineering is up 6.5% during the same time and is heading into earnings with an average analyst price target of $22.5 (compared to the current share price of $17.56).
![Earnings To Watch: Mayville Engineering (MEC) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/pic599d2f9fb032c37c4a085f241b89961d.jpeg)