Mayville Engineering (MEC) Q3 Earnings and Revenues Lag Estimates

Company Performance - Mayville Engineering (MEC) reported quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of $0.19 per share, and down from $0.21 per share a year ago, representing an earnings surprise of -26.32% [1] - The company posted revenues of $135.39 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 13.88%, compared to year-ago revenues of $158.22 million [2] - Over the last four quarters, Mayville Engineering has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Stock Performance - Mayville Engineering shares have increased approximately 45.3% since the beginning of the year, outperforming the S&P 500's gain of 19.8% [3] - The current consensus EPS estimate for the coming quarter is $0.16 on revenues of $147.43 million, and for the current fiscal year, it is $0.68 on revenues of $629.55 million [7] Industry Outlook - The Engineering - R and D Services industry, to which Mayville Engineering belongs, is currently in the bottom 35% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]