Mayville Engineering Company Inc
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
MEC$14.11+7.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
(in thousands, except share amounts)
| | | | | | | |
|---|---|---|---|---|---|---|
| · September 30, · December 31, | ||||||
| · · 2024 · · 2023 | ||||||
| ASSETS · · · · | ||||||
| Cash and cash equivalents | | $178 | | $672 | ||
| Receivables, net of allowances for doubtful accounts of $430 at September 30, 2024and $685 at December 31, 2023 | | 54,345 | | 57,445 | ||
| Inventories, net | | 61,173 | | 67,782 | ||
| Tooling in progress | | 5,626 | | 5,457 | ||
| Prepaid expenses and other current assets | | 4,932 | | 3,267 | ||
| Total current assets | | 126,254 | | 134,623 | ||
| Property, plant and equipment, net | | 163,713 | | 175,745 | ||
| Goodwill | | 92,650 | | 92,650 | ||
| Intangible assets, net | | 53,467 | | 58,667 | ||
| Operating lease assets | | | 28,536 | | | 32,233 |
| Other long-term assets | | 1,382 | | 2,743 | ||
| Total assets | | $466,002 | | $496,661 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | ||||
| Accounts payable | | $47,990 | | $46,526 | ||
| Current portion of operating lease obligation | | | 4,646 | | | 5,064 |
| Accrued liabilities: | | | | | ||
| Salaries, wages, and payroll taxes | | 6,042 | | 6,368 | ||
| Profit sharing and bonus | | 3,182 | | 3,107 | ||
| Other current liabilities | | 9,517 | | 10,644 | ||
| Total current liabilities | | 71,377 | | 71,709 | ||
| Bank revolving credit notes | | 111,045 | | 147,493 | ||
| Operating lease obligation, less current maturities | | | 25,570 | | | 28,606 |
| Deferred compensation, less current portion | | 4,603 | | 3,816 | ||
| Deferred income tax liability | | 12,847 | | 12,606 | ||
| Other long-term liabilities | | 2,204 | | 2,453 | ||
| Total liabilities | | $227,646 | | $266,683 | ||
| Commitments and contingencies (see Note 9) | | | ||||
| Common shares, no par value, 75,000,000 authorized, 22,302,151 shares issued atSeptember 30, 2024 and 21,853,477 at December 31, 2023 | | — | | — | ||
| Additional paid-in-capital | | 205,750 | | 205,373 | ||
| Retained earnings | | 44,115 | | 34,118 | ||
| Treasury shares at cost, 1,657,818 shares at September 30, 2024 and 1,542,893 at December 31, 2023 | | (11,509) | | (9,513) | ||
| Total shareholders’ equity | | 238,356 | | 229,978 | ||
| Total liabilities and shareholders' equity | | $466,002 | | $496,661 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.