Latest news with #MayvilleEngineering
Yahoo
27-05-2025
- Business
- Yahoo
Powell, Mayville Engineering, Graham Corporation, Hyster-Yale Materials Handling, and 10x Genomics Shares Skyrocket, What You Need To Know
A number of stocks jumped in the morning session after the major indices rebounded (Nasdaq +2.0%, S&P 500 +1.5%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025. Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Electrical Systems company Powell (NASDAQ:POWL) jumped 5.1%. Is now the time to buy Powell? Access our full analysis report here, it's free. Engineered Components and Systems company Mayville Engineering (NYSE:MEC) jumped 5.8%. Is now the time to buy Mayville Engineering? Access our full analysis report here, it's free. Engineered Components and Systems company Graham Corporation (NYSE:GHM) jumped 7.3%. Is now the time to buy Graham Corporation? Access our full analysis report here, it's free. Professional Tools and Equipment company Hyster-Yale Materials Handling (NYSE:HY) jumped 6.1%. Is now the time to buy Hyster-Yale Materials Handling? Access our full analysis report here, it's free. Genomics & Sequencing company 10x Genomics (NASDAQ:TXG) jumped 5.6%. Is now the time to buy 10x Genomics? Access our full analysis report here, it's free. Graham Corporation's shares are very volatile and have had 23 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock dropped 22.2% on the news that the company reported underwhelming fourth quarter 2024 results: its revenue missed and its full-year revenue guidance fell slightly short of Wall Street's estimates. Orders fell significantly, reflecting the lumpiness of large capital projects, particularly in defense, which could impact near-term revenue growth. Backlog, another leading growth indicator, declined sequentially and relative to the previous year, suggesting the near-term sales momentum might be weaker. Despite these challenges, Graham Corporation beat analysts' EBITDA and EPS expectations this quarter, partially offsetting the otherwise underwhelming results. Graham Corporation is down 9.7% since the beginning of the year, and at $39.85 per share, it is trading 19.9% below its 52-week high of $49.72 from February 2025. Investors who bought $1,000 worth of Graham Corporation's shares 5 years ago would now be looking at an investment worth $3,400. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Climate
- Yahoo
‘Overwhelming looking at the mess': Mayville community working through aftermath of tornado
MAYVILLE, Wis. (WFRV) – With even more high winds and rain following Thursday evening's tornado, Mayville community members are working around the clock to get things back into place, or working order, as best they can. 'It's overwhelming looking at the mess,' Mayville Engineering Company employee Brad Lagerman said, who has worked on the maintenance team for 35 years. 'It's a lot, we have a full crew in here and they were really good at getting the crew needed here to get all of this work done.' An entire wall of the engineering company is gone, just a pile of rubble remains. A giant air conditioning unit also was stripped from the roof, tearing a large hole, before being smashed into the ground. Crews worked on the roof and the side of the building throughout Friday, working to get some patching in place and also to quickly restore power. Power had been restored to Mayville earlier on Friday, but individual homes or businesses that had their lines snapped may still be waiting. How long will it take MEC to return to normal? And when you lose an entire wall, what does 'normal' even look like? 'I'm not sure. Hoping maybe we can run on Monday,' Lagerman said, although the repairs will take weeks to complete. Employees are hopeful to begin distributing product again as soon as possible. And just across Clark St., the Gleason Reel building might even be worse off, with an entire corner, wall and roof, demolished. Heavy cinder blocks fell and cracked onto parked cars below, leaving them warped with dents and smashed windshields. The City of Mayville administration is asking those interested in volunteering during the cleanup to contact city hall in order to be added to a volunteer list. Mayville High School did not have class, and is instead being used by the Red Cross to provide shelter and relief efforts. Students from neighboring Lomira High School did have class, but some left early to help with the cleanup. 'I was in school but I couldn't just sit around,' Keagen Fleischer said. 'It's just not the kind of person I am.' 'I'm here cleaning up, because when I'm older and have something like this happen I'd love to have some kids out here helping,' Logan Keacker said. Utility crews, company employees, students and neighbors, all pooling their best effort. At least by the end of the day, the sun that had been obscured by rain clouds for much of the day was able to shine through before setting, perhaps a small signal of the better days ahead with everyone working together. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
17-05-2025
- Business
- Business Insider
Mayville Engineering says ‘limited damage' to Wisconsin facility from tornado
Mayville Engineering (MEC) announced that one of its manufacturing facilities in Mayville, Wisconsin sustained limited damage from a tornado on Thursday, May 15. All onsite employees are safe and no injuries were reported. The company expects a minimal impact to its business and anticipates the facility will resume normal operations by early next week. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Yahoo
16-05-2025
- Climate
- Yahoo
Tornadoes leveled their Dodge County homes and businesses. Now, they have to pick up the pieces
On May 16, Dodge County residents woke up to fallen trees, collapsed roofs and other significant property damage left by several tornadoes that touched down the previous evening. Just hours later, neighbors, families and friends were working to clean up each other's homes, chipping away at everything from uprooted pine trees to stray construction debris. Their resilience drew praise from Gov. Tony Evers who visited the area May 16. "While there is a lot of work and cleanup ahead, it is always extraordinary to see how Wisconsinites come together to support and help each other, especially in times of great need," Evers said in a post on X. The tornadoes were spotted shortly before 6 p.m. on May 15 in Juneau, Horicon and Mayville and have left some people without homes, officials said May 16. Police in Mayville blocked off the area around Gleason Reel Corporation and Mayville Engineering company, both of which incurred significant damage. In Horicon, Steve Kaiser said he was watching from a restaurant across the street as the tornado blew the roof off his mechanic shop, crushing his nearby dump truck, trailer and shed. "It was something to see," he said. "The whole roof came up and over." Like several other residents, Kaiser was waiting on the morning of May 16 for a claims adjuster from his insurance company to come and evaluate the property. In the meantime, he said the insurance company advised him to keep his shop's regular hours, and several of his friends and neighbors were helping clear felled trees. Kaiser, who is otherwise retired, has worked on the property since 2000. In the immediate future, he said the damage shouldn't significantly affect his ability to run the shop. "I call it my toybox," Kaiser said of the shop. "Just hope it'll be alright." Mike Slade, another Horicon resident, was working with neighbors to clear a massive, fallen pine tree on his property Friday morning. During the storm, Slade was sheltering in his basement, while his wife remained upstairs with his son, who has amyotrophic lateral sclerosis, commonly referred to as ALS. Though he was working to clean up stray branches, Slade said the family hasn't created a plan to address the larger-scale damage in his yard. "We really don't know what we're going to do yet," he said. The tree also hit a power line and cut off power in his home from about 7 p.m. to 1 a.m. on May 16, Slade said. As of 12 p.m. May 16, nearly 600 Alliant Energy customers remained without power in Dodge County. Next door, Slade's neighbor Billy Brandenburg was working to patch up a 4 foot by 8 foot hole in his roof. Brandenburg was out of town during the storm but drove back late on May 15 after his neighbor called to inform him of the damage, he said. Friends and family were helping him clean up the property on Friday morning, including clearing the blown-away roof of another shed on his property. He said he's working with a contractor to patch up the roof hole but hopes insurance will eventually cover the cost. "Nobody got hurt, so that's the good part," Brandenburg added. "All this is just material. It's fixable." As of 9:30 a.m. May 16, Dodge County Sheriff Dale Schmidt said one person in Juneau was transported to a hospital after a roof caved in, and two people have reported minor injuries. Otherwise, Schmidt said "we've had very little in the way of injury." American Red Cross volunteers were also stationed at Dodgeland Schools and Mayville High School to aid displaced residents. The Mayville outpost was open overnight and about nine people came in immediately after the storm for food and shelter, said Red Cross volunteer Tania Behselich. The organization is sending out an emergency vehicle on May 16 to distribute emergency kits with cleaning supplies, food and water for residents working to clear their property. "We're going to be open until the last person needs us here," she said. Scott Sabol, superintendent of the Mayville School District, said the district cancelled classes on May 15 in anticipation of the storm. "That was a good decision," he said. "Little did we know what was actually about to happen." Sabol said the residents trickling into the school have been "just a little rattled in the beginning," but otherwise alright — and the district plans to move forward with its planned high school graduation on May 18. "It's going to be status quo for us," he added. "We're going to celebrate our students Sunday." This article originally appeared on Milwaukee Journal Sentinel: Mayville, Horicon residents clean up Dodge County tornado damage
Yahoo
08-05-2025
- Automotive
- Yahoo
Mayville Engineering Co Inc (MEC) Q1 2025 Earnings Call Highlights: Navigating Challenges with ...
Release Date: May 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Mayville Engineering Co Inc (NYSE:MEC) achieved a 12% sequential sales growth and margin expansion despite softer customer demand. The company maintained its full-year guidance, driven by strong execution and demand in less cyclical markets like military. MEC's domestic footprint positions it well to benefit from OEM reshoring activities and changes in US trade policy. The company secured significant new business wins, progressing towards its annual goal of $100 million in new business. MEC generated $5.4 million in free cash flow during the first quarter, with a free cash flow conversion of 44% of adjusted EBITDA. Negative Points Total sales for the first quarter decreased by 15.9% year over year due to softer customer demand and inventory destocking. The manufacturing margin decreased from $20.9 million to $15.3 million, primarily due to lower net sales. The construction and access market revenue decreased by 31.4% year over year, reflecting soft demand. Agricultural market revenues decreased by 26.9% year over year, with an uncertain outlook due to interest rates and trade policy impacts. Adjusted EBITDA margin decreased by 250 basis points to 9% in the current quarter, attributed to lower sales despite cost rationalization efforts. Q & A Highlights Q: Can you discuss the expected market trends for the second half of 2025, particularly in commercial vehicles and power sports? A: (CEO) We anticipate a slight uptick in the commercial vehicle market in the second half due to potential 2027 regulation changes and pre-buys in 2025 and 2026. The power sports market remains highly dependent on interest rates, and we do not expect significant changes in demand for 2025. The agriculture market is not expected to recover until 2026. Q: How are tariffs and reshoring impacting your business, and are there any standout markets? A: (CEO) We are well-positioned to benefit from any increased tariff regime due to our domestic manufacturing footprint, with 95-96% of our inputs sourced domestically. We are in discussions with customers about potential opportunities, but they remain cautious due to the dynamic nature of tariffs. Q: What is the onboarding timeline for new customers if tariffs become structural? A: (CEO) If a structural tariff regime is in place by mid-year, we could start a program within 3 to 4 months, potentially seeing benefits by late Q3 or early Q4.
