Mayville Engineering Company, Inc. (NYSE:MEC) Q2 2022 Results Conference Call August 3, 2022 10:00 AM ET

Company Participants

Nathan Elwell - IR

Jag Reddy - President and CEO

Todd Butz - CFO

Ryan Raber - EVP, Strategy, Sales and Marketing

Conference Call Participants

Joe Grabowski - Baird

Larry De Maria - William Blair

Vlad Bystricky - Citigroup

Operator

Good morning. Thank you for attending today’s Mayville Engineering Company Second Quarter 2022 Earnings Conference Call. My name is Francis, and I’ll be your moderator today. [Operator Instructions]

I would now like to pass the conference over to our host, Nathan Elwell, Investor Relations.

Nathan Elwell

Thank you, Francis. Welcome, everyone, and thank you for joining us on today’s call. A few quick items before we begin. First, please note that some of the information you will hear during this call will consist of forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended. Such statements express our expectations, anticipations, beliefs, estimates, intentions, plans and forecasts. [Technical Difficulty] forward-looking statements involve risks, assumptions and uncertainties, our actual results could differ materially from those in the forward-looking statement. For more information regarding such risks and uncertainties, please see our filings with the Securities and Exchange Commission, including our filings on Form 10-K for the period ended December 31, 2021. We assume no obligation and do not intend to update any such forward-looking statements, except as required by federal securities laws.

Second, this call will involve a discussion of certain non-GAAP financial measures. Reconciliation of these measures to the closest GAAP financial measure is included in the earnings press release, which is available at mecinc.com. Joining me on the call today are Jag Reddy, President and Chief Executive Officer; Todd Butz, Chief Financial Officer; and Ryan Raber, EVP of Strategy, Sales and Marketing. Jag will begin with his opening remarks followed by Ryan discussing the company’s end markets and new business outlook. Then Todd will review our financial results and guidance.

With that, I’ll hand the call over to Jag. Please, go ahead.

Jag Reddy

Thank you, Nathan, and good morning, everyone. I have been in my role for two weeks now, and my excitement on joining the company just continues to grow. There are many reasons I am so excited to be here. Let me share just a few. MEC has built a strong business and legacy over 77 years. We are the undisputed industry leader with highly skilled people and great assets. Macroeconomic trends such as reshoring and outsourcing by major OEMs are in our favor. With our differentiated offerings and footprint, we are uniquely positioned to deliver significant value for our customers and our competitive advantages continue to grow. But really, my first priority is to listen and learn. I will be visiting as many of our locations as possible in the coming months to meet the teams and understand what is working well and what needs improvement. I will be meeting with our customers and partners to see what more we could do to help them achieve their goals. I want to build upon our customer-first mindset with a renewed focus on innovation. I am confident in our ability to be nimble, grow profitably and continue to expand both our customer base and offerings.