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    Robert Samuel Karlov

    Research Analyst at Robert W. Baird & Co.

    Robert Samuel Karlov is an Equity Research Analyst at Robert W. Baird & Co., specializing in coverage of industrial and manufacturing companies including Graco Inc., JBT Corporation, and UniFirst Corp. He is recognized for his detailed financial analysis and active participation in earnings calls, delivering insightful margin and operational forecasts; his research contributions have demonstrated a high level of accuracy and reliability, although specific public performance metrics or rankings are not available. Karlov began his analyst career prior to 2024 and has established a professional presence at Baird, regularly interfacing with C-suite executives for both margin guidance and strategic initiatives. He maintains active securities analyst credentials and is registered with FINRA, operating under industry standard licensing requirements.

    Robert Samuel Karlov's questions to Mayville Engineering Company (MEC) leadership

    Robert Samuel Karlov's questions to Mayville Engineering Company (MEC) leadership • Q4 2024

    Question

    Robert Samuel Karlov of Robert W. Baird & Co. inquired about the 2025 margin guidance, specifically asking for an update on MBX initiatives from Q4 and how potential tariffs might impact the company's various end markets.

    Answer

    Executive Todd Butz stated that Q4 represented a low point for margins and that the company anticipates $1-3 million in improvements from MBX and pricing in 2025, net of inflation, with benefits becoming more substantial in the second half of the year. Executive Jagadeesh Reddy added that MEC is a primarily domestic manufacturer with over 95% of inputs sourced in the U.S., so the direct impact of announced tariffs is expected to be limited, as key commodity costs like steel and aluminum are passed through to customers.

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