How did Mayville Engineering's operating profit surge in Q4 2024 despite revenue decline?

Mayville Engineering's operating profit surged to $21.04 million in Q4 2024, up from the previous quarter's $15.324 million, despite a decline in total revenue to $121.31 million from $135.579 million. This improvement in operating profit can be attributed to:

|code|Ticker|Name|Date|Operating Income|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|MEC|MEC.N|Mayville Engineering|2023 Q4|1795000|1.48582E8|169|
|MEC|MEC.N|Mayville Engineering|2024 Q1|4275000|1.61269E8|169|
|MEC|MEC.N|Mayville Engineering|2024 Q2|5181000|1.63636E8|169|
|MEC|MEC.N|Mayville Engineering|2024 Q3|3074000|1.35392E8|169|

1. **Cost Management**: The company effectively managed its costs, which led to a significant increase in operating profit margin. This is evident from the fact that operating income increased by approximately 37% while total revenue decreased by about 10%.
2. **Efficient Operations**: Mayville Engineering's operational efficiency improved, allowing the company to maintain profitability despite lower revenue. This could be due to streamlined manufacturing processes, better labor management, or reduced waste.

In summary, Mayville Engineering's focus on cost management and efficient operations helped the company to increase its operating profit in Q4 2024 despite a decline in revenue.