Mayville Engineering Company reports Q2 2026 revenue $163.0M, adjusted EBITDA $13.2M, adjusted EPS $0.07

Mayville Engineering Company reported second-quarter 2026 net sales of $163.0 million, a 23.2% year-over-year increase, and an adjusted EBITDA of $13.2 million. The company posted a GAAP net loss of $2.1 million (diluted loss of $0.09) and reported Adjusted Diluted EPS of $0.07 for the quarter. Qua…

Mayville Engineering Company reported second-quarter 2026 net sales of $163.0 million, a 23.2% year-over-year increase, and an adjusted EBITDA of $13.2 million. The company posted a GAAP net loss of $2.1 million (diluted loss of $0.09) and reported Adjusted Diluted EPS of $0.07 for the quarter. Quarterly free cash flow was negative $6.6 million as MEC continued capital investments to support Datacenter & Critical Power program ramps.

Financial Highlights

Revenue: Net sales of $163.0 million for the three months ended June 30, 2026, up 23.2% year-over-year.
Gross profit / Manufacturing margin: Manufacturing margin of $17.7 million, representing 10.9% of net sales (prior-year manufacturing margin $13.6 million, 10.3%).
Operating income: Income (loss) from operations of $0.4 million for Q2 2026.
Net income: GAAP net loss of $2.1 million, or ($0.09) per diluted share, for the quarter.
Adjusted results: Adjusted EBITDA of $13.2 million (8.1% of net sales) and Adjusted Diluted EPS of $0.07 for Q2 2026.

Business Highlights

End-market momentum: Organic growth led by Datacenter & Critical Power (organic growth 172.8% year-over-year in the quarter) and improved demand in Commercial Vehicle and Construction & Access markets.
Acquisition contribution: Revenues benefited from the Accu-Fab acquisition completed in Q3 2025, contributing to higher margin sales and expanded Datacenter & Critical Power capacity.
New awards and pipeline: Secured approximately $40 million in Datacenter & Critical Power project awards during the quarter and reported a qualified opportunity pipeline exceeding $125 million.
Capacity investments: Continued investments in equipment and workforce to support accelerated Datacenter & Critical Power volumes, including planned incremental organic investments of $50 million across 2026 and 2027 to expand capacity for higher-value programs.
Balance sheet and liquidity actions: Completed a common stock offering in the quarter generating ~ $94 million net proceeds, used to reduce debt and increase available liquidity to more than $100 million; net debt was $134.7 million and cash plus revolver availability totaled $108.5 million as of June 30, 2026.

Original SEC Filing:

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