Mayville Engineering | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 162.98 M

Revenue: As of FY2026 Q2, the actual value is USD 162.98 M, beating the estimate of USD 150.59 M.

EPS: As of FY2026 Q2, the actual value is USD -0.09, beating the estimate of USD -0.1167.

EBIT: As of FY2026 Q2, the actual value is USD 388 K.

Segment Revenue (Second Quarter 2026)

• Commercial Vehicle: $50.8 million, an increase of 3.4% versus the prior year period.
• Datacenter & Critical Power: $29.0 million, a significant increase of 476.5% versus the prior year period, with organic net sales growth of 172.8%.
• Construction & Access: $23.1 million, an increase of 14.7% versus the prior year period.
• Powersports: $18.5 million, a decrease of -6.0% versus the prior year period.
• Agriculture: $9.0 million, a decrease of -3.0% versus the prior year period.
• Military: $6.5 million, a decrease of -22.6% versus the prior year period.
• Other: $26.1 million, an increase of 25.6% versus the prior year period.

Operational Metrics (Second Quarter 2026)

• Net Loss: Mayville Engineering Company, Inc. reported a net loss of -$2.1 million, compared to a net loss of -$1.1 million in the prior year period.
• Manufacturing Margin: The manufacturing margin was $17.7 million, or 10.9% of net sales, up from $13.6 million, or 10.3% of net sales, in the prior year period.
• Bonuses and Deferred Compensation Expense: This expense was $4.8 million, compared to $1.5 million in the prior year period.
• Other Selling, General and Administrative Expenses: These expenses decreased to $9.3 million from $10.3 million in the prior year period.
• Interest Expense: Interest expense increased to $3.5 million, compared to $1.4 million in the prior year period.
• Adjusted EBITDA: Adjusted EBITDA was $13.2 million, or 8.1% of net sales, compared to $13.7 million, or 10.3% of net sales, in the prior year period.
• Adjusted Net Income: Adjusted Net Income was $1.6 million, down from $3.4 million in the prior year period.

Cash Flow

• Quarterly Free Cash Flow (Second Quarter 2026): Free cash flow was -$6.6 million, compared to $12.5 million in the prior year period.
• Net Cash Used in Operating Activities (Six Months Ended June 30, 2026): Net cash used in operating activities was -$1.3 million, compared to net cash provided of $23.3 million in the prior year period.
• Net Cash Used in Investing Activities (Six Months Ended June 30, 2026): Net cash used in investing activities was -$12.3 million, compared to -$5.4 million in the prior year period.

Unique Metrics and Balance Sheet

• Mayville Engineering Company, Inc. secured $40 million in Datacenter & Critical Power project awards during the quarter, with a qualified opportunity pipeline exceeding $125 million.
• As of June 30, 2026, net debt outstanding was $134.7 million, and the total cash and availability on its senior secured revolving credit facility was $108.5 million.
• The ratio of net debt to trailing twelve-month Adjusted EBITDA was 2.9x as of June 30, 2026.
• A common stock offering generated approximately $94 million in net proceeds.

Outlook / Guidance

Mayville Engineering Company, Inc. is raising its full-year 2026 net sales guidance by approximately 5% and expects continued recovery in Commercial Vehicle and Construction & Access end markets, along with the ramp-up of Datacenter & Critical Power programs. For Q3 2026, net sales are forecast between $160 million and $170 million, with Adjusted EBITDA projected between $15.5 million and $18.5 million. Full-year 2026 net sales are expected to range from $620 million to $650 million, with Adjusted EBITDA between $52 million and $60 million and Free Cash Flow between $7 million and $15 million.