10-Q · November 5, 2025
MEC reported quarterly net sales of $144,310 (per filing, in thousands), up from $135,392 in Q3 2024, but profitability deteriorated: operating income fell to $48 from $5,727 and the company posted a net loss of $2,675…
Earnings analysis · 10-Q
MEC earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
Mayville Engineering Company reported Q1 2026 revenue of $144.8 million, surpassing estimates by 4.0%, with an EPS of -$0.15 outperforming expectations of -$0.24. The company's growth was driven by the Datacenter &…
Read full summary
Mayville Engineering Company reported Q1 2026 revenue of $144.8 million, surpassing estimates by 4.0%, with an EPS of -$0.15 outperforming expectations of -$0.24. The company's growth was driven by the Datacenter & Critical Power segment, although challenges in legacy markets were noted. The overall performance reflects continued operational struggles, especially in margins despite revenue growth.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.15
What stood out
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Revenue Growth
Revenue reached $144.8 million, up 6.8% from $135.6 million Y/Y.
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EPS Outperformance
Reported EPS of -$0.15 compared to estimates of -$0.24.
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Segment Strength
Notable growth in the Datacenter & Critical Power segment contributed to higher sales.
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Capital Expenditures
Capex increased to $4.2 million from $3.0 million Y/Y, reflecting investment in growth.
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Debt Increase
Interest expense rose significantly by 133.6% to $3.7 million year-over-year.
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Margin Pressures
Gross margin decreased to 7.6% from 11.3% Y/Y, highlighting operational challenges.
What to watch
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Increased Debt Levels
Interest expense jumped by 133.6% to $3.7 million due to higher borrowings.
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Negative Free Cash Flow
Free cash flow for the quarter was -$6.9 million, down from $5.4 million the previous year.
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Weakness in Legacy Markets
Demand in key legacy markets like Commercial Vehicles and Military shows continued decline.
Management's outlook
Future guidance emphasized focus on managing legacy market headwinds while capitalizing on Datacenter growth.
Earlier filings 4
10-K · March 6, 2024
MEC positions itself as a vertically integrated, U.S.-based Tier‑1 value‑added manufacturer with broad end‑to‑end capabilities and scale. The 10‑K emphasizes market leadership (ranked largest U.S. fabricator 2011–2023),…
10-Q · May 3, 2023
MEC reported Q1 net sales of $142,645,000, up $6,393,000 (4.7%) versus Q1 2022 ($136,252,000), but profitability and cash generation deteriorated. Gross margin improved modestly to 11.48% from 10.92% a year ago, while…
10-K · March 1, 2023
MEC presents a strategy focused on leveraging its scale, end-to-end capabilities and technology-enabled automation to win share from OEMs through organic expansion, the MBX lean initiative and opportunistic M&A. The…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.