Mayville Engineering Company Inc
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.05%.
Did MEC Beat Earnings? Q2 2026 Results
Mayville Engineering Company delivered a decisive beat across both top and bottom lines in Q2 2026, with the Wisconsin-based manufacturer posting non-GAAP adjusted diluted EPS of $0.07 against a consensus estimate of negative $0.05, a 238.89% positive surprise, while revenue of $162.98 million topped the $150.59 million consensus by 8.23% and climbed 23.2% year over year. The standout force behind the quarter was MEC's rapidly expanding Datacenter and Critical Power business, which surged 476.5% year over year as the company secured approximately $40 million in new project awards and maintained a qualified opportunity pipeline exceeding $125 million, a growth trajectory that has drawn considerable analyst attention given the AI-driven infrastructure buildout. The Accu-Fab acquisition, completed in Q3 2025, contributed meaningfully to both revenue and manufacturing margin improvement, though elevated interest expense and $2.10 million in program launch costs tempered overall profitability. Looking ahead, management raised full-year 2026 net sales guidance to a range of $620 million to $650 million, while committing an incremental $50 million in organic capacity investment to capture further Datacenter and Critical Power opportunities through 2027.
- Datacenter & Critical Power organic net sales growth of 172.8% year-over-year
- Accu-Fab acquisition contributed to revenue growth and higher-margin sales mix
- Improved capacity utilization as demand in several legacy end markets improved
- Stronger-than-expected Commercial Vehicle order activity with improving freight market fundamentals
- Strong aluminum extrusion demand driving Other end market growth of 25.6%
- Improved non-residential construction demand supporting Construction & Access growth
“Our second quarter results reflect stronger-than-expected order activity within our Commercial Vehicle end market and continued momentum across our Datacenter & Critical Power end market. Our execution remained strong as we continued to invest in resources and equipment necessary to support the accelerating customer demand. As volumes increased, margins improved through better capacity utilization, though we continued to absorb project launch costs associated with the ramp up of new Datacenter & Critical Power programs. At the same time, we are making selective decisions to prioritize capacity for higher-value, higher-margin programs that support long-term profitable growth.”
Mayville Engineering Company CEO, on the earnings call
Forward Guidance & Outlook
MEC raised its full-year 2026 net sales guidance by approximately 5%, now targeting $620 million to $650 million (midpoint $635 million), up from FY 2025 actual of $546.5 million. Full-year Adjusted EBITDA is guided at $52 million to $60 million, and Free Cash Flow at $7 million to $15 million, with planned capital expenditures of $25 million to $35 million. For Q3 2026, the company expects net sales of $160 million to $170 million and Adjusted EBITDA of $15.5 million to $18.5 million, with Q3 capital expenditures of $10 million to $12 million. Guidance assumes a full year of Accu-Fab ownership, $50 million to $60 million of incremental cross-selling revenue, continued improvement in key legacy end markets, and ongoing launch costs from Datacenter & Critical Power program ramp-ups. The company also plans to invest an incremental $50 million in organic growth initiatives across 2026 and 2027 to expand capacity for higher-value Datacenter & Critical Power programs.
MEC YoY Financials
MEC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.