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Mayville Engineering Company

MEC Q2 2025 Earnings

Reported Aug 5, 2025 at 4:30 PM ET · SEC Source

Q2 25 EPS

$0.10

BEAT +67.50%

Est. $0.06

Q2 25 Revenue

$132.3M

MISS 4.09%

Est. $138.0M

vs S&P Since Q2 25

+106.1%

BEATING MARKET

MEC +121.3% vs S&P +15.2%

Market Reaction

Did MEC Beat Earnings? Q2 2025 Results

Mayville Engineering Company delivered a mixed second quarter for 2025, posting adjusted earnings per share of $0.10 against a consensus estimate of $0.06, a beat of 67.50%, even as revenue came in at $132.33 million, falling 4.09% short of the $137.… Read more Mayville Engineering Company delivered a mixed second quarter for 2025, posting adjusted earnings per share of $0.10 against a consensus estimate of $0.06, a beat of 67.50%, even as revenue came in at $132.33 million, falling 4.09% short of the $137.98 million Wall Street expected and declining 19.1% from a year ago. The shortfall traced largely to broad-based volume weakness across key end markets, with Agriculture tumbling 36.9%, Powersports dropping 35.2%, and Construction and Access sliding 25.9%, pressures only partially cushioned by a 26.8% surge in Military sales. Adjusted EBITDA compressed to $13.68 million, representing a 10.3% margin compared to 12.0% a year prior. Looking ahead, management updated full-year 2025 guidance to reflect both the July 1 completion of its Accu-Fab acquisition and continued legacy market softness, now targeting net sales of $528 million to $562 million and Adjusted EBITDA of $49 million to $55 million, revisions that came alongside the withdrawal of the company's 2026 Investor Day targets amid macroeconomic uncertainty.

Key Takeaways

  • • Lower customer demand across majority of end markets including Commercial Vehicle, Construction & Access, Powersports, and Agriculture
  • • Channel inventory de-stocking by customers across multiple end markets
  • • Regulatory uncertainty impacting Commercial Vehicle order volumes
  • • Cost reduction and lean operations initiatives under MBX framework partially offsetting volume declines
  • • Increased after-market demand in Military end market
  • • New customer projects in industrial equipment & fixtures, power generation, and automotive aluminum extrusions driving Other segment growth
  • • Lower interest expense due to reduced borrowings and lower interest rates
24/7 Wall St

MEC YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

MEC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q2 25 Q1 26

“Our second quarter results underscore the resilience and strong execution of our team, as we delivered improved Adjusted EBITDA margins compared to the first quarter, despite a challenging customer demand environment. Our MBX framework continues to guide our disciplined focus on lean operations and cost management, enabling us to enhance operating leverage and generate strong free cash flow.”

— Jag Reddy, Q2 2025 Earnings Press Release

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