Mayville Engineering Company (MEC) Q4 2025 Earnings
How Did MEC Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −3.82%.
Did MEC Beat Earnings? Q4 2025 Results
No. Mayville Engineering Company reported Q4 2025 earnings of $-0.08 a share on Mar 3, 2026, missing the $-0.08 consensus estimate by 6.7%. Revenue was $134.3M against a $133.6M estimate.
Mayville Engineering Company delivered a mixed fourth quarter for fiscal 2025, posting revenue that edged past expectations while profitability fell short on both a reported and adjusted basis. Net sales of $134.27 million rose 10.7% year-over-year, nudging just ahead of the $133.59 million consensus, but adjusted loss per share of $0.08 missed the $0.07 estimate by 6.67%, as project launch costs in the company's fast-growing Data Center and Critical Power segment, combined with early-stage inefficiencies on a Commercial Vehicle program, compressed adjusted EBITDA to $6.31 million from $9.19 million a year ago. Manufacturing margins narrowed to 6.6% from 8.9%, with $1.20 million in data center launch costs and $1.70 million in commercial vehicle inefficiencies identified as the primary culprits. Four analysts recently lifted their average price target on MEC to $24.25, reflecting optimism that these headwinds are temporary. Looking ahead, management guided full-year 2026 net sales of $580 million to $620 million and adjusted EBITDA of $50 million to $60 million, with profitability improvement expected to accelerate in the second half as data center programs ramp toward representing more than 20% of total revenue.
- Accu-Fab acquisition contributing incremental revenue across multiple end markets
- Accelerating demand in Data Center & Critical Power end market with 12.7% organic growth
- New business wins driving 19.7% growth in Powersports
- Organic net sales growth of 10.8% in Construction & Access
- 25.3% decline in North American Class 8 commercial vehicle production weighing on Commercial Vehicle segment
- Project launch costs of $1.2M in Data Center & Critical Power and $1.7M early-stage inefficiencies in Commercial Vehicle pressuring margins
“We closed fiscal 2025 with strong momentum within our Data Center & Critical Power end market, securing $15 million of incremental project awards during the fourth quarter, strengthening our 2026 orderbook.”
Mayville Engineering Company CEO, on the earnings call
What Was Mayville Engineering Company's Outlook in Q4 2025?
MEC introduced both quarterly and full-year guidance. For Q1 2026, the company expects net sales of $137M–$143M and Adjusted EBITDA of $5M–$7M, reflecting continued demand softness in Commercial Vehicle, Agriculture, and Military end markets, plus ongoing Data Center & Critical Power project launch costs. Free cash flow in Q1 is expected to reflect normal seasonal working capital usage and incremental working capital for data center ramp-up with CapEx of $3M–$5M. For full-year 2026, MEC guides net sales of $580M–$620M, Adjusted EBITDA of $50M–$60M, and Free Cash Flow of $25M–$35M. Full-year guidance assumes a full year of Accu-Fab ownership, $40M–$50M of incremental cross-selling revenue, and improvement in legacy end market demand primarily in the second half. Data Center & Critical Power is expected to represent more than 20% of MEC's revenue in 2026. Management expects margin pressure to persist near-term but anticipates operating leverage and favorable mix to drive year-over-year profitability growth for full-year 2026.
MEC YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $134.3M | $121.3M | +10.7% |
MEC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.