Mayville Engineering Company Inc
F:2YN
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Mayville Engineering Company Inc
F:2YN
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F:DVW1
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Raku Co Ltd
TPEX:4154
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Mayville Engineering Company Inc
Mayville Engineering Company makes metal parts and assemblies for other manufacturers. It cuts, stamps, forms, welds, coats, and assembles sheet metal and other fabricated components, then delivers finished parts that go into equipment and vehicles. Its customers are original equipment manufacturers that need a reliable outside partner for metal production rather than building every part in-house. The company sells manufacturing services and finished components, so it earns money by turning customer designs and orders into physical parts. Its main end markets include commercial vehicles, construction and agricultural equipment, powersports, defense, and other industrial products that use durable metal structures and enclosures. What makes Mayville different is its role in the supply chain: it sits between the OEM and the final product, handling the messy, specialized work of fabrication and assembly. That gives customers one supplier for many steps of production and lets Mayville benefit from long-running relationships tied to equipment platforms and replacement needs.
Mayville Engineering Company makes metal parts and assemblies for other manufacturers. It cuts, stamps, forms, welds, coats, and assembles sheet metal and other fabricated components, then delivers finished parts that go into equipment and vehicles. Its customers are original equipment manufacturers that need a reliable outside partner for metal production rather than building every part in-house.
The company sells manufacturing services and finished components, so it earns money by turning customer designs and orders into physical parts. Its main end markets include commercial vehicles, construction and agricultural equipment, powersports, defense, and other industrial products that use durable metal structures and enclosures.
What makes Mayville different is its role in the supply chain: it sits between the OEM and the final product, handling the messy, specialized work of fabrication and assembly. That gives customers one supplier for many steps of production and lets Mayville benefit from long-running relationships tied to equipment platforms and replacement needs.
Strong top line: Second-quarter sales rose to $163 million, up 23.2% year over year, and organic sales were up 9.2%, helped by a strong rebound in Commercial Vehicle and Construction & Access plus rapid Datacenter & Critical Power growth.
Guidance lifted: Management raised full-year net sales guidance to $620 million to $650 million, while keeping adjusted EBITDA guidance at $52 million to $60 million and lowering free cash flow guidance to $7 million to $15 million.
Data center surge: Datacenter & Critical Power organic growth was 173% year over year, and the company said its qualified opportunity pipeline is above $125 million, with about $50 million to $60 million of 2026 launches expected.
Near-term costs: Launch and outsourcing costs are pressuring margins now; MEC expects another $2 million to $3 million of outsourcing costs in the second half and $5 million to $6 million of launch-related costs for the full year.
Balance sheet reset: The company completed a stock offering that brought in about $94 million of net proceeds, used the money to reduce debt, and ended the quarter with more than $100 million of available liquidity.
Capacity discipline: Management said it is being selective with new business, including saying no to some smaller programs, while exploring customer capacity reservations and a possible new Southeast facility to support future growth.
