Mayville Engineering Company, Inc. (MEC)
Summary
Mayville Engineering Company Needs A Downgrade After A Historic Run
Mayville Engineering Company has delivered significant outperformance, rising 90.8% since its original ‘strong buy' rating, but is now downgraded to ‘buy.'. MEC's Q1 2026 revenue grew 6.8% to $144.8 million, driven by data centers, critical power markets, and the Accu-Fab acquisition. Despite revenue growth, MEC's profitability declined due to one-off impairment charges and higher interest expense from increased net debt.
Mayville Engineering Q1 Earnings Call Highlights
Mayville Engineering NYSE: MEC reported first-quarter 2026 results that topped management's expectations, as rapid growth in its data center and critical power business offset continued softness across several legacy end markets.
Mayville Engineering Company, Inc. (MEC) Q1 2026 Earnings Call Transcript
Mayville Engineering Company, Inc. (MEC) Q1 2026 Earnings Call Transcript
Mayville Engineering Company, Inc. Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 7,700 | $154,847 | $258,181 | $103,334 | 66.73% |
| SN Stephanie Nee HARBOR CAPITAL ADVISORS Inc. | 7,785 | $139,740.75 | $262,237.72 | $122,496.97 | 87.66% |
 Joseph Castro Nuveen LLC | 47,418 | $842,758.52 | $1.59M | $746,692.84 | 88.6% |
| MPM Mark P. Mennitt CenterBook Partners LP | 120,303 | $2.04M | $4.03M | $1.98M | 97.1% |
 Jennifer Grunberg Allspring Global Investments Holdings LLC | 2M | $27.16M | $67.23M | $40.07M | 147.52% |
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Mayville Engineering Company, Inc. Profile
| Metals & Mining Industry | Materials Sector | Mr. Jagadeesh A. Reddy CEO | NYSE Exchange | 578605107 CUSIP |
| US Country | 2,400 Employees | - Last Dividend | 26 Mar 2004 Last Split | 9 May 2019 IPO Date |
Overview
Mayville Engineering Company, Inc., established in 1945 and based in Milwaukee, Wisconsin, operates across the United States with a focus on manufacturing and engineering services. The company, through its numerous subsidiaries, is deeply involved in the design, prototyping, tooling, fabrication, aluminum extrusion, coating, and assembly of aftermarket components. It caters to a diverse clientele, including original equipment manufacturers (OEMs), by supplying engineered components that find applications in a wide array of industries. These industries range from heavy and medium-duty commercial vehicles to construction and access equipment, as well as markets such as powersports, agriculture, military, and more.
Products and Services
- Production - Mayville Engineering Company, Inc. specializes in the production of high-quality, precision-engineered components. This service is central to its operations, focusing on creating durable and reliable products that meet the unique specifications of each client.
- Design, Prototyping, and Tooling - The company offers comprehensive design and development services, including prototyping and tooling. These services are aimed at transforming conceptual ideas into tangible products through efficient and innovative methods, ensuring that the components are designed for manufacturability and functionality.
- Fabrication - Mayville Engineering is adept in the fabrication of metal components, employing state-of-the-art techniques to bend, cut, and assemble parts as per the requirements. Their fabrication service is flexible enough to handle high-volume production as well as small, customized projects.
- Aluminum Extrusion - They provide aluminum extrusion services, a process critical for creating components with complex cross-sections. This capability allows for the manufacturing of lightweight, strong, and durable aluminum parts used across various industries.
- Coating - Offering coating services, Mayville Engineering ensures that the components not only have an improved aesthetic appeal but are also protected against corrosion, wear and tear, extending the durability and life span of the products.
- Assembling - The company takes pride in its assembling service where it combines various parts into a complete unit, ready for installation or direct use. This service streamlines the manufacturing process for clients, providing them with ready-to-use components.
- Supply of Engineered Components to OEMs - A significant part of Mayville Engineering's operations involves the supply of engineered components to original equipment manufacturers. These components are integral to the assembly of OEM products, ensuring efficiency and reliability in the end products delivered to consumers across heavy and medium-duty commercial vehicles, construction and access equipment, powersports, agriculture, military, and other markets.
