Form 8-K

8-K — Mayville Engineering Company, Inc.

Accession: 0001104659-26-055669

Filed: 2026-05-05

Period: 2026-05-05

CIK: 0001766368

SIC: 3460 (METAL FORGING & STAMPINGS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — tmb-20260505x8k.htm (Primary)

EX-99 (tmb-20260505xex99.htm)

GRAPHIC (tmb-20260505xex99001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: tmb-20260505x8k.htm · Sequence: 1

Mayville Engineering Company, Inc._May 5, 2026

0001766368false00017663682026-05-052026-05-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 5, 2026

Mayville Engineering Company, Inc.

(Exact name of registrant as specified in its charter)

Wisconsin

001-38894

39-0944729

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

135 S. 84th Street, Suite 300

Milwaukee, Wisconsin 53214

(Address of principal executive offices, including zip code)

(414) 381-2860

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, no par value

MEC

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On May 5, 2026, Mayville Engineering Company, Inc. issued a press release announcing financial results for its three months ended March 31, 2026. A copy of such press release is furnished as Exhibit 99 to this Current Report on Form 8-K and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(d) Exhibits. The exhibit listed in the exhibit index below is being furnished herewith.

EXHIBIT INDEX

Exhibit

Number

Press Release of Mayville Engineering Company, Inc., dated May 5, 2026 regarding financial results for its three months ended March 31, 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MAYVILLE ENGINEERING COMPANY, INC.

Date: May 5, 2026

By:

/s/ Rachele M. Lehr

Rachele M. Lehr

Chief Financial Officer

EX-99

Filename: tmb-20260505xex99.htm · Sequence: 2

Exhibit 99

MAYVILLE ENGINEERING COMPANY ANNOUNCES

FIRST QUARTER 2026 RESULTS

MILWAUKEE, Wis., May 5, 2026 – Mayville Engineering Company (NYSE: MEC) (the “Company” or “MEC”), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end markets, today announced results for the three-months ended March 31, 2026.

FIRST QUARTER 2026 RESULTS

(All comparisons versus the prior-year period)

● Net sales of $144.8 million, or +6.8% y/y

● Net loss of $8.2 million, or ($0.40) per diluted share; Non-GAAP Adjusted Diluted EPS of ($0.15)

● Adjusted EBITDA of $6.5 million

● Adjusted EBITDA margin of 4.5% of net sales

● Quarterly Free Cash Flow of ($6.9) million

● Ratio of net debt to trailing twelve-month Adjusted EBITDA of 4.4x as of March 31, 2026

● Secured $50 million in Datacenter & Critical Power project awards

MANAGEMENT COMMENTARY

“We concluded the first quarter with strong momentum, driven by successful project ramp activity in our Datacenter & Critical Power end market," said Jag Reddy, President and Chief Executive Officer. “As anticipated, results reflected headwinds from project launch costs and softer demand across our legacy end markets. Additionally, we experienced improving margin realization late in the quarter as several Datacenter & Critical Power programs transitioned into full production. This progress reinforces our confidence in meaningful profitability improvement as the year progresses."

“Demand within our Datacenter & Critical Power end market remains robust and continues to be the primary growth catalyst for MEC,” Reddy continued. “In the first quarter alone, we secured approximately $50 million of new Datacenter & Critical Power project awards, surpassing the total awards won in this end market during the entire second half of last year. Our qualified opportunity pipeline exceeds $125 million, supported by strong customer quoting activity. We expect this momentum to drive profitable growth as we move through 2026. While conditions in our legacy end markets remain mixed, the strength and trajectory of our Datacenter & Critical Power business provides clear visibility to improved financial performance.”

“Our capital allocation priorities remain clear and disciplined," Reddy concluded. "We are focused on debt reduction and targeted investments in equipment and capacity needed to support accelerating Datacenter & Critical Power end market demand. As profitability and free cash flow strengthen throughout the year, we will look to continue to reduce leverage while investing to scale and diversify our platform, all with the objective of maximizing long-term shareholder value.”

PERFORMANCE SUMMARY

Net sales increased by 6.8% on a year-over-year basis in the first quarter of 2026, primarily due to organic growth in the Datacenter & Critical Power, Construction & Access and Powersports end markets and the impact of the Accu-Fab, which was acquired in the third quarter of 2025. These increased volumes were partially offset by lower demand in the Commercial Vehicle and Military end markets.

Manufacturing margin was $11.0 million in the first quarter of 2026, or 7.6% of net sales, versus $15.3 million, or 11.3% of net sales, in the prior year period. The year-over-year decrease in manufacturing margin was primarily attributable to $1.2 million of project launch costs within the Datacenter & Critical Power end market, non-recurring restructuring costs, and lower capacity utilization due to softer demand primarily within the Commercial Vehicle end market. This decrease was partially offset by higher margin sales contribution from the Accu-Fab acquisition.

Bonuses and deferred compensation expense was $4.8 million in the first quarter of 2026 as compared to $3.3 million in the prior year period. Other selling, general and administrative expenses were $9.2 million in the first quarter of 2026 as compared to $8.7 million for the same prior year period. The increase in other selling, general and administrative expenses primarily reflects incremental SG&A expense associated with the Accu-Fab acquisition.

Interest expense was $3.7 million in the first quarter of 2026, as compared to $1.6 million in the prior year period, due to increased borrowings under the Company’s revolving credit facility associated with the Accu-Fab acquisition.

Net loss for the first quarter of 2026 was $8.2 million, or ($0.40) per diluted share, versus net income of $20 thousand, or $0.00 per diluted share, in the prior year period.

MEC reported Adjusted EBITDA of $6.5 million in the first quarter of 2026, or 4.5% of net sales, versus $12.2 million, or 9.0% of net sales, in the prior year period. The decrease in Adjusted EBITDA is primarily due to lower Commercial Vehicle end market demand and Datacenter & Critical Power project launch costs, partially offset by the benefit of the Accu-Fab acquisition.

First quarter Adjusted Net Loss was $3.1 million, or ($0.15) per diluted share, versus Adjusted Net Income of $2.3 million, or $0.10 per diluted share, in the prior year period. The increase in Adjusted Net Loss reflects lower income from operations, and higher interest expense.

Free cash flow during the first quarter of 2026 was ($6.9) million as compared to $5.4 million in the prior year period. The decrease was primarily driven by lower cash flow from operations and higher capital expenditures related to equipment investments needed to support rapidly accelerating demand in the Datacenter & Critical Power end market.

END MARKET UPDATE

Three Months Ended

March 31,

2026

2025

Commercial Vehicle

38,775

50,877

Construction & Access

20,135

19,524

Powersports

23,292

22,250

Datacenter & Critical Power

23,626

4,144

Agriculture

10,346

10,935

Military

5,767

8,487

Other

22,839

19,362

Net Sales

144,780

135,579

Commercial Vehicles

MEC is a Tier 1 supplier to many of the country’s top original equipment manufacturers (OEM) of commercial vehicles providing exhaust & aftertreatment, engine components, cooling, fuel and structural systems for both heavy- and medium-duty commercial vehicles.

Net sales to the Commercial Vehicle end market were $38.8 million in the first quarter of 2026, a decrease of 23.8% versus the prior year period. The decrease was attributable to an expected decline in customer demand driven by a 27.2% decrease in North American Class 8 commercial vehicle production compared to the first quarter of 2025.

Construction & Access

MEC manufactures components and sub-assemblies for OEMs within the construction & access market including fenders, hoods, supports, frames, platforms, frame structures, doors and tubular products such as exhaust & aftertreatment, engine components, cooling system components, handrails and full electro-mechanical assemblies.

Net sales to the Construction & Access end market were $20.1 million in the first quarter of 2026, an increase of 3.1% versus the prior year period. The increase in net sales was primarily due to improved non-residential construction demand.

Powersports

MEC manufactures stampings and complex metal assemblies and coatings for OEMs within the all-terrain vehicles (ATV), side-by-sides, utility task vehicles (UTV), marine propulsion, and motorcycle markets. MEC’s powersports expertise includes axle housings, steering columns, swing arms, fenders, suspension components, ATV/UTV racks, cowl assemblies and vehicle frames.

Net sales to the Powersports end market were $23.3 million in the first quarter of 2026, an increase of 4.7% versus the prior year period. The increase in net sales to the Powersports end market was primarily driven by incremental volumes from discrete, short-cycle customer programs, partially offset by continued demand softness among legacy ATV, UTV, and motorcycle OEMs, as well as lower sales within the marine propulsion market.

Datacenter & Critical Power

MEC manufactures precision metal enclosures, racks, frames, and sub-assemblies for OEMs that deliver reliable power distribution, backup energy systems, and intelligent power management solutions in mission-critical datacenter and electrical infrastructure environments.

Net sales to the Datacenter & Critical Power end market were $23.6 million in the first quarter of 2026, an increase of 470.2% versus the prior year period. The increase in sales reflects accelerating demand from legacy customers and revenues associated with the Accu-Fab acquisition. Organic net sales growth in this end market was 71.3% in the first quarter of 2026, when compared to the first quarter of 2025.

Agriculture

MEC is an integral partner in the supply chain of the world’s leading agriculture OEMs manufacturing components and sub-assemblies including fenders, hoods, supports, frames, platforms, frame structures, doors, and tubular products such as exhaust, engine components, cooling system components, handrails and full electro-mechanical assemblies.

Net sales to the Agriculture end market were $10.3 million in the first quarter of 2026, a decrease of 5.4% versus the prior year period. The decrease in net sales in the Agriculture end market reflect continued demand softness for large agricultural equipment, partially offset by improved small agriculture demand.

Military

MEC holds the International Traffic in Arms Regulations (ITAR) certification and produces components for the United States military. Products include exhaust, engine components, cooling, fuel, suspension, structural systems, and chemical agent resistant coating (CARC) painting capabilities.

Net sales to the Military end market were $5.8 million in the first quarter of 2026, a decrease of 32.0% versus the prior year period. The decrease in net sales compared to the prior year was due to program transition delays.

Other

MEC also produces a wide variety of components and assemblies for customers in the industrial equipment & fixtures, consumer tools, mining, forestry, automotive, and medical markets.

Net sales to Other end markets for the first quarter of 2026 were $22.8 million, an increase of 18.0% versus the prior year period. The increase in net sales compared to the prior year period was associated with the Accu-Fab acquisition.

BALANCE SHEET UPDATE

As of March 31, 2026, MEC had net debt outstanding of $219.2 million and total cash and availability on its senior secured revolving credit facility of $261.4 million, with $42.2 million of availability after taking into account for the Company’s debt covenants under the revolving credit facility. At the end of the first quarter, the ratio of net debt to trailing twelve-month Adjusted EBITDA was 4.4x, as calculated pursuant to the terms of the Company’s current Credit Agreement.

FINANCIAL GUIDANCE

Today, the Company is providing financial guidance for the second quarter of 2026 and refining its financial guidance for the full-year by raising the low end of previously announced full-year guidance on March 3, 2026 in connection with the Company’s announcement of its full-year fiscal results. The Company is maintaining the high end of the range for full-year guidance. All guidance is current as of the time provided and is subject to change.

Q2 2025

Q2 2026 Forecast

(in Millions)

Actual

Low

Mid

High

Net Sales

132.3

145

150

155

Adjusted EBITDA

13.7

11.5

Second quarter 2026 sales guidance reflects continued demand softness across legacy end markets, partly offset by ramping revenues on Datacenter & Critical Power projects. Adjusted EBITDA guidance for the quarter also incorporates ongoing project launch costs within the Datacenter & Critical Power end market. Free cash flow for the second quarter of 2026 is expected to reflect incremental working capital investment to support the Datacenter & Critical Power ramp up and planned capital expenditures of $6 million to $8 million.

FY 2025

FY 2026 Forecast

(in Millions)

Actual

Low

Mid

High

Net Sales

546.5

590

605

620

Adjusted EBITDA

47.1

Free Cash Flow

26.9

The Company’s full-year 2026 guidance assumes a full year of Accu-Fab ownership, $50 million to $60 million of incremental cross-selling revenue, and improvement in legacy end market demand, primarily in the second half of the year. Guidance for the year also incorporates Datacenter & Critical Power launch costs associated with awarded programs. Free Cash Flow guidance reflects working capital efficiencies and planned capital expenditures of between $15 and $20 million.

FIRST QUARTER 2026 RESULTS CONFERENCE CALL

The Company will host a conference call on Wednesday, May 6, 2026 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time).

For a live webcast of the conference call and to access the accompanying investor presentation, please visit www.mecinc.com and click on the link to the live webcast on the Investors page.

For telephone access to the conference, call (833) 461-5787 and please use the Access Code: 119453383.

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements that reflect plans, estimates and beliefs. Such statements

involve risk and uncertainties. Actual results may differ materially from those contemplated by these forward-looking statements as a result of various factors. Important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements include, but are not limited to: macroeconomic conditions, including inflation, elevated interest rates, labor availability, material cost pressures trade policy uncertainty and inconsistent demand, have had, and may continue to have, a negative impact on our business, financial condition, cash flows and results of operations (including future uncertain impacts); risks relating to developments in the industries in which our customers operate; risks related to scheduling production accurately and maximizing efficiency; our ability to realize net sales represented by our awarded business; failure to compete successfully in our markets; our ability to maintain our manufacturing, engineering and technological expertise; the loss of any of our large customers or the loss of their respective market shares; risks related to entering new markets; our ability to recruit and retain our key executive officers, managers and trade-skilled personnel; macroeconomic conditions impacting datacenter & critical power end market demand; volatility in the prices or availability of raw materials critical to our business; manufacturing risks, including delays and technical problems, issues with third-party suppliers, environmental risks and applicable statutory and regulatory requirements; our ability to successfully identify or integrate acquisitions; geopolitical and economic developments, including foreign trade relations and associated tariffs; our ability to develop new and innovative processes and gain customer acceptance of such processes; risks related to our information technology systems and infrastructure; results of legal disputes, including product liability, intellectual property infringement and other claims; risks associated with our capital-intensive industry; risks related to our employee stock ownership

plan’s treatment as a tax-qualified retirement plan; our ability to satisfy our current obligations under existing indebtedness and other factors described in “Risk Factors” in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025, as such may be amended or supplemented in our subsequently filed Quarterly Reports on Form 10-Q. This discussion should be read in conjunction with our audited consolidated financial statements included in the Company’s previously filed Annual Report on Form 10-K for the year ended December 31, 2025. We undertake no obligation to update or revise any forward-looking statements after the date on which any such statement is made, whether as a result of new information, future events or otherwise, except as required by federal securities laws.

ABOUT MAYVILLE ENGINEERING COMPANY

Founded in 1945, MEC is a leading U.S.-based, vertically-integrated, value-added manufacturing partner providing a full suite of manufacturing solutions from concept to production, including design, prototyping and tooling, fabrication, aluminum extrusion, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction & access equipment, powersports, datacenter & critical power, agriculture, military and other end markets. Along with process engineering and development services, MEC maintains an extensive manufacturing infrastructure with 27 facilities, of which 22 are in use, across nine states. These facilities make it possible to offer conventional and CNC (computer numerical control) stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly, and logistic services. MEC also possesses a broad range of finishing capabilities including shot blasting, e-coating, powder coating, wet spray and military grade chemical agent resistant coating (CARC) painting. For more information, please visit www.mecinc.com.

NON-GAAP FINANCIAL MEASURES

This press release contains financial information calculated in a manner other than in accordance with U.S. generally accepted accounting principles (“GAAP”).

The non-GAAP measures used in this press release are EBITDA, EBITDA Margin, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Diluted EPS and Free Cash Flow.

EBITDA represents net income (loss) before interest expense, provision (benefit) for income taxes, depreciation, and amortization. EBITDA Margin represents EBITDA as a percentage of net sales for each period. Adjusted EBITDA represents EBITDA before stock-based compensation expense, loss on extinguishment of debt, restructuring and impairment costs. Adjusted EBITDA Margin represents Adjusted EBITDA as a percentage of net sales for each period. Adjusted Net Income (Loss) and Adjusted Diluted EPS represent net income (loss) before the aforementioned Adjusted EBITDA addback items and acquisition related amortization of intangible assets, which do not reflect our core operating performance. Free Cash Flow represents net cash provided by, or used in, operating activities, less cash flows used in the purchase of property, plant and equipment. We present Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted Diluted EPS and Free Cash Flow as management uses these measures as key performance indicators, and we believe they are measures frequently used by securities analysts, investors and other parties to evaluate companies in our industry. These metrics are supplemental measures of our operating performance that are neither required by, nor presented in accordance with, GAAP. These measures should not be considered as an alternative to net income (loss) or cash flow provided by, or used in, operating activities, or any other performance measure derived in accordance with GAAP as an indicator of our operating performance. These measures may not be comparable to the similarly named measures reported by other companies and have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP.

Please reference our reconciliation of net income (loss), the most directly comparable measure calculated in accordance with GAAP, to EBITDA, Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Diluted EPS,

Free Cash Flow and the calculation of EBITDA Margin and Adjusted EBITDA Margin included in this press release.

Mayville Engineering Company, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except share amounts)

March 31,

December 31,

2026

2025

ASSETS

Cash and cash equivalents

2,066

1,502

Receivables, net of allowances for doubtful accounts of $590 at March 31, 2026

and $577 at December 31, 2025

68,138

57,551

Inventories, net

66,024

59,398

Tooling in progress

5,374

4,746

Prepaid expenses and other current assets

5,684

5,217

Total current assets

147,286

128,414

Property, plant and equipment, net

149,789

149,996

Assets held for sale

3,082

1,402

Goodwill

140,246

Intangible assets, net

108,150

111,280

Operating lease assets

27,734

30,473

Other long-term assets

1,785

1,829

Total assets

578,072

563,640

LIABILITIES AND SHAREHOLDERS’ EQUITY

Accounts payable

62,816

52,377

Current portion of operating lease obligation

6,842

6,729

Accrued liabilities:

Salaries, wages, and payroll taxes

5,939

2,753

Bonuses and deferred compensation

2,327

2,170

Other current liabilities

11,822

10,740

Total current liabilities

89,746

74,769

Bank revolving credit notes

212,392

202,525

Operating lease obligation, less current maturities

23,785

25,572

Deferred compensation, less current portion

4,801

5,240

Deferred income tax liability

7,990

11,298

Other long-term liabilities

7,172

3,499

Total liabilities

345,886

322,903

Commitments and contingencies

Common shares, no par value, 75,000,000 authorized, 22,602,432 shares issued at

March 31, 2026 and 22,505,704 at December 31, 2025

—

Additional paid-in-capital

208,401

208,777

Retained earnings

43,801

51,976

Treasury shares at cost, 2,187,334 shares at March 31, 2026 and December 31, 2025

(20,016)

Total shareholders’ equity

232,186

240,737

Total liabilities and shareholders' equity

578,072

563,640

Mayville Engineering Company, Inc.

Condensed Consolidated Statements of Net Income (Loss)

(in thousands, except share amounts and per share data)

Three Months Ended

March 31,

2026

2025

Net sales

144,780

135,579

Cost of sales

133,819

120,255

Amortization of intangible assets

3,130

1,733

Bonuses and deferred compensation

4,804

3,325

Other selling, general and administrative expenses

9,171

8,689

Impairment of long-lived assets

1,544

—

Income (loss) from operations

(7,688)

1,577

Interest expense

(3,661)

(1,567)

Loss on extinguishment of debt

(134)

—

Income (loss) before taxes

(11,483)

Income tax expense (benefit)

(3,308)

(10)

Net income (loss) and comprehensive income (loss)

(8,175)

Earnings (loss) per share:

Basic

(0.40)

0.00

Diluted

(0.40)

0.00

Weighted average shares outstanding:

Basic

20,445,112

20,520,696

Diluted

20,445,112

20,750,938

Mayville Engineering Company, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

Three Months Ended

March 31,

2026

2025

CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss)

(8,175)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

—

Depreciation

7,820

7,750

Amortization

3,130

1,733

Allowance for doubtful accounts

Inventory excess and obsolescence reserve

106

(164)

Stock-based compensation expense

795

1,101

Gain on disposal of property, plant and equipment

(4)

(3)

Impairment of long-lived assets

1,544

—

Deferred compensation

(1,024)

275

Loss on extinguishment of debt

134

—

Non-cash lease expense

1,624

1,318

Other non-cash adjustments

300

Changes in operating assets and liabilities:

Accounts receivable

(10,601)

(8,167)

Inventories

(6,732)

(914)

Tooling in progress

(628)

329

Prepaids and other current assets

(366)

(186)

Accounts payable

10,185

10,444

Deferred income taxes

(3,308)

(538)

Operating lease obligations

(1,727)

(1,303)

Accrued liabilities

4,158

(3,454)

Net cash provided by (used in) operating activities

(2,756)

8,333

CASH FLOWS FROM INVESTING ACTIVITIES

Purchases of property, plant and equipment

(4,184)

(2,962)

Proceeds from sale of property, plant and equipment

Net cash used in investing activities

(4,179)

(2,959)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from bank revolving credit notes

480,731

282,113

Payments on bank revolving credit notes

(470,863)

(284,359)

Payments of financing costs

(398)

—

Shares withheld for employees' taxes

(1,171)

(1,170)

Purchase of treasury stock

—

(1,747)

Payments on finance leases

(800)

(234)

Net cash provided by (used in) financing activities

7,499

(5,397)

Net increase (decrease) in cash and cash equivalents

564

(23)

Cash and cash equivalents at beginning of period

1,502

206

Cash and cash equivalents at end of period

2,066

183

Mayville Engineering Company, Inc.

Reconciliation of Net Income (Loss) to EBITDA and Adjusted EBITDA

(in thousands)

Three Months Ended

March 31,

2026

2025

Net income (loss) and comprehensive income (loss)

(8,175)

Interest expense

3,661

1,567

Provision (benefit) for income taxes

(3,308)

(10)

Depreciation and amortization

10,950

9,483

EBITDA

3,128

11,060

Stock-based compensation expense

795

1,101

Loss on extinguishment of debt

134

—

Restructuring and impairment

2,416

—

Adjusted EBITDA

6,473

12,161

Net sales

144,780

135,579

EBITDA Margin

2.2

8.2

Adjusted EBITDA Margin

4.5

9.0

Mayville Engineering Company, Inc.

Reconciliation of Net Income (Loss) and Diluted EPS to Adjusted Net Income and Diluted EPS

(in thousands, except share amounts and per share data)

Three Months Ended

March 31,

2026

2025

Earnings

Diluted EPS

Earnings

Diluted EPS

Net income (loss) and comprehensive income (loss)

(8,175)

(0.40)

0.00

Stock-based compensation expense

795

0.04

1,101

0.05

Loss on extinguishment of debt

134

0.01

—

Restructuring and impairment

2,416

0.12

—

Acquisition related amortization of intangible assets

3,130

0.15

1,733

0.08

Tax effect of above adjustments

(1,431)

(0.07)

(562)

(0.03)

Adjusted net income (loss) and comprehensive income (loss)

(3,131)

(0.15)

2,292

0.10

Mayville Engineering Company, Inc.

Reconciliation of Free Cash Flow

(in thousands)

Three Months Ended

March 31,

2026

2025

Net cash provided by (used in) operating activities

(2,756)

8,333

Less: Capital expenditures

4,184

2,962

Free cash flow

(6,940)

5,371

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XML — IDEA: XBRL DOCUMENT

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Filename: R1.htm · Sequence: 8

v3.26.1

Document and Entity Information

May 05, 2026

Document and Entity Information [Abstract]

Amendment Flag

false

Entity Central Index Key

0001766368

Document Type

8-K

Document Period End Date

May 05, 2026

Entity Registrant Name

Mayville Engineering Company, Inc.

Entity Incorporation, State or Country Code

Entity File Number

001-38894

Entity Tax Identification Number

39-0944729

Entity Address, Address Line One

135 S. 84th Street, Suite 300

Entity Address, City or Town

Milwaukee

Entity Address State Or Province

Entity Address, Postal Zip Code

53214

City Area Code

(414)

Local Phone Number

381-2860

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock, no par value

Trading Symbol

MEC

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

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Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

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- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

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Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

dei_Security12bTitle

Namespace Prefix:

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Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

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dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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