MEC

EX-99.1

2 tmb-20260804xex99d1.htm

EX-99.1

Exhibit 99.1

MAYVILLE ENGINEERING COMPANY ANNOUNCES

SECOND QUARTER 2026 RESULTS

MILWAUKEE, Wis., August 4, 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 June 30, 2026.

SECOND QUARTER 2026 RESULTS

(All comparisons versus the prior-year period)

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●Net sales of $163.0 million, or +23.2% y/y; organic net sales increased +9.2% y/y

●Net loss of $2.1 million, or ($0.09) per diluted share; Non-GAAP Adjusted Diluted EPS of $0.07

●Adjusted EBITDA of $13.2 million

●Adjusted EBITDA margin of 8.1% of net sales

●Quarterly Free Cash Flow of ($6.6) million

●Ratio of net debt to trailing twelve-month Adjusted EBITDA of 2.9x1 as of June 30, 2026

●Secured $40 million in Datacenter & Critical Power project awards

1 Trailing twelve-month Adjusted EBITDA is calculated per the Company’s current Credit Agreement

MANAGEMENT COMMENTARY

“Our second quarter results reflect stronger-than-expected order activity within our Commercial Vehicle end market and continued momentum across our Datacenter & Critical Power end market," said Jag Reddy, President and Chief Executive Officer. "Our execution remained strong as we continued to invest in resources and equipment necessary to support the accelerating customer demand. As volumes increased, margins improved through better capacity utilization, though we continued to absorb project launch costs associated with the ramp up of new Datacenter & Critical Power programs. At the same time, we are making selective decisions to prioritize capacity for higher-value, higher-margin programs that support long-term profitable growth."

"During the quarter, we secured approximately $40 million of new Datacenter & Critical Power project awards as customer demand remained robust," Reddy continued. "Our qualified opportunity pipeline continues to exceed $125 million, supported by strong customer quoting activity. Within our Commercial Vehicle end market, demand trends improved during the quarter, and we expect continued recovery through the remainder of the year, complemented by steady activity in our Construction & Access end market. Reflecting these favorable trends, we are raising our full-year 2026 net sales guidance by approximately 5%."

"We also completed a common stock offering during the quarter, generating approximately $94 million in net proceeds," Reddy concluded. "The proceeds were immediately used to reduce debt and strengthen our balance sheet, increasing our available liquidity to more than $100 million. Given the significant opportunities we continue to see across the Datacenter & Critical Power infrastructure market, we also intend to use a portion of the net proceeds from the offering to invest an incremental $50 million in organic growth initiatives across 2026

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and 2027 to expand capacity to support higher-value programs. These investments position MEC to deliver attractive, sustainable returns on invested capital as we capitalize on a multi-year secular growth opportunity."

PERFORMANCE SUMMARY

Net sales increased by 23.2% on a year-over-year basis in the second quarter of 2026, primarily due to organic growth in the Datacenter & Critical Power, Commercial Vehicle, and Construction & Access end markets and the impact of the Accu-Fab acquisition completed in the third quarter of 2025. These increases were partially offset by lower demand in the Powersports, Agriculture and Military end markets.

Manufacturing margin was $17.7 million in the second quarter of 2026, or 10.9% of net sales, versus $13.6 million, or 10.3% of net sales, in the prior year period. The year-over-year increase in manufacturing margin was primarily attributable to higher margin sales contribution from the Accu-Fab acquisition and improved capacity utilization as demand in several legacy end markets improved. This increase was partially offset by $2.1 million of project launch costs and higher costs associated with ongoing workforce expansion to support demand.

Bonuses and deferred compensation expense was $4.8 million in the second quarter of 2026 as compared to $1.5 million in the prior year period. Other selling, general and administrative expenses were $9.3 million in the second quarter of 2026 as compared to $10.3 million for the same prior year period. The decrease in other selling, general and administrative expenses primarily reflects non-recurring executive transition expenses and Accu-Fab acquisition-related costs in the prior year period, partially offset by incremental SG&A expenses associated with the acquisition.

Interest expense was $3.5 million in the second quarter of 2026, as compared to $1.4 million in the prior year period, due to increased average borrowings and interest rate under the Company’s revolving credit facility and the timing of debt

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Mayville Engineering Company, Inc._March 3, 2026 0001766368false00017663682026-03-032026-03-03 ​ ​

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): March 3, 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)

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☐ 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))

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☐ 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 March 3, 2026, Mayville Engineering Company, Inc. issued a press release announcing financial results for its three and twelve months ended December 31, 2025. 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. (c)Not applicable. (d)Exhibits. The exhibit listed in the exhibit index below is being furnished herewith.

EXHIBIT INDEX

Exhibit Number ​ ​ ​

99 ​ Press Release of Mayville Engineering Company, Inc., dated March 3, 2026 regarding financial results for its three and twelve months ended December 31, 2025.

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

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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: March 3, 2026 By: /s/ Rachele M. Lehr

​ ​ Rachele M. Lehr

​ ​ Chief Financial Officer

​ ​ ​