---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-012744"
form_type: "8-K"
ticker: "MEC"
cik: "0001766368"
company_name: "Mayville Engineering Company, Inc."
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T18:41:42.783695+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mayville Engineering Q2 net income drops 73% to $1.6M; raises FY 2023 guidance

## Summary
- Net sales $139.0M (+0.5% y/y); net income $1.6M ($0.08 diluted EPS) vs $5.9M ($0.29) prior year.
- Adjusted EBITDA $15.3M (11.0% margin), including $1.4M loss from Hazel Park ramp-up; prior year $18.2M (13.1%).
- Raises FY 2023 guidance: net sales $580-610M, Adjusted EBITDA $66-71M; expects H2 margin expansion.
- Closed acquisition of Mid-States Aluminum for $96M on July 1; anticipates $30-35M sales, $4-6M EBITDA contribution in H2.
- Net debt $89.7M, net leverage 1.61x; free cash flow guidance $25-35M for remainder of 2023.

## SEC filing metadata
- accession: 0001558370-23-012744
- form_type: 8-K
- ticker: MEC
- cik: 0001766368
- company_name: Mayville Engineering Company, Inc.
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1766368/000155837023012744/0001558370-23-012744-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1766368/000155837023012744/tmb-20230801x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-012744
- JSON: https://secwatch.observer/filing/0001558370-23-012744.json
- Plain text: https://secwatch.observer/filing/0001558370-23-012744.txt

## Key facts
- Earnings Releases
  Mayville Engineering Company, Inc. reported the three months ended June 30, 2023 results: revenue $139.0 million, net income $1.6 million, EPS $0.08 per diluted share. Guidance raised.
  - Period: the three months ended June 30, 2023
  - Revenue: $139.0 million
  - Net income: $1.6 million
  - EPS: $0.08 per diluted share
  - Guidance: raised
  - Result: reported results
  source text: diverse end-markets, today announced results for the three months ended June 30, 2023. SECOND QUARTER 2023 RESULTS (All comparisons versus the prior-year period) ● Net sales of $139.0 million, or +0.5% y/y ● Net income of $1.6 million, or $0.08 per diluted share ● Non-GAAP Adjusted Diluted EPS of $0.20 ● Adjusted EBITDA of $15.3 million, including a $1.4 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766368/000155837023012744/0001558370-23-012744-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.