MEC Q2 net sales $132.3M (-19% YoY); GAAP loss $1.1M; lowers FY2025 guidance

Mayville Engineering Company, Inc.

2025-Q2 EPS reported -$0.05 revenue$267,907,000

GAAP net loss $1.1M (-$0.05/share) vs prior yr net income $3.8M; adj EPS $0.10 vs $0.26.
Net sales $132.3M, down 19% YoY; declines across Commercial Vehicle, Construction, Powersports, Agriculture.
Ends $2.9M share repurchases; net debt/EBITDA 1.4x; completed Accu-Fab acquisition July 1.
FY2025 guidance cut: sales midpoint $545M (prior $575M), adj EBITDA midpoint $52M (prior $63M), FCF midpoint $28M (prior $47M).
Withdraws 2026 Investor Day revenue target of $1B due to market uncertainty.

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