Mayville Engineering Company Inc（MEC）のニュースとイベントMECMayville Engineering Company Inc

Mayville Engineering Acquires Georgia Facility to Expand Manufacturing Capacity

Mayville Engineering announced an expansion of its Southeastern U.S. manufacturing footprint through the acquisition of a 138,000 square foot finishing facility in Thomson, Georgia. The transaction closed on October 1. The company expects to invest in phases a total of $25M-$30M in the location, which includes the purchase price, facility improvements and production equipment through 2028. The planned investment will support growing demand in the Datacenter & Critical Power end market and, when fully deployed, is expected to add approximately $50M of annual revenue capacity by 2028. The facility is located near Augusta, Georgia, within the Southeastern corridor where several of MEC's current and potential Datacenter & Critical Power customers are concentrated. Acquiring and converting an established industrial site allows MEC to bring capacity online on a faster timeline and at lower cost than a greenfield alternative. The project is expected to meet the Company's return threshold of an internal rate of return of at least 15%. The investment is funded with available liquidity due in part to its previous equity financing transaction. The acquisition is not expected to have a material impact on the company's 2026 net sales, Adjusted EBITDA or Free Cash Flow. Revenue and earnings contribution is expected to begin in 2027 and build as fabrication capabilities are commissioned and customer programs ramp.

Mayville Sees FY26 Adjusted EBITDA of $52M-$60M

Sees FY26 adjusted EBITDA of $52M-$60M. "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 continued improvement in several key legacy end markets. Guidance also incorporates launch and outsourcing costs associated with awarded Datacenter & Critical Power programs as they progress through their ramp-up phase. Free Cash Flow guidance reflects expected working capital efficiencies and planned capital expenditures of $25 million and $35 million," Mayville stated.

MEC Reports Q2 Revenue of $163M, Exceeds Expectations

Reports Q2 revenue $163.0M, consensus $150.59M. "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. 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. 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. 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 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," said Jag Reddy, President and Chief Executive Officer.