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MEC News
MEC Events
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.
Sees Q3 Adjusted EBITDA of $15.5M-$18.5M
Sees Q3 adjusted EBITDA of $15.5M-$18.5M.
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.
Major Averages Close Broadly Higher as Oil Prices Slip Below $100
The major averages closed broadly higher, cutting into this week's previous losses as oil prices slipped to below $100 per barrel. Semiconductor stocks rebounded after several sessions dominated by rising yields and inflation fears, with the market fully focused on tonight's highly anticipated Nvidia earnings report.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Targetreportedand reiterated its FY26 outlookLowe'sreportedand backed its FY26 guidanceTJXprovided areport for Q1Hasbroreportedand provided its outlook for FY26Intuitwill streamline operations, including laying off 17% of its staff,2. WALL STREET CALLS:Etsyto Buy from Neutral at AreteNorthlandXponential Fitnesson potential for near-term dealOppenheimerRubrikto Outperform on sector, product strengthPhreesiato Equal Weight at Wells FargoCignato Hold at Deutsche Bank3. AROUND THE WEB:Paramount Skydanceis aiming to finalize its takeover of Warner Bros. Discoveryas soon as July, NY Post reportsPepsiCoplans to increase to increase prices on some of its smaller bags of chips by 10c-20c, Bloomberg saysGoogleDeepMind has agreed to hire more than 20 researchers from AI startup Contextual AI and license its technology in a deal valued at approximately $100M, including the addition of co-founder and CEO Douwe Kiela to the DeepMind team, Bloomberg reportsIntelis asking its leading PC partners, including those in the U.S., China, and Taiwan, to use more 18A CPUs, citing better supply than chips on older nodes, Nikkei Asia saysNvidiahas committed $90B to dealmaking in the AI industry over the past 16 months, FT says4. MOVERS:Roivant Scienceshigher after, with EPS beating consensusImmunityBioincreases after the FDA accepted aMedlinefalls afterMayville Envineeringlower after announcing aGDS Holdingsand Kanzhundecline after5. EARNINGS/GUIDANCE:VF Corp., with EPS and revenue beating consensusAnalog Devices, with CEO Vincent Roche commenting, "ADI's second quarter revenue and earnings were above the high end of our outlook"James Hardie, with CEO James Hardie commenting, "We delivered Adjusted EBITDA above our guidance range in the fourth quarter, reflecting disciplined execution and the strength of our business model"Red Robinand reaffirmed guidance for FY26Cava Group, with EPS and revenue beating consensusINDEXES:The Dow rose 645.47, or 1.31%, to 50,009.35, the Nasdaq gained 399.65, or 1.54%, to 26,270.36, and the S&P 500 advanced 79.36, or 1.08%, to 7,432.97.
Major Averages Rise as Semiconductor Stocks Rebound
The major averages were broadly higher near noon, curtailing some of this week's previous losses as oil prices slip. Semiconductor stocks are rebounding ahead of results that many traders see as the next major test for the AI-driven market rally. Markets are attempting to stabilize after several sessions dominated by rising yields and inflation fears, with investors now fully focused on tonight's highly anticipated Nvidia earnings report.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Targetreportedand reiterated its FY26 outlookLowe'sreportedand backed its FY26 guidanceTJXprovided areport for Q1Hasbroreportedand provided its outlook for FY26Intuitwill streamline operations, including laying off 17% of its staff,2. WALL STREET CALLS:Etsyto Buy from Neutral at AreteNorthlandXponential Fitnesson potential for near-term dealOppenheimerRubrikto Outperform on sector, product strengthPhreesiato Equal Weight at Wells FargoCignato Hold at Deutsche Bank3. AROUND THE WEB:GoogleDeepMind has agreed to hire more than 20 researchers from AI startup Contextual AI and license its technology in a deal valued at approximately $100M, including the addition of co-founder and CEO Douwe Kiela to the DeepMind team, Bloomberg reportsIntelis asking its leading PC partners, including those in the U.S., China, and Taiwan, to use more 18A CPUs, citing better supply than chips on older nodes, Nikkei Asia saysApproximately 48,000 workers at Samsungare scheduled to begin an 18-day strike over bonus payments, posing a potential risk to South Korea's economy and global chip supply, Reuters reportsChina intends to purchase 200 Boeingjets and seek an extension of a trade truce with the U.S. set to expire in November, Bloomberg saysNvidiahas committed $90B to dealmaking in the AI industry over the past 16 months, FT says4. MOVERS:Roivant Scienceshigher after, with EPS beating consensusImmunityBioincreases after the FDA accepted aMedlinefalls after filing toMayville Envineeringlower after announcing aGDS Holdingsand Kanzhundecline after5. EARNINGS/GUIDANCE:VF Corp., with EPS and revenue beating consensusAnalog Devices, with CEO Vincent Roche commenting, "ADI's second quarter revenue and earnings were above the high end of our outlook"James Hardie, with CEO James Hardie commenting, "We delivered Adjusted EBITDA above our guidance range in the fourth quarter, reflecting disciplined execution and the strength of our business model"Red Robinand reaffirmed guidance for FY26Cava Group, with EPS and revenue beating consensusINDEXES:Near midday, the Dow was up 1.00%, or 495.27, to 49,859.15, the Nasdaq was up 1.29%, or 333.82, to 26,204.53, and the S&P 500 was up 0.93%, or 68.51, to 7,422.12.
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