Mayville Engineering Co Inc

Mayville Engineering raised its full-year sales outlook to a range of $620 million to $650 million after second-quarter revenue rose 23.2% year over year to $163 million, including 9.2% organic growth. The company maintained its adjusted EBITDA guidance of $52 million to $60 million but lowered its free-cash-flow forecast to $7 million to $15 million, citing planned investments in data center and critical power programs. Data center and critical power organic revenue surged approximately 173%, with more than $125 million in qualified opportunities and about $40 million in new awards, though launch and outsourcing costs pressured margins. MEC completed a $94 million stock offering to reduce debt and plans roughly $40 million in incremental capital expenditures plus $10 million in leased equipment over the next two years.

Mayville Engineering Company shares rallied approximately 109% during the second quarter of 2026, making it the largest contributor to the Riverwater Micro Opportunities Strategy portfolio. The Wisconsin-based metal fabrication and manufacturing solutions provider benefited as its trucking, agriculture, and military end markets began to inflect, while investors rediscovered domestic manufacturing capacity as a scarce asset and management moved into data center rack fabrication. Riverwater trimmed the position in stages during the quarter, consistent with its sizing discipline for names that have run sharply. The stock closed at $30.41 on July 23, 2026, with a market capitalization of $775.27 million, and has gained 88.88% over the past 52 weeks despite a one-month decline of 17.81%. Total sales rose 6.8% year over year to $144.8 million in the first quarter of 2026.