Mayville Engineering Q3 revenue beats on Datacenter & Critical Power demand
Overview
US manufacturing solutions provider's Q3 revenue rose 18% yr/yr, beating analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Growth driven by Datacenter & Critical Power and Commercial Vehicle demand
Outlook
Company raises 2026 net sales guidance to $630 mln-$640 mln from prior $620 mln-$630 mln
Company sees 2026 adjusted EBITDA of $48 mln-$52 mln
Result Drivers
END MARKET DEMAND - Higher volumes in Datacenter & Critical Power, Commercial Vehicle, Construction & Access and Other end markets drove sales growth, while Powersports and Agriculture demand declined
CAPACITY UTILIZATION - Improved capacity utilization contributed to higher margins, though project launch costs in Datacenter & Critical Power continued to be absorbed
COST SAVINGS - Lower selling, general and administrative expenses reflected reduced acquisition-related costs and realized Accu-Fab synergies
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $170.40 mln | $165.08 mln (5 Analysts) |
Q3 Adjusted EPS | Beat | $0.15 | $0.08 (4 Analysts) |
Q3 EPS | $0.02 | ||
Q3 Net Income | $0.4 mln | ||
Q3 Adjusted EBITDA | Slight Beat* | $17 mln | $16.84 mln (5 Analysts) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Mayville Engineering Company Inc is $37.00, about 134.6% above its November 2 closing price of $15.77
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 38 three months ago
Reuters Recommended Reads
Nov 2 - Commercial Vehicle Group Q3 revenue rises 36.5% on increased customer demand
Nov 3 - Regal Rexnord Q3 sales beat estimates on data center demand
Nov 3 - AMETEK Q3 sales beat estimates, raises outlook
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)