Filing Flows › Mayville Engineering Company (MEC) › Q1 2025
Mayville Engineering Company (MEC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Mayville Engineering Company (MEC) reported revenue of $136M for the first quarter 2025 (Q1 2025), -16% from a year earlier and +12% from the quarter before. Operating margin was 1.2%, net earnings $20K (0.0% of revenue).
Mayville Engineering Company, Q1 2025: revenue $136M (-16% year over year), operating margin 1.2%, net earnings $20K, operating cash flow $8.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $136M | +12% | -16% |
| Operating profit | $1.6M | -93% | -79% |
| Net earnings | $20K | -100% | -99% |
| Operating cash flow | $8.3M | -78% | -22% |
| Free cash flow | $5.4M | — | -32% |
What changed
Revenue was $135.6M in Q1 2025, down 16% year over year and up 12% from the previous quarter.
Operating profit was $1.6M, a 1.2% margin (down 3.6 points year over year). Total costs fell 13% while revenue fell 16%. Net earnings were $20K, down 99% year over year. The effective tax rate was -100.0%.
Operating cash flow was $8.3M (down 22% year over year), 41665% of net earnings. Non-cash charges added back $9.5M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $2.3M. After capital expenditures ($3.0M), free cash flow as the company reports it was $5.4M.
Questions
What was Mayville Engineering Company's revenue in the first quarter 2025?
Mayville Engineering Company (MEC) reported revenue of $136M for the first quarter 2025 (Q1 2025), -16% from a year earlier and +12% from the quarter before.
Was Mayville Engineering Company profitable in the first quarter 2025?
Operating profit was $1.6M (1.2% of revenue) and net earnings $20K.