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Mistras Group, Inc. - $MG STOCK NEWS

Welcome to our dedicated page for Mistras Group news (Ticker: $MG), a resource for investors and traders seeking the latest updates and insights on Mistras Group stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Mistras Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Mistras Group's position in the market.

Rhea-AI Summary
MISTRAS Group, Inc. provides an update on Project Phoenix, a strategic program aimed at increasing Income from Operations. The company has completed the validation of a majority of the initial Project Phoenix opportunities, including the transformation of the Products and Systems segment. They have implemented initiatives to address inflationary costs and reduce overhead expenses. The actions completed are expected to yield annualized projected 2024 cost savings of approximately $12 million. The company also plans to implement strategic price increases to improve revenue. The goal is to improve Income from Operations in 2024 by approximately $30 million.
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End-of-Day
11.65%
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Rhea-AI Summary
MISTRAS Group, Inc. reported a 0.5% increase in revenue to $179.4 million for the third quarter of 2023. Gross profit margin improved to 30.3%. Selling, general and administrative expenses decreased by 3.0% to $39.5 million. The company recorded a net loss of $10.3 million, primarily due to a non-cash impairment charge of $13.8 million. Adjusted EBITDA increased by 12.5% to $20.9 million.
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Rhea-AI Sentiment
End-of-Day
11.65%
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Rhea-AI Summary
MISTRAS Group, Inc. has scheduled a conference call to discuss its Q3 2023 results. The call will take place on November 3, 2023, at 9:00 am Eastern Time. The third quarter results will be released on November 2, 2023. A live webcast and an archived webcast will be available on MISTRAS Group's website.
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Rhea-AI Summary
MISTRAS Group, Inc. grants stock options to new Chairman of the Board and Interim President and CEO, Manuel N. Stamatakis.
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-0.58%
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management
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Rhea-AI Summary
MISTRAS Group announces key leadership transitions
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-3.41%
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management
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Rhea-AI Summary
MISTRAS Group implements Project Phoenix initiative to increase Adjusted EBITDA by $4.0 million in Fiscal 2024. Gennaro D'Alterio appointed as EVP and CCO to accelerate revenue growth strategies.
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-7.52%
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management
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2.42%
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Rhea-AI Summary
MISTRAS Group, Inc. reported strong revenue growth in key markets, with revenue of $176.0 million in Q2 2023. Gross profit was $49.7 million, with a gross profit margin of 28.2%. The company achieved a significant increase in operating cash flow of 134.6% for the first half of 2023, reaching $18.3 million.
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-20.93%
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-0.94%
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Mistras Group, Inc.

NYSE:MG

MG Rankings

MG Stock Data

264.77M
19.73M
36%
51.08%
0.53%
Engineering Services
Professional, Scientific, and Technical Services
Link
United States of America
PRINCETON JUNCTION

About MG

mistras is a leading "one source"​ global provider of technology-enabled asset protection solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. mission critical services and solutions are delivered globally and provide customers with asset life extension, improved productivity and profitability, compliance with government safety and environmental regulations, and enhanced risk management operational decisions. mistras uniquely combines its industry-leading products and technologies - 24/7 on-line monitoring of critical assets; mechanical integrity (mi) and non-destructive testing (ndt) services; destructive testing (dt) services; process and fixed asset engineering and consulting services; and its world class enterprise inspection data management and analysis software (pcms™) to provide comprehensive and competitive products, systems and services solutions from a single source provider.