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MISTRAS Group Inc. (NYSE: MG) is a global leader in providing technology-enabled asset protection solutions. The company specializes in assessing the structural integrity and reliability of critical energy, industrial, and public infrastructure. MISTRAS operates through three primary segments: North America, International, and Products and Systems, with North America being the main revenue driver.
MISTRAS offers a comprehensive suite of services including 24/7 online monitoring, mechanical integrity (MI) and non-destructive testing (NDT) services, destructive testing (DT) services, process and fixed asset engineering, consulting services, and enterprise inspection data management and analysis software (PCMS™). These services help extend asset life, improve productivity and profitability, ensure compliance with safety and environmental regulations, and enhance risk management.
With a strong commitment to Environmental, Social, and Governance (ESG) initiatives, MISTRAS supports industries such as oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing. The company’s expertise in asset protection is backed by innovative, data-driven technologies and a legacy of industry leadership.
Recent achievements include the successful implementation of Project Phoenix, which aims to increase operational efficiency and profitability through cost reductions and strategic pricing improvements. This initiative is expected to bring significant financial benefits in 2024, reinforcing the company's commitment to sustainable growth and shareholder value.
For more information about MISTRAS Group and its services, visit the official website at MISTRAS Group.
MISTRAS Group (NYSE: MG) has appointed Hani Hammad as Chief Operating Officer (COO), effective January 1, 2025. Hammad, who will continue serving as Executive Vice President, will report to recently hired CEO Natalia Shuman. In his role, Hammad will focus on driving operational excellence, strategic growth, and innovation while overseeing services and data analytics solutions.
Hammad previously served as Chief Transformation Officer and was key in implementing the Project Phoenix EBITDA Improvement Program, which identified over $47M in annual run rate EBITDA improvement opportunities. His background includes experience at AlixPartners, where he specialized in operational and financial transformations.
MISTRAS Group (NYSE: MG) has appointed Natalia Shuman as President and CEO, effective January 1, 2025. Shuman brings over 20 years of leadership experience in the Testing, Inspection, and Certification (TIC) industry, most recently serving as Group Executive VP at Eurofins Scientific, where she led 12,000+ employees.
She succeeds Manuel Stamatakis, who will continue as Executive Chairman after serving as Interim CEO since October 2023. At Eurofins, Shuman drove growth strategies and operational excellence. Previously, as North American CEO for Bureau Veritas, she managed 7,000 employees across 130 offices, leading significant growth and transformation initiatives. She holds an MBA from Columbia and London Business Schools.
MISTRAS Group (MG) reported Q3 2024 financial results with revenue growing 1.9% to $182.7 million. The company achieved net income of $6.4 million, or $0.20 per diluted share, and Adjusted EBITDA increased 11.5% to $23.3 million. International segment showed strong performance with 8.7% growth. The company revised its 2024 guidance, now expecting revenue between $725-730 million and Adjusted EBITDA between $80-82 million. Operating cash flow was $19.4 million with $13.2 million in free cash flow for Q3, while gross debt decreased to $189.7 million, its lowest level since December 2018.
MISTRAS Group (NYSE: MG) has scheduled a conference call for Thursday, October 31, 2024, at 9:00 am Eastern Time to discuss its third quarter 2024 results. The company will release its Q3 results after market close on Wednesday, October 30, 2024. Interested participants can access the live webcast through the Investor Relations section of MISTRAS Group's website and can pre-register for the Q&A session through the provided link. An archived version of the webcast will be available for one year on the company's website.
MISTRAS Group (NYSE: MG) reported strong financial results for Q2 2024 and H1 2024. Key highlights include:
- Q2 revenue up 7.8% to $189.8 million
- Q2 gross profit increased 12.9% to $56.1 million
- Q2 net income of $6.4 million, EPS of $0.20
- Q2 Adjusted EBITDA up 44.6% to $22.1 million
- H1 revenue up 8.8% to $374.2 million
- H1 net income of $7.4 million, EPS of $0.23
- H1 Adjusted EBITDA up 48.8% to $38.3 million
The company reaffirmed its 2024 outlook, projecting revenue between $725-$750 million and Adjusted EBITDA between $84-$89 million. Growth was driven by increases across all industries, particularly in Aerospace and Defense.
MISTRAS Group, Inc. (NYSE: MG) has scheduled a conference call for Thursday, August 1, 2024, at 9:00 am Eastern Time to discuss its second quarter 2024 results. The company will release its Q2 results after market close on Wednesday, July 31, 2024. Investors can access the live webcast through the Investor Relations section of MISTRAS Group's website. For those wishing to participate in the live Q&A session, pre-registration is available via a provided link. An archived webcast of the call will be accessible for one year following the conference call on the company's website.
MISTRAS Group, Inc. (MG: NYSE) will be participating in the Sidoti Micro-Cap Virtual Investor Conference on May 8-9, 2024. The company's Chairman of the Board and Interim President, along with the CFO, will be presenting at the event. The webcast will begin at 10:00 AM ET on May 9, 2024. Investors can register for the event and access the chat at the provided link. One-on-one meetings with management will also be available throughout the conference.
MISTRAS Group, Inc. announced its first quarter 2024 results, highlighting a revenue increase of 9.8% to $184.4 million, net income improvement to $1.0 million, and adjusted EBITDA growth of 55.1%. The company continues to execute its strategic initiatives, with strong performance in Aerospace and Defense, and aims for an all-time high performance year in 2024.
MISTRAS Group Announces Conference Call to Discuss First Quarter Results on May 2, 2024
MISTRAS Group, Inc. (MG: NYSE) has scheduled a conference call for Thursday, May 2, 2024 at 9:00 am Eastern Time to discuss its results for the first quarter of 2024. A press release with the first quarter results will be issued after the close of market on Wednesday, May 1, 2024. To listen to the live webcast of the conference call, visit the Investor Relations section of MISTRAS Group’s website at www.mistrasgroup.com. Individuals wishing to participate in the live question and answer session may pre-register at: https://register.vevent.com/register/BIebdf48d69cb04674a4848bcd372409be. Following the conference call, an archived webcast of the call will be available for one year by visiting the Investor Relations section of MISTRAS Group’s website.
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