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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.

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.

News

MISTRAS Group Appoints New Chief Transformation Officer to Advance Business Transformation

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MISTRAS Group, Inc. appoints Hani Hammad as Executive Vice President and Chief Transformation Officer, signaling a strategic move in the company's business transformation journey. Mr. Hammad's proven track record of value creation through the Project Phoenix EBITDA Improvement Program has identified over $47M in annual run rate EBITDA improvement opportunities. With a background in operational and financial transformations in the energy sector, Mr. Hammad is set to lead transformative changes at MISTRAS Group, ensuring sustainable value for shareholders.
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MISTRAS Group to Participate in Sidoti Virtual Investor Conference on March 13-14, 2024

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MISTRAS Group, Inc. announces that Manuel N. Stamatakis and Edward Prajzner will present at the Sidoti Virtual Investor Conference on March 13, 2024. The company is a leading provider of asset protection solutions for critical infrastructure.
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MISTRAS Announces Fourth Quarter and Full Year 2023 Results

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MISTRAS Group, Inc. (MG: NYSE) reported a Q4 2023 revenue of $182.1 million, up 8.2%, with a net loss of $2.5 million. Adjusted EBITDA was $19.2 million, up 22.0%. Full Year 2023 saw revenue of $705.5 million, up 2.6%, with a net loss of $17.5 million. The company anticipates revenue between $725-$750 million and Adjusted EBITDA between $84-$89 million for 2024.
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MISTRAS Group Announces Conference Call To Discuss Fourth Quarter And 2023 Year-End Results On March 7, 2024

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MISTRAS Group, Inc. (MG: NYSE) will hold a conference call on March 7, 2024, to discuss its fourth-quarter and fiscal year 2023 results. The webcast will be available on their website, with a live Q&A session. An archived webcast will be accessible for a year post the call.
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MISTRAS Group to Participate in Sidoti Micro-Cap Virtual Investor Conference on January 17-18, 2024

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MISTRAS Group, Inc. (MG: NYSE) announced that Edward J. Prajzner, Senior Executive Vice President and CFO, will be participating in the Sidoti Micro-Cap Virtual Investor Conference on January 18, 2024, at 10:45 AM ET.
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MISTRAS Group to Participate in Sidoti Micro Cap Virtual Conference on November 15-16, 2023

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MISTRAS Group, Inc. (MG: NYSE) announces Edward Prajzner, Senior Executive Vice President and CFO, will present at the Sidoti Micro Cap Virtual Conference on November 16, 2023, at 10:45 AM ET. The company provides technology-enabled asset protection solutions for critical energy, industrial, and public infrastructure. To attend the presentation and register for one-on-one meetings, visit the provided links.
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MISTRAS Provides Update on Project Phoenix

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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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MISTRAS Announces Third Quarter 2023 Results

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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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MISTRAS Group Announces Conference Call to Discuss Third Quarter Results on November 3, 2023

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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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MISTRAS Group Announces Grant of Stock Options Following Appointment of New Interim President and CEO

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MISTRAS Group, Inc. grants stock options to new Chairman of the Board and Interim President and CEO, Manuel N. Stamatakis.
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FAQ

What is the current stock price of Mistras Group (MG)?

The current stock price of Mistras Group (MG) is $8.88 as of December 20, 2024.

What is the market cap of Mistras Group (MG)?

The market cap of Mistras Group (MG) is approximately 275.5M.

What does MISTRAS Group Inc. specialize in?

MISTRAS Group specializes in technology-enabled asset protection solutions to evaluate the structural integrity of critical energy, industrial, and public infrastructure.

What are the main segments of MISTRAS Group?

MISTRAS operates through three primary segments: North America, International, and Products and Systems, with North America being the main revenue driver.

What services does MISTRAS Group offer?

MISTRAS provides services such as 24/7 online monitoring, mechanical integrity (MI) and non-destructive testing (NDT), destructive testing (DT), engineering and consulting services, and enterprise inspection data management and analysis software (PCMS™).

Which industries does MISTRAS Group serve?

MISTRAS serves industries including oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing.

What is Project Phoenix?

Project Phoenix is a strategic initiative by MISTRAS to enhance operational efficiency and profitability through cost reductions and strategic pricing improvements. It is expected to significantly benefit the company's financial performance in 2024.

How does MISTRAS Group contribute to ESG initiatives?

MISTRAS is committed to Environmental, Social, and Governance (ESG) initiatives by providing services that help extend asset life, improve safety, and ensure compliance with environmental regulations.

Where can I find more information about MISTRAS Group Inc.?

You can find more information about MISTRAS Group on their official website at https://www.mistrasgroup.com/.

What recent achievements has MISTRAS Group made?

Recent achievements include the implementation of Project Phoenix, which aims to improve efficiency and profitability. The company has also seen strong financial performance and growth in key industries like aerospace and defense.

What is the significance of MISTRAS Group’s North America segment?

The North America segment is the main revenue driver for MISTRAS Group, providing a majority of the company's asset protection solutions and services.

How does MISTRAS Group help in risk management?

MISTRAS helps in risk management by providing comprehensive asset protection solutions that enhance decision-making, ensure compliance with safety standards, and extend the life of critical infrastructure assets.

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Mistras Group Inc.

NYSE:MG

MG Rankings

#3606 Ranked by Market Cap
N/A Ranked by Dividends

MG Stock Data

275.53M
18.35M
35.8%
51.25%
0.59%
Security & Protection Services
Services-engineering Services
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United States of America
PRINCETON JUNCTION