Mistras Group Inc. - MG STOCK NEWS

MISTRAS Group, Inc. (MG: NYSE) reported strong financial results for Q4 2022 and the full year. Q4 revenue reached $168.2 million, with gross profit rising 2.7% to $50.9 million. Operating income surged 152% to $5.8 million, while net income hit $2.8 million, marking a significant increase. For the full year, net income grew 68% to $6.5 million, and revenue totaled $687.4 million, a 1.5% increase. The company continued debt reduction, repaying $11 million in 2022. Looking ahead, MISTRAS expects revenue of $710 to $740 million in 2023, driven by stable energy markets and growing demand in aerospace and data solutions.

MISTRAS Group, Inc. (MG: NYSE) will hold a conference call on March 9, 2023, at 9:00 AM ET to discuss its fourth quarter and fiscal year results for 2022. A press release detailing these results will be available after market close on March 8, 2023. The call can be accessed via the investor relations section of MISTRAS's website. Interested parties can pre-register for the live Q&A session to receive a dial-in number and PIN. MISTRAS is recognized as a key provider of integrated asset protection solutions across various industries, focusing on safety and operational excellence.

MISTRAS Group, Inc. (MG: NYSE) announced the immediate departure of Senior Executive Vice President and COO Jonathan Wolk. Dennis Bertolotti, the company’s President and CEO, will take over Wolk's responsibilities temporarily. The Board also revealed a partnership with AlixPartners to conduct an operational review aimed at enhancing profitable growth and EBITDA. Dr. Sotirios J. Vahaviolos, Executive Chairman, emphasized that this collaboration is expected to reveal margin improvement opportunities and sustained cost savings. The company's focus is on driving shareholder value, ensuring a robust strategy for future growth.

MISTRAS Group, Inc. (NYSE: MG) announces a live management fireside chat at the Sidoti Micro-Cap Virtual Investor Conference on November 9, 2022, at 11:30 AM ET. Hosted by CEO Dennis Bertolotti and CFO Edward Prajzner, the chat will cover MISTRAS' innovative asset protection solutions, including OneSuite™ and Sensoria™. Registrations for the chat and one-on-one meetings are free, not requiring Sidoti client status. The company focuses on maximizing uptime and safety across various industries, including energy and civil infrastructure.

MISTRAS Group (MG) reported a 2.2% revenue growth in Q3 2022, totaling $178.5 million, driven by a strong performance in the Services segment and a 27% rise in Aerospace & Defense revenue. Gross profit increased to $53.8 million, with a margin of 30.1%. Net income reached $4.4 million or $0.14 per diluted share, reflecting a 29.4% increase. The company successfully refinanced its debt, enhancing liquidity and flexibility. However, international revenues fell 11.7% and inflationary pressures impacted profit margins. MISTRAS is updating its full-year revenue outlook to $683-$693 million.

MISTRAS Group, Inc. (NYSE:MG) will hold a conference call on November 3, 2022, at 9:00 am ET to discuss its third-quarter results. A corresponding press release will be issued after market close on November 2, providing insights into the company’s financial performance. Investors can access the call via the Investor Relations section of the MISTRAS website, where a live Q&A session will be available for registered participants. MISTRAS Group specializes in asset protection solutions across various industries, including oil and gas, aerospace, and manufacturing.

MISTRAS Group, Inc. (MG: NYSE) announced its participation in The Windy City Roundup Investor Conference on October 12-13, 2022, at Swissôtel, Chicago. CEO Dennis Bertolotti and CFO Edward Prajzner will present on October 12 at 4:30 PM EDT, discussing MISTRAS’ innovative solutions like OneSuite™ and Sensoria™ for asset protection in critical sectors. The company aims to enhance uptime and safety across energy and industrial infrastructure. Interested attendees can register via the provided link.

MISTRAS Group, Inc. (MG: NYSE) announced a presentation by CEO Dennis Bertolotti and CFO Edward Prajzner at the Sidoti Virtual Investor Conference on September 21-22, 2022. The live fireside chat is scheduled for 10:45 AM EDT on September 22, with a link for streaming available online. The discussion will highlight MISTRAS' latest offerings including OneSuite™ and Sensoria™. One-on-one meetings will also be available during the conference. For participation, registration is free at the Sidoti website.

Sensoria by MISTRAS Group has announced a collaboration with Bladena to enhance offshore wind blade integrity and uptime. This partnership aims to tackle the increased failure rates of larger offshore blades with innovative monitoring technology and retrofit solutions. By minimizing manual inspections and extending blade operational lifetimes, the collaboration seeks to reduce wind energy costs and enhance turbine efficiency. This approach is expected to lower operational expenditures and improve annual energy production for wind energy operators.