Mistras Group Inc. - MG STOCK NEWS

MISTRAS Group, Inc. (MG) reported a robust second quarter 2021 with revenue surging 42.8% to $177.7 million and net income reaching $5.9 million, or $0.20 per diluted share. Adjusted EBITDA increased 96.5% to $22.6 million. The growth was driven by a strong rebound in the oil and gas market, while gross profit rose 34.4% to $55.3 million. The company managed to keep SG&A expenses flat despite significant revenue increases. MISTRAS anticipates continued revenue growth in the third quarter, contingent on stable macroeconomic conditions.

MISTRAS Group, Inc. (NYSE:MG) has announced a conference call scheduled for August 3, 2021, at 9:00 am ET to discuss its second-quarter results for 2021. A press release detailing these results will be released after market close on August 2, 2021. Investors can access the call via MISTRAS' website or by phone using specific access codes. MISTRAS is known for its integrated asset protection solutions across various industries, including oil and gas and aerospace, driven by innovative technologies and data solutions.

MISTRAS Group (MG: NYSE) announced that CEO Dennis Bertolotti and CFO Edward Prajzner will participate in investor meetings and a fireside chat at the Sidoti Virtual Investor Conference on June 23, 2021, at 1:45 PM ET. A live webcast can be accessed via the company's website. One-on-one meetings are scheduled for June 23 and 24, and interested investors can contact their Sidoti representatives. MISTRAS is a leading provider of integrated technology-enabled asset protection solutions for critical industrial and civil assets.

MISTRAS Group announced an amendment to its credit agreement, significantly lowering the effective cost of borrowing by 90 basis points, resulting in approximately $1.9 million annual interest savings. The total credit facilities amount to $253.1 million, retaining liquidity with a minor $10 million reduction in unused committed revolver. The leverage allowance is extended to 4.0X EBITDA for one year, enabling continued investment in digital data initiatives and organic growth. The maturity of the credit agreement remains set for December 2023.

MISTRAS Group, Inc. (MG: NYSE) reported first-quarter results for 2021, with revenue of $153.8 million, a 3.6% decrease from the prior year. However, the company experienced a 50 basis points margin expansion, maintaining a gross profit margin of 26%. Despite a net loss of $5.4 million, adjusted EBITDA rose 30.2% to $7.0 million. Key highlights include strong expense discipline with a 4.6% reduction in SG&A expenses and positive trends in energy and infrastructure markets. MISTRAS anticipates year-over-year revenue growth beginning in Q2 2021, driven by improvements in turnaround activity and ongoing operational efficiencies.

MISTRAS Group, Inc. (NYSE: MG) announced a conference call scheduled for May 6, 2021, at 9:00 am ET to discuss first-quarter results. A press release detailing these results will be issued on May 5, 2021, after market close. The call will be available via MISTRAS' website, with phone participation options for U.S. and international callers. MISTRAS is a leading provider of integrated asset protection solutions, serving diverse industries including oil and gas, aerospace, and civil infrastructure.

MISTRAS Group, Inc. (MG: NYSE) will present at the 2021 Q1 Virtual Investor Summit on March 23, 2021, at 1:30 PM ET. The presentation will feature CEO Dennis Bertolotti and CFO Edward Prajzner offering a corporate overview, followed by a live Q&A session. Investors can access the live webcast at here. MISTRAS specializes in integrated asset protection solutions across various industries.

MISTRAS Group (MG: NYSE) reported its fourth quarter and full-year financial results for 2020, showing a 10.2% year-over-year revenue decline to $160.8 million, but a 240 basis point improvement in gross profit margin, reaching 30.7%. Operating cash flow surged 39.6% to $26 million in Q4, and 14.7% for the full year to $67.8 million. The total debt decreased by 13.5% following a $36 million repayment. CEO Dennis Bertolotti highlighted recovery in the energy markets and operational improvements. The outlook for 2021 is optimistic, predicting a revenue increase despite Q1 challenges.

MISTRAS Group, Inc. (NYSE:MG) has announced a conference call scheduled for March 17, 2021, at 9:00 AM ET. The call aims to discuss fourth quarter and fiscal year results ending December 31, 2020. A press release detailing these results will be issued on March 16, 2021, after market close. Investors can join the call via MISTRAS' website or by phone using specific identification codes. MISTRAS specializes in asset protection solutions across key industries, leveraging advanced technologies to ensure operational safety and excellence.