Mistras Group Inc. - MG STOCK NEWS

MISTRAS Group, Inc. (NYSE: MG) announced the election of Mr. Charles P. Pizzi to its Board of Directors, effective January 1, 2021. Pizzi brings substantial experience in corporate governance, having served as President & CEO of Tasty Baking Company and as Chairman of Independence Health Group, where he oversaw significant revenue growth. His appointment aims to enhance MISTRAS's strategic position in asset protection. MISTRAS specializes in technology-enabled solutions for critical industries, including oil and gas, aerospace, and civil infrastructure.

MISTRAS Group, Inc. (MG: NYSE) will present at the 2020 Virtual Fall Investor Summit on November 16, 2020, at 11:00 AM ET. The presentation will feature Dennis Bertolotti, CEO, and Edward Prajzner, CFO, discussing the company's integrated asset protection solutions. A live Q&A session will follow the presentation. Stakeholders can access the live webcast at this link. MISTRAS specializes in technology-enabled solutions across various industries, enhancing safety and operational uptime.

Mistras Group (NYSE:MG) is set to present at the virtual Fall Investor Summit from November 16th to 18th, 2020. The summit will host 75 companies and connect over 300 investors. Mistras is a global leader in integrated asset protection solutions, serving critical industries such as oil and gas, aerospace, and civil infrastructure. The company offers advanced technology and services, including non-destructive testing and data-driven monitoring solutions. This summit aims to facilitate interactions between smallcap and microcap companies and qualified investors.

Mistras Group (MG: NYSE) reported Q3 2020 results with revenue of $147.9 million, a 23% decline year-over-year, but an 18.9% growth sequentially. The gross profit margin improved by 190 basis points to 32%. SG&A expenses decreased by 12.3% to $37.1 million. Net income was $1.6 million, equating to $0.05 per share. Year-to-date, the company generated $431.8 million in revenue, down 24.2%. Operating cash flow totaled $41.8 million, reflecting a 3.2% increase. Debt repayments reached $18.8 million, showcasing a commitment to reduce leverage.

MISTRAS Group, Inc. (NYSE:MG) has announced a conference call on November 5, 2020, at 9:00 AM ET to discuss its Q3 2020 results. A press release with the financial results will be issued after market close on November 4, 2020. The conference call can be accessed via phone or online on MISTRAS' website. The company is recognized as a leader in providing integrated asset protection solutions across various industries, enhancing safety and operational uptime for critical infrastructure.

MISTRAS Group, Inc. (MG: NYSE) will present at the Sidoti Virtual Investor Conference on September 23, 2020, at 2:30 PM ET. CEO Dennis Bertolotti and CFO Edward Prajzner will lead the presentation, which will include a live Q&A session. MISTRAS Group is a multinational provider specializing in integrated asset protection solutions across various industries, including oil and gas and aerospace. The presentation will be available for live streaming at here.

Mistras Group reported its second quarter results for 2020, revealing a revenue of $124.4 million, a decrease of 38% year-over-year. However, cash from operations surged to $28.8 million, up 122%, and free cash flow reached $25.5 million, up 284%. The company achieved a gross profit margin of 33.1%, its highest in over five years, reflecting improved efficiency despite the ongoing impact of COVID-19. Debt repayment reached a record $18.8 million. The company anticipates a high-teen to 20% sequential revenue increase in Q3 2020.

MISTRAS Group, Inc. (NYSE: MG) has announced a conference call scheduled for August 6, 2020, at 9:30 am ET to discuss its second-quarter results for 2020. The results will be made public in a press release after market close on August 5, 2020. Investors can participate via phone or listen on the MISTRAS website. The company provides integrated asset protection solutions across various sectors, including oil and gas, aerospace, and civil infrastructure, enhancing safety and operational uptime through innovative technology.

Mistras Group, Inc. (MG: NYSE) reported first-quarter 2020 revenue of $159.5 million, exceeding forecasts despite a net loss of $98.5 million due to COVID-19 related non-cash impairment charges of $106.1 million. Cash flows from operations were $6.1 million, yet gross profit margins declined to 25.0%. The company amended its credit facility for greater covenant flexibility while maintaining liquidity. Looking ahead, Mistras anticipates a revenue decrease of up to 30% in Q2 but remains optimistic about a revenue rebound in the latter half of 2020 as market conditions stabilize.