NYSE$MG
Mistras Group Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported revenue increase and adjusted EBITDA growth, driven by commercial aerospace and data analytical solutions markets, with ongoing Project Phoenix initiatives leading to further SG&A reductions.
MISTRAS Group reported a slight increase in revenue for Q3 2023, alongside a significant rise in Adjusted EBITDA. The company's gross profit margin also saw improvement. Net loss was impacted by a non-cash goodwill impairment charge and reorganization costs. Project Phoenix is expected to yield substantial cost savings in 2024.
- Revenue increased by 0.5% to $179.4 million.
- Gross profit margin improved by 20 basis points to 30.3%.
- Adjusted EBITDA increased by 12.5% to $20.9 million.
- The company anticipates a modest single digit revenue growth in 2024, yet a significant expansion in Adjusted EBITDA.
Headline financials
Revenue & EPS history
Mistras · Revenue · Quarterly
$179M
Revenue by segment
Mistras · $183M total across 3 segments · Q3 2023
- North America$149M—81.5%
- International$31M+20.6%17.0%
- Products and Systems$2.83M-8.1%1.5%
Forward guidance
The Company anticipates a modest single digit revenue growth in 2024, yet a significant expansion in Adjusted EBITDA, attributable to operating leverage and the ongoing benefits of Project Phoenix. We believe this will result in an all-time high in Adjusted EBITDA in fiscal 2024 of greater than $88 million. This outlook includes approximately $20 million in incremental benefit from Project Phoenix in 2024.
Tailwinds
- Modest single digit revenue growth in 2024
- Significant expansion in Adjusted EBITDA
- Operating leverage
- Ongoing benefits of Project Phoenix
- All-time high in Adjusted EBITDA in fiscal 2024 of greater than $88 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.5%
Avg return
Earnings day
-1.5%
Avg return
5 days after
+1.1%
Avg return
30 days after
56%
35 / 62 earnings
Positive
+41.9%
Q1 2015
Best reaction
-25.0%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.0% | -9.1% | -5.8% | |
| Q4 2025 | -5.8% | -8.2% | -2.4% | |
| Q3 2025 | +0.1% | -1.0% | +24.0% | |
| Q1 2025 | -0.4% | -6.9% | -2.6% | |
| Q4 2024 | +12.2% | +7.9% | +1.4% | |
| Q3 2024 | -25.0% | -25.5% | -17.4% | |
| Q2 2024 | +1.0% | -1.3% | +19.2% | |
| Q1 2024 | +5.6% | +2.3% | -2.3% | |
| Q4 2023 | +8.1% | +7.6% | +15.6% | |
| Q3 2023 | +10.2% | +10.8% | +24.3% | |
| Q2 2023 | -21.4% | -31.1% | -30.9% | |
| Q1 2023 | -15.8% | -14.2% | -14.2% | |
| Q4 2022 | +3.0% | +5.6% | +38.2% | |
| Q3 2022 | -13.4% | -10.9% | -24.3% | |
| Q2 2022 | +2.7% | +0.0% | -14.8% | |
| Q1 2022 | +4.0% | -3.3% | +2.8% | |
| Q4 2021 | -0.2% | +2.5% | -3.5% | |
| Q3 2021 | -10.6% | -11.6% | -25.3% | |
| Q2 2021 | +0.8% | -1.6% | +0.6% | |
| Q1 2021 | -4.0% | -15.0% | -10.1% | |
| Q4 2020 | +9.9% | +6.3% | +7.0% | |
| Q3 2020 | +4.9% | +22.3% | +52.1% | |
| Q2 2020 | +18.2% | +21.5% | +24.9% | |
| Q1 2020 | +2.5% | +15.6% | +33.4% | |
| Q4 2019 | +6.0% | +11.5% | -4.5% | |
| Q3 2019 | -11.2% | -8.5% | -14.7% | |
| Q2 2019 | +12.0% | +11.3% | -1.8% | |
| Q1 2019 | -5.2% | -3.6% | +0.6% | |
| Q4 2018 | -9.0% | -8.7% | -12.1% | |
| Q3 2018 | -12.3% | -11.3% | -17.6% | |
| Q2 2018 | +13.5% | +9.3% | +10.7% | |
| Q1 2018 | +1.1% | -6.2% | +0.7% | |
| Q4 2017 | -2.7% | -2.8% | -1.9% | |
| Q3 2017 | +6.6% | +5.8% | +6.4% | |
| Q2 2017 | -5.3% | -11.0% | -1.4% | |
| Q1 2017 | +1.1% | -2.9% | -7.2% | |
| Q4 2016 | -11.3% | -1.9% | -6.6% | |
| Q3 2016 | -6.4% | — | — | |
| Q2 2016 | +15.6% | — | — | |
| Q1 2015 | +41.9% | — | — | |
| Q4 2015 | -14.7% | — | — | |
| Q3 2015 | -2.0% | — | — | |
| Q2 2015 | +17.9% | — | — | |
| Q3 2014 | -3.1% | — | — | |
| Q2 2014 | +3.0% | — | — | |
| Q1 2014 | +1.8% | — | — | |
| Q4 2013 | +10.5% | — | — | |
| Q3 2013 | +6.7% | — | — | |
| Q2 2013 | -4.7% | — | — | |
| Q1 2013 | -12.5% | — | — | |
| Q4 2012 | -10.7% | — | — | |
| Q3 2012 | -1.8% | — | — | |
| Q2 2012 | +2.3% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | -6.7% | — | — | |
| Q3 2011 | +5.2% | — | — | |
| Q2 2011 | +10.3% | — | — | |
| Q1 2011 | +4.7% | — | — | |
| Q4 2010 | +1.7% | — | — | |
| Q3 2010 | -0.5% | — | — | |
| Q2 2010 | +2.5% | — | — | |
| Q1 2009 | +0.6% | — | — |
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