NYSE$MG
Mistras Group Inc · Q4 2020 earnings
Q4 2020 earnings · · Investor relations
Briefing
Achieved revenue of $160.8 million, gross profit margin of 30.7%, and net income of $0.2 million.
MISTRAS Group reported a decrease in revenue but an increase in gross profit margin and operating cash flow for the fourth quarter of 2020. The company's revenue was $160.8 million, a decrease of 10.2% year-over-year, but an increase of 8.7% sequentially. Gross profit margin improved to 30.7%, a 240 basis point improvement. Operating cash flow increased by 39.6% to $26.0 million, and free cash flow increased by 55.0% to $21.2 million. Net income was $0.2 million, or $0.01 per diluted share, with adjusted EBITDA of $17.6 million, up 21.6% from $14.5 million in the year ago quarter, and also up sequentially from the third quarter.
- Revenue decreased by 10.2% year-over-year to $160.8 million but increased by 8.7% sequentially.
- Gross profit margin improved by 240 basis points to 30.7%.
- Operating cash flow increased by 39.6% to $26.0 million.
- Free cash flow increased by 55.0% to $21.2 million.
Headline financials
Revenue & EPS history
Mistras · Revenue · Quarterly
$161M
Revenue by segment
Mistras · $36.4M total across 2 segments · Q4 2020
- International$30.7M-12.3%84.3%
- Products and Systems$5.7M+6.4%15.7%
Forward guidance
The Company expects annual revenue for 2021 to be higher than in 2020, however, first quarter 2021 revenues will decline modestly compared with those of prior year, due to a full quarter’s impact of COVID-19 in 2021 as compared to a partial month impact in 2020.
Tailwinds
- Company expects that year-on-year Adjusted EBITDA improvements will commence beginning in the first quarter of 2021.
- The Company is optimistic that its revenue will continue to rebound once it reaches the second quarter of fiscal 2021, and therefore expects that revenue will commence year-on-year improvements beginning in the second quarter of 2021.
- Energy prices and demand are currently stable
- The ongoing COVID-19 pandemic continues to impact the Company’s two largest markets, Oil & Gas and Aerospace.
- Company’s business has been recovering over the past two quarters, from the low experienced in the second quarter of 2020, when the effect of COVID-19 was most impactful to its financial results.
Headwinds
- First quarter 2021 revenues will decline modestly compared with those of prior year, due to a full quarter’s impact of COVID-19 in 2021 as compared to a partial month impact in 2020.
- First quarter 2021 revenue will be lower sequentially compared with the fourth quarter of 2020, due to typical seasonality patterns.
- Continuing stabilization in crude oil markets is needed.
- A timely and effective implementation of COVID-19 vaccinations in 2021 is needed
- No new or increased stay-in-place mandates resulting from an increased spread of COVID-19, which would impact the Company’s ability to work as a critical service provider.
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 Q4 2020
+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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