Loading...
•
Mar 31, 2024
Mistras Q1 2024 Earnings Report
Mistras Group reported a strong start to the year, marked by revenue growth, improved profitability, and progress in strategic initiatives.
Key Takeaways
Mistras Group reported a revenue increase of 9.8% to $184.4 million, alongside a net income of $1.0 million, a significant improvement from the previous year's net loss. Adjusted EBITDA also saw a substantial rise of 55.1% to $16.2 million, driven by revenue growth and cost management through Project Phoenix.
Revenue increased by 9.8% to $184.4 million, the highest Q1 revenue since 2018.
Net income improved to $1.0 million, a significant recovery from a $5.0 million net loss in the prior year.
Adjusted EBITDA rose by 55.1% to $16.2 million, the highest Q1 result historically.
Gross profit increased by 10.9% with a gross profit margin of 27.7%, driven by improved operating leverage and aerospace growth.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company reaffirms the 2024 full year guidance previously provided.
Positive Outlook
- Full year Revenue between $725 and $750 million
- Adjusted EBITDA between $84 and $89 million
- Free cash flow between $34 and $38 million
- Strategic investments in the business to expand proprietary technologies and extensive knowledge
- Commitment and focus of employees to deliver high quality results and best in class customer service
Challenges Ahead
- Room for improvement in increasing free cash flow generation
- Working capital challenges related to customer invoicing timing
- Increase in capital expenditures compared to the prior year
- Healthcare claims expense partially offsetting gross margin improvements
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...