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Sep 30, 2024
Mistras Q3 2024 Earnings Report
Reported a revenue growth of 1.9% driven by the International segment, a net income of $6.4 million, and an adjusted EBITDA increase of 11.5%.
Key Takeaways
MISTRAS Group reported a 1.9% increase in revenue, driven by the International segment. Net income was $6.4 million, or $0.20 per diluted share, and adjusted EBITDA increased by 11.5% to $23.3 million.
Revenue increased by 1.9%, driven by growth in the International segment.
Gross profit expanded to $54.6 million, with a gross profit margin of 29.9%.
Net income was $6.4 million, with earnings per diluted share of $0.20.
Adjusted EBITDA increased by 11.5% to $23.3 million.
Revenue by Segment
Forward Guidance
The Company has revised its guidance ranges for the full year 2024 as follows: aFull year Revenue is expected to be between $725 and $730 million (from $725-$750 million previously) bAdjusted EBITDA is expected to be between $80 and $82 million (from $84-$89 million previously) cFree cash flow is expected to be between $18 and $22 million (from $34-$38 million previously)
Positive Outlook
- Full year Revenue is expected to be between $725 and $730 million
- Adjusted EBITDA is expected to be between $80 and $82 million
- Free cash flow is expected to be between $18 and $22 million
- Meaningful improvement in its net income
- Low double-digit expansion in Adjusted EBITDA and a low single-digit organic revenue growth for fiscal 2025.
Challenges Ahead
- Changes were attributable to current market conditions
- Changes were attributable to project pushouts
- Changes were attributable to an unanticipated buildup of accounts receivable
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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