MISTRAS GROUP Announces Fiscal Year 2023 Second Quarter Earnings Results for June 30, 2023
August 21, 2023
🌥️Earnings Overview
On August 2, 2023, MISTRAS GROUP ($NYSE:MG) announced their earnings results for the second quarter of fiscal year 2023, ending June 30, 2023. Revenue for the quarter totaled USD 176.0 million, down 1.7% from the same period the previous year. Net income decreased 92.7% to USD 0.34 million year-over-year.
Market Price
The stock opened at $7.8 and closed at $7.7, down by 0.6% from prior closing price of 7.8. The overall net income of the company showed a decrease of $4 million as compared to the preceding quarter. The revenue decline was mainly driven by a decrease in orders from customers in the power and utilities, oil & gas and construction industries. Operating expenses for the quarter increased by $2 million, resulting in an operating profit of $4 million.
Net earnings for the quarter were $8 million, a decrease of nearly $4 million from the first quarter. MISTRAS GROUP is committed to providing quality services and solutions to its customers and to delivering value to shareholders. The company plans to continue to focus on cost reduction initiatives and new product development in order to remain competitive in its industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mistras Group. More…
| Total Revenues | Net Income | Net Margin |
| 690.73 | 2.57 | 0.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mistras Group. More…
| Operations | Investing | Financing |
| 36.92 | -15.55 | -22.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mistras Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 540.95 | 340.41 | 6.61 |
Key Ratios Snapshot
Some of the financial key ratios for Mistras Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.8% | 43.6% | 2.5% |
| FCF Margin | ROE | ROA |
| 4.4% | 5.4% | 2.0% |
Analysis
At GoodWhale, we believe that understanding the financials of a company is essential in order to make informed decisions about investing in it. We have used our advanced financial analysis tools to analyze MISTRAS GROUP’s financials and have determined that it is a medium risk investment in terms of both financial and business aspects. When analyzing the income sheet and balance sheet of MISTRAS GROUP, we detected two risk warnings that could indicate potential issues. It is important to take these warnings into consideration when making an investment decision. To get access to the full analysis of MISTRAS GROUP’s financials, register with us and check it out for yourself. More…
Peers
MISTRAS Group Inc is a leading provider of technology-enabled asset protection solutions. The company offers a range of products and services that help customers safeguard their assets and improve their operations. MISTRAS Group Inc’s primary competitors are Brady Corp, Marlowe PLC, and Sensys Gatso Group AB.
– Brady Corp ($NYSE:BRC)
Brady Corporation is a Wisconsin-based manufacturer and marketer of identification and security products. The company has a market capitalization of $2.16 billion as of 2022 and a return on equity of 13.23%. Brady Corporation’s products are used in a variety of applications, including safety, industrial, electrical, and construction. The company’s products are sold through distributors and retailers worldwide.
– Marlowe PLC ($LSE:MRL)
Marlowe PLC is a publicly traded company with a market capitalization of 721 million as of 2022. The company has a return on equity of 1.57%. Marlowe PLC is engaged in the provision of professional services. The company operates in four segments: support services, security, fire, and environmental. The company was founded in 1896 and is headquartered in London, the United Kingdom.
– Sensys Gatso Group AB ($LTS:0H0U)
Sensys Gatso Group AB is a Swedish company that provides traffic management solutions. The company offers products and services for road safety, congestion management, and enforcement of environmental regulations. Sensys Gatso Group AB has a market cap of 986.3M as of 2022, a Return on Equity of 8.26%. The company’s products are used in more than 50 countries around the world.
Summary
MISTRAS GROUP‘s second quarter of fiscal year 2023 results show total revenue of USD 176.0 million, a 1.7% decrease year over year. Net income fell dramatically by 92.7% to USD 0.34 million compared to the same period in the prior year. Investors should keep an eye on MISTRAS GROUP as the company works to turn around their performance and regain investor confidence. It is important for investors to consider the current environment and analyze the company’s long-term prospects when evaluating the potential of MISTRAS GROUP.
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