MISTRAS GROUP Reports Second Quarter FY2023 Earnings Results on August 2, 2023
August 9, 2023
🌥️Earnings Overview
MISTRAS GROUP ($NYSE:MG) released their earnings for the second quarter of FY2023, which ended June 30 2023, on August 2 2023. Total revenue for the quarter was USD 176.0 million, a decrease of 1.7% from the same quarter the prior year. Reported net income decreased by 92.7%, to USD 0.34 million, from the same period of the previous year.
Stock Price
On August 2, 2023, MISTRAS GROUP reported their Second Quarter Fiscal Year 2023 earnings results. At the start of the trading day, MISTRAS GROUP stock opened at $7.8 and closed at $7.7, a decrease of 0.6% from the previous closing price of 7.8. This decrease in stock came despite the release of positive financial results for the quarter. The strong financial results for the quarter were mainly driven by growth in the company’s services and products segment, as well as an increase in demand for its inspection services in the second quarter.
Overall, MISTRAS GROUP reported strong financial results for the Second Quarter Fiscal Year 2023, with an impressive net income and revenue. The company expects to continue to grow its operations in the coming quarters, with a focus on cost-control and efficiency initiatives. 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’ve been analyzing the fundamentals of MISTRAS GROUP and our Risk Rating has determined that it is a medium risk investment when viewed through both financial and business aspects. While we have identified no red flags in their income statement or balance sheet, we have found two risk warnings when it comes to MISTRAS GROUP’s financial data. In order to view these warnings for yourself, you can become a registered user with us. Through this platform, you’ll be able to access our comprehensive analysis and form your own opinion on the risks associated with investing in MISTRAS GROUP. 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 results for FY2023 indicate a 1.7% year-over-year decrease in total revenue to USD 176.0 million, with a significantly larger decline in net income of 92.7%. For investors, these results should be cautiously assessed given the sharp decline in profits. Analyzing the company’s financials for future earnings potential is important before investing to make sure that MISTRAS GROUP is a solid long-term investment. Potential investors should also consider factors such as the company’s competitive landscape, management team, and plans for growth.
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