Mistras ( (MG) ) has released its Q4 earnings. Here is a breakdown of the information Mistras presented to its investors.
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Mistras Group, Inc. is a multinational provider of integrated technology-enabled asset protection solutions, primarily serving industries such as oil and gas, aerospace and defense, and power generation. The company is known for its innovative, data-driven approach to asset protection and its strong commitment to Environmental, Social, and Governance (ESG) initiatives.
Mistras recently announced its financial results for the fourth quarter and full year of 2024, showcasing significant growth in key financial metrics. The company reported a 3.4% increase in revenue, reaching $729.6 million for the year, and a substantial 208.6% increase in net income, amounting to $19.0 million. Adjusted EBITDA also saw a notable rise of 25.3% to $82.5 million.
Key highlights from the report include a significant increase in net cash from operations, which rose by 87.4% to $50.1 million, and a remarkable 775.9% increase in free cash flow to $27.1 million. The company also achieved a reduction in selling, general, and administrative expenses by $10.4 million, reflecting a 6.2% decrease. The Aerospace and Defense industry was a standout performer, with a 13.0% increase in revenue.
Mistras’ management expressed confidence in the company’s future, highlighting the strategic initiatives and cost containment measures that have contributed to the improved financial performance. The company’s new President and CEO, Natalia Shuman, emphasized her commitment to driving further growth and value for stakeholders, supported by strong customer relationships and leading technologies.
Looking ahead, Mistras is focused on continuing to grow its Adjusted EBITDA and earnings per share while improving margins. The company is also assessing potential impacts from foreign exchange risks and U.S. foreign tariffs, with plans to release guidance for fiscal 2025 once evaluations are complete.