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Mistras Group (MG) investor relations material
Mistras Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue reached $195.5 million, up 7% year-over-year, with net income more than doubling to $13.1 million ($0.41 per diluted share), and record adjusted EBITDA of $30.2 million, a 29.6% increase.
Growth was broad-based across all major industry verticals, with double-digit gains in Aerospace & Defense, Industrials, Infrastructure, and Power Generation.
Gross profit margin improved by 300 basis points to 29.8%, reflecting operational efficiencies and cost controls.
Strategic plan "Vision 2030" focuses on integrated solutions, diversification into new markets, and operational leverage.
Operating income rose 71.9% to $20.4 million, with non-GAAP operating income before special items up 70.1% to $22.3 million.
Financial highlights
Q3 2025 revenue was $195.5 million (+7.0% YoY); gross profit was $58.2 million (+19.0%), with gross margin expanding to 29.8%.
Adjusted EBITDA margin rose to 15.4% from 12.7% in the prior year quarter.
GAAP net income doubled to $13.1 million ($0.41 per diluted share) from $6.4 million ($0.20 per share) year-over-year.
Interest expense decreased to $3.4 million from $4.3 million, a 21.4% reduction.
Cash and cash equivalents at quarter-end were $27.8 million, with $86.4 million in unused credit facility commitments.
Outlook and guidance
Full-year 2025 revenue expected between $716–$720 million, essentially flat year-over-year after adjusting for Laboratory consolidations and exit from unprofitable business.
Full-year adjusted EBITDA guidance raised to $86–$88 million, above 2024’s $82.5 million.
Positive free cash flow and debt paydowns anticipated in Q4 2025, with normalization of free cash flow expected in the first half of 2026.
Management expects continued impact from oil price volatility on Oil & Gas segment demand.
Sufficient liquidity and credit remain available to fund operations for the foreseeable future.
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