Company Overview - MISTRAS Group, Inc. is a leading multinational provider of integrated technology-enabled asset protection solutions, focusing on maximizing safety and operational uptime for critical industrial and civil assets [7] - The company operates in various industries, including oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing [8] Leadership and Legacy - Dr. Sotirios J. Vahaviolos, the founder and Chairman Emeritus of MISTRAS, passed away on February 6, 2025, after dedicating over four decades to building the company into a global leader in non-destructive testing (NDT) and acoustic emission (AE) [1][2] - Under Dr. Vahaviolos's leadership, MISTRAS grew to employ over 5,000 individuals across the U.S., Canada, and other countries, establishing a diversified enterprise [3] - The company has ensured a seamless transition in leadership, with no changes to management or strategic direction following Dr. Vahaviolos's passing [3] Professional Recognition - Dr. Vahaviolos was recognized as a Fellow of several prestigious organizations, including the Institute of Electrical and Electronics Engineers (IEEE) and the American Society of Nondestructive Testing (ASNT), and received multiple accolades for his contributions to the field [5] - He was one of the founders of NDT Academia International in 2008, showcasing his commitment to advancing nondestructive testing globally [6] Technological Capabilities - MISTRAS enhances value for clients by integrating asset protection throughout supply chains and centralizing integrity data through Industrial IoT-connected digital software and monitoring solutions [9] - The company's core capabilities include non-destructive testing, advanced robotics, laboratory quality control, sensing technologies, and mechanical integrity engineering services [9]

Company Overview - MISTRAS Group, Inc. is a leading multinational provider of integrated technology-enabled asset protection solutions, focusing on maximizing safety and operational uptime for critical industrial and civil assets [7] - The company operates in various industries, including oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing [8] Leadership and Legacy - Dr. Sotirios J. Vahaviolos, the founder and Chairman Emeritus of MISTRAS, passed away on February 6, 2025, after dedicating over four decades to building the company into a global leader in non-destructive testing (NDT) and acoustic emission (AE) [1][2] - Under Dr. Vahaviolos's leadership, MISTRAS grew to employ over 5,000 individuals across the U.S., Canada, and other countries, establishing a diversified enterprise [3] Contributions and Recognition - Dr. Vahaviolos was recognized as a Fellow of several prestigious organizations, including IEEE and ASNT, and received multiple accolades for his contributions to the field of non-destructive testing [5] - He was one of the founders of NDT Academia International in 2008, showcasing his commitment to advancing NDT globally [6] Company Operations - MISTRAS continues to operate without changes to its management or strategic direction, ensuring a seamless transition in leadership following Dr. Vahaviolos's passing [3] - The company enhances value for clients by integrating asset protection throughout supply chains and utilizing Industrial IoT-connected digital software and monitoring solutions [9]

Core Insights - MISTRAS Group, Inc. has appointed Natalia Shuman as the new President and CEO, effective January 1, 2025, succeeding Manuel N. Stamatakis [1][3][5] Leadership Transition - Natalia Shuman brings over 20 years of leadership experience in the Testing, Inspection, and Certification (TIC) industry, having previously held executive roles at Eurofins Scientific and Bureau Veritas [2][6][7] - Manuel N. Stamatakis will continue as Executive Chairman of the Board, providing strategic oversight and support to the new CEO [3][4] Strategic Vision - The Board of Directors believes that Shuman's extensive experience and leadership will drive MISTRAS Group towards profitable growth and sustainable improvement in shareholder value [5] - Shuman expressed her commitment to building on the strong foundation established by the company and driving meaningful value for stakeholders [5] Company Overview - MISTRAS Group is a leading multinational provider of integrated technology-enabled asset protection solutions, focusing on maximizing safety and operational uptime for critical industrial and civil assets [10][11] - The company supports various industries, including oil and gas, aerospace and defense, renewable and nonrenewable power, civil infrastructure, and manufacturing [11][12]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __ to __ Commission file number 001-34481 Mistras Group, Inc. (Exact name of registrant as specified in its charter) Delaware 22-3341267 ...

Financial Data and Key Metrics Changes - Revenue increased nearly 2% during Q3 2024, with adjusted EBITDA up over 11% year-over-year and over 32% year-to-date, indicating significant operating leverage improvements [6][7][15] - GAAP net income for Q3 2024 was $6.4 million or $0.20 per diluted share, with year-to-date GAAP net income at $13.8 million or $0.44 per diluted share [22] - Selling, general and administrative (SG&A) expenses decreased by 1.7% year-over-year to $38.9 million, and were down 5.1% sequentially from Q2 2024 [8][20] Business Line Data and Key Metrics Changes - Revenue from the international segment grew by 8.7% in Q3 2024, continuing a strong trend [16] - Aerospace and defense revenue increased by 9.1% in Q3 2024, despite project pushouts, with expectations of nearly 15% growth for the full year [9][18] - Consolidated industrials revenue rose by 17.2%, and power generation and transmission revenue increased by 19.7% in Q3 2024 [18] Market Data and Key Metrics Changes - Oil and gas industry revenue decreased, particularly in the downstream subindustry, while upstream revenue increased by 15.2% year-over-year [19] - Overall oil and gas revenue was up 4.5% year-to-date for 2024, indicating resilience despite sector fluctuations [19] Company Strategy and Development Direction - The company plans to continue investing in high-growth sectors such as aerospace and defense, with a focus on expanding service offerings [10][11] - A search for a permanent CEO is underway, with expectations to announce a new CEO by the end of the year [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future performance, citing disciplined processes and a commitment to improving cash flow and operational efficiency [28][30] - The company revised its 2024 revenue guidance to between $725 million and $730 million, and adjusted EBITDA to between $80 million and $82 million, primarily due to project delays and an increase in accounts receivable [29][30] Other Important Information - The effective income tax rate was 29% for Q3 2024, with expectations to be in the mid-20% range for the full year [24] - Special items recorded during Q3 included a $2.1 million reorganization charge and a $900,000 favorable legal settlement, which had minimal impact on net income [25] Q&A Session Summary Question: What changed regarding cash flow projections? - Management indicated that elevated accounts receivable (AR) balances impacted cash flow projections, with efforts underway to reduce AR [34][35] Question: Are systematic changes being made to prevent future cash flow issues? - Management confirmed that systematic changes are being implemented, including upgrading ERP systems and increasing management focus on AR [36][38] Question: Was there any revenue impact from price increases or exiting unprofitable business lines? - There were modest price increases contributing to revenue, but no exiting of unprofitable business lines occurred [39][40] Question: How did healthcare claims impact gross margins? - High-cost claimants significantly impacted gross margins, but this was not a structural issue [41][43] Question: What is the outlook for power generation and transmission revenue? - Management expects continued growth in these sectors, driven by robust manufacturing activity [44] Question: Will downstream revenue see an uptick next year? - Management anticipates a good year for downstream, with potential for stronger performance in the fall [46][47] Question: What caused the decline in midstream revenue this quarter? - The decline was attributed to a nonrecurring turnaround project that occurred in the prior year [49] Question: Did falling oil prices affect the quarter's results? - Management does not expect falling oil prices to impact results, as they remain within a normal range [50][51] Question: What are the reasons for revenue pushouts in data analytics and aerospace? - Delays in customer implementations and supply chain issues were cited as reasons for revenue pushouts [52][57] Question: Are customers facing financial difficulties affecting cash flow? - Management clarified that customers are financially stable, and the issue lies in the timing of payments [58] Question: Why was the bottom end of adjusted EBITDA guidance lowered? - The lower adjusted EBITDA guidance was due to a less favorable sales mix, with high-margin sectors underperforming [60]

Mistras (MG) came out with quarterly earnings of $0.20 per share, missing the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -23.08%. A quarter ago, it was expected that this engineering services company would post earnings of $0.15 per share when it actually produced earnings of $0.21, delivering a surprise of 40%.Over the last four quarters, the ...

Exhibit 99.1 MISTRAS Announces Third Quarter 2024 Results Quarterly Revenue Growth of 1.9%, driven by continued strong growth in the International segment Quarterly Net Income of $6.4 million, or $0.20 per diluted share Quarterly Adjusted EBITDA (non-GAAP) of $23.3 million, an increase of 11.5% PRINCETON JUNCTION, N.J., October 30, 2024 (GLOBE NEWSWIRE) -- MISTRAS Group, Inc. (MG: NYSE), a leading "one source" multinational provider of integrated technology-enabled asset protection solutions, reported finan ...

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Core Viewpoint - Growth investors seek stocks with above-average financial growth, but identifying such stocks can be challenging due to inherent risks and volatility [1] Group 1: Company Overview - Mistras (MG) is recommended as a cutting-edge growth stock by the Zacks Growth Style Score system, which evaluates a company's real growth prospects [2] - Mistras has a favorable Growth Score and a top Zacks Rank, indicating strong potential for growth [2] Group 2: Earnings Growth - Historical EPS growth for Mistras is 3.3%, but projected EPS growth for this year is expected to be 281%, significantly surpassing the industry average of 9.1% [5] Group 3: Asset Utilization - Mistras has an asset utilization ratio (sales-to-total-assets ratio) of 1.36, indicating that the company generates $1.36 in sales for every dollar in assets, compared to the industry average of 0.85 [6] Group 4: Sales Growth - The company's sales are projected to grow by 6.1% this year, while the industry average is stagnant at 0% [7] Group 5: Earnings Estimate Revisions - There has been an 11.1% upward revision in current-year earnings estimates for Mistras over the past month, contributing to its Zacks Rank of 2 [9]