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PRINCETON JUNCTION, N.J. - MISTRAS Group, Inc. (NYSE:MG), a provider of industrial asset integrity solutions with annual revenues of $707 million and a market capitalization of $249 million, announced Wednesday the appointment of Cody Elliott as Vice President of Pipeline Data Solutions.
Elliott will lead the growth of the company’s inline inspection and integrity engineering services within its pipeline integrity data solutions portfolio. He brings 15 years of oil and gas industry experience, primarily in asset integrity, with a history of driving double-digit growth and developing scalable service models. According to InvestingPro data, MISTRAS maintains a strong financial position with liquid assets exceeding short-term obligations and a healthy current ratio of 1.5.
In his new role, Elliott will oversee MISTRAS Pipeline Data Solutions, which provides inline inspection and integrity analytics services across North America. The business focuses on high-resolution inspection technologies, data integration, and integrity assessment services that help pipeline operators identify anomalies, manage risk, and maintain regulatory compliance. InvestingPro analysis indicates the company is currently trading below its Fair Value, with analysts maintaining a strong buy consensus - discover more insights with an InvestingPro subscription, including 7 additional ProTips and comprehensive financial analysis.
"Cody brings deep industry expertise and a proven ability to scale high-impact pipeline integrity solutions," said Hani Hammad, Executive Vice President and Chief Operating Officer, according to the company’s press release.
MISTRAS Group combines these pipeline services with its broader offerings including non-destructive testing, GIS and data services, risk engineering, and asset integrity software to provide comprehensive pipeline integrity management solutions.
The company serves industries including oil and gas, aerospace and defense, power and utilities, manufacturing, and civil infrastructure with technology-enabled asset integrity solutions.
In other recent news, Mistras Group reported its financial results for the first quarter of 2025, revealing a notable miss on earnings expectations. The company posted a net loss of $0.01 per share, falling short of the projected earnings of $0.125 per share. Revenue also came in below forecasts at $161.62 million, compared to the anticipated $180.7 million. Despite these challenges, the company achieved an adjusted EBITDA of $12 million, marking the second-highest first-quarter result in the past five years. Mistras Group did not provide full-year guidance due to ongoing market uncertainties but remains optimistic about meeting or exceeding its 2024 adjusted EBITDA. The company has launched new products and emphasized cost reductions as part of its strategic focus. Additionally, Mistras Group has been integrating software, services, and analytics, with the introduction of the PCMS Mobile application and a new Data Solutions brand. The management anticipates a more robust performance in the fall turnaround season and is focused on organic growth and debt reduction.
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