Amcor stock falls after Raymond James reiterates Market Perform rating
NEW YORK - Mistras Group, Inc. (NYSE:MG) saw its shares climb 3.5% after the asset protection solutions provider reported fourth quarter earnings that exceeded analyst expectations, despite a slight revenue miss.
The Princeton Junction, New Jersey-based company posted adjusted earnings per share of $0.24 for the fourth quarter, surpassing the consensus estimate of $0.16 by $0.08. Revenue came in at $172.73 million, falling short of analysts’ projections of $177.06 million.
For the full year 2024, Mistras Group reported revenue growth of 3.4% to $729.6 million. Net income surged 208.6% to $19.0 million, or $0.60 per diluted share. Adjusted EBITDA increased 25.3% to $82.5 million.
"Our consolidated fourth quarter results exceeded our annual revised guidance, with the bottom line expanding significantly, demonstrating the margin accretive actions that we have instituted into our business model," said Manny Stamatakis, Executive Chairman of the Board of Directors.
The company generated $25.7 million in operating cash flow and $20.8 million in free cash flow during the fourth quarter, which it used to pay down $20.1 million in bank borrowings.
Mistras Group did not provide specific guidance for fiscal 2025, citing the need to assess foreign exchange risks and potential impacts from recently announced U.S. foreign tariffs. The company said it aims to continue driving profitable growth in the coming year.
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