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Mistras (MG)

MISTRAS Group, Inc. is a leading "one source" multinational provider of integrated technology-enabled asset protection solutions, helping to maximize the safety and operational uptime for civilization's most critical industrial and civil assets.

Company profile

Ticker
MG
Exchange
CEO
Dennis M. Bertolotti
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Aetos Group, Inc. • CISMIS Springfield Corp. • Conam Inspection and Engineering Services, Inc. • GMA Holding B.V. • GMA Werkstoffprufung GmbH • Mistras Arizona Inspection Services LLC • Mistras Canada, Inc. • Mistras Engineering Services Inc. • Mistras Group B.V. • Mistras Group BVBA ...
IRS number
223341267

MG stock data

Calendar

5 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 18.61M 18.61M 18.61M 18.61M 18.61M 18.61M
Cash burn (monthly) 437.33K 111.08K (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 1.29M 327.92K n/a n/a n/a n/a
Cash remaining 17.32M 18.28M n/a n/a n/a n/a
Runway (months of cash) 39.6 164.6 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
18 Aug 22 Debenedictis Nicholas Common Stock Grant Acquire A No No 0 7,111 0 166,734
18 Aug 22 Forese James J Common Stock Grant Acquire A No No 0 7,111 0 123,861
18 Aug 22 Lohmeier Michelle Common Stock Grant Acquire A No No 0 7,111 0 46,041
18 Aug 22 Pizzi Charles P Common Stock Grant Acquire A No No 0 7,111 0 22,448
18 Aug 22 Stamatakis Manuel N. Common Stock Grant Acquire A No No 0 7,111 0 198,710
47.1% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 77 89 -13.5%
Opened positions 11 9 +22.2%
Closed positions 23 5 +360.0%
Increased positions 22 36 -38.9%
Reduced positions 33 28 +17.9%
13F shares Current Prev Q Change
Total value 92.99M 98.92M -6.0%
Total shares 14.04M 14.97M -6.2%
Total puts 0 58.2K EXIT
Total calls 16K 0 NEW
Total put/call ratio Infinity
Largest owners Shares Value Change
Mill Road Capital Management 1.47M $8.75M +7.9%
Royce & Associates 1.23M $7.28M +31.8%
Invenomic Capital Management 1.21M $7.17M +18.6%
Dimensional Fund Advisors 1.08M $6.42M +8.5%
Rockefeller Capital Management 918.09K $5.45M -0.2%
Vanguard 829.13K $4.93M -9.1%
Broad Run Investment Management 785.98K $4.67M 0.0%
FHI Federated Hermes 719.43K $4.27M +43.8%
Price Jennifer C. 602.16K $3.58M NEW
Gratia Capital 524.2K $3.11M -12.1%
Largest transactions Shares Bought/sold Change
BLK Blackrock 417.34K -983.46K -70.2%
Price Jennifer C. 602.16K +602.16K NEW
Price Michael F 0 -540.7K EXIT
Royce & Associates 1.23M +295.59K +31.8%
STT State Street 53.18K -283.19K -84.2%
FHI Federated Hermes 719.43K +218.97K +43.8%
Invenomic Capital Management 1.21M +189.36K +18.6%
Millennium Management 220.17K +160.78K +270.7%
Cornercap Investment Counsel 0 -158.71K EXIT
Geode Capital Management 154.47K -154.32K -50.0%

Financial report summary

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Competition
Team
Risks
  • Due to our dependency on customers in the oil and gas industry, we are susceptible to prolonged negative trends relating to this industry that could adversely affect our operating results.
  • We may be affected by climate change and market or regulatory responses to climate change
  • Our long-term growth strategy may include acquisitions. We may not be able to identify suitable acquisition candidates or integrate acquired businesses successfully, which may adversely impact our results. Furthermore, acquisitions that we have completed or may complete in the future could expose us to a number of unanticipated operational and financial risks.
  • Our international operations are subject to risks relating to non-U.S. operations.
  • We expect to continue expanding and our success depends on how effectively we manage our growth.
  • Our operating results could be adversely affected by a reduction in business with our significant customers.
  • An accident or incident involving our asset protection solutions could expose us to claims, harm our reputation and adversely affect our ability to compete for business and, as a result, harm our operating performance.
  • Many of the sites at which we work are inherently dangerous workplaces. If we fail to maintain a safe work environment, we may incur losses and lose business.
  • If our software or system produces inaccurate information or are incompatible with the systems used by our customers and
  • make us unable to successfully provide our solutions, it could lead to a loss of revenues and customers.
  • If we are unable to attract and retain a sufficient number of trained certified technicians, engineers and scientists at competitive wages, our operational performance may be harmed and our costs may increase.
  • We operate in competitive markets and if we are unable to compete successfully, we could lose market share and revenues and our margins could decline.
  • The success of our businesses depends, in part, on our ability to develop new asset protection solutions, increase the functionality of our current offerings and meet the needs and demands of our customers.
  • The seasonal nature of our business reduces our revenues and profitability in the winter and summer and related cash flows.
  • Our business, and the industries we currently serve, are currently subject to governmental regulation, and may become subject to modified or new government regulation that may negatively impact our ability to market our asset protection solutions.
  • A significant stockholder has significant influence over the direction of our business. The concentrated ownership of our common stock may prevent other stockholders from influencing significant corporate decisions.
  • Our stock price could fluctuate for numerous reasons, including variations in our results.
  • We currently have no plans to pay dividends on our common stock.
  • Shares eligible for future sale may cause the market price for our common stock to decline even if our business is doing well.
  • Provisions of our charter, bylaws and of Delaware law could discourage, delay or prevent a change of control of our company, which may adversely affect the market price of our common stock.
  • Our credit agreement contains financial and operating restrictions that may limit our access to credit. If we fail to comply with financial or other covenants in our credit agreement, we may be required to repay indebtedness to our existing lenders, which may harm our liquidity.
  • Deteriorations in economic conditions in certain markets or other factors may cause us to recognize additional impairment charges for our goodwill.
  • We may face risks regarding our information technology and security.
  • We are subject to privacy and data security/protection laws in the jurisdictions in which we operate and may be exposed to substantial costs and liabilities associated with such laws and regulations.
  • Events such as natural disasters, industrial accidents, epidemics, pandemics, war and acts of terrorism, and adverse weather conditions could disrupt our business or the business of our customers, which could significantly harm our operations, financial results and cash flow.
  • If we lose key members of our senior management team upon whom we are dependent, we may be less effective in managing our operations and may have more difficulty achieving our strategic objectives.
  • Intellectual property may impact our business and results of operations.
  • We may require additional capital to support business growth, which might not be available.
Management Discussion
  • Revenue was $179.0 million for the three months ended June 30, 2022, an increase of $1.4 million, or 0.8%, compared with the three months ended June 30, 2021. Revenue for the six months ended June 30, 2022 was $340.7 million, an increase of $9.3 million, or 2.8%, compared with the six months ended June 30, 2021.
  • In the three months ended June 30, 2022, total revenue increased 0.8% versus the prior year comparable period due predominantly to a low single-digit organic increase. Services segment revenue increased 3.1% due to single-digit organic growth and International segment revenue decreased (7.3)%, due predominantly to low double-digit unfavorable impact of foreign exchange rates which was offset by low single-digit organic growth. Products and Systems segment revenue decreased by $0.6 million, due to decreased sales volume as compared to the prior period.
  • Oil and gas customer revenue comprised approximately 57% and 54% of total revenue for the three months ended June 30, 2022 and 2021, respectively. Aerospace and defense customer revenue comprised approximately 13% and 10% of total revenue for the three months ended June 30, 2022 and 2021, respectively. The Company’s top ten customers comprised approximately 33% of total revenue for the three months ended June 30, 2022, as compared to 35% for the three months ended June 30, 2021, with no customer accounting for 10% or more of total revenue in either three-month period.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: agent, avoid, bear, BofA, carryforward, catastrophic, chain, Chase, driver, Environmental, equal, ESG, Euro, evidence, Exhibit, guaranteed, JPMorgan, jurisdiction, lender, longer, maximum, mid, objective, Overnight, preliminary, Social, SOFR, spread, subsided, Syndication
Removed: driven, enable, paydown, travel