Mistras Group Inc (MG) said after close Thursday that it earned $0.18 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $179.4 million, missing estimates by $3.4 million.
In the same quarter a year ago, the company earned $0.16 per share on revenue of $178.5 million.
The stock is up 10.02% to $5.82 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 52. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
MISTRAS Group Inc provides asset protection solutions and systems. The company evaluates the structural integrity and reliability of critical energy, industrial, and public infrastructure. The company's three operating segments are Service, International and Products and Systems, of which key revenue is derived from the Services segment. Services segment provides asset protection solutions predominantly in North America, with the largest concentration in the United States, followed by Canada, consisting primarily of non-destructive testing, and inspection. The asset protection solutions include field inspections, consulting, maintenance, data management, access, monitoring and laboratory quality assurance.
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Mistras Group Inc Up 10.02% To $5.82 After Earnings Beat
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