---
schema_version: "secwatch.filing_event.v1"
accession: "0001436126-23-000034"
form_type: "8-K/A"
ticker: "MG"
cik: "0001436126"
company_name: "Mistras Group, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T12:41:03.865165+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MISTRAS Q2 revenue $176M (-1.7% YoY); net income $0.3M vs $4.6M; guidance cut

## Summary
- Q2 revenue $176M, down 1.7% YoY; GAAP net income $0.3M vs $4.6M prior year.
- Adjusted EBITDA $15.3M, down 16.4% from $18.3M; H1 Adj EBITDA up 7.9% to $25.7M.
- Project Phoenix cost savings $6.2M annualized, $5.1M expected in 2023; SG&A cut $1.3M sequentially.
- Updated 2023 guidance: revenue $700-720M, Adj EBITDA $68-71M, Free Cash Flow $23-25M.
- Operating cash flow $18.3M H1, up 134.6%; gross debt $183.7M, down $5.6M in Q2.

## SEC filing metadata
- accession: 0001436126-23-000034
- form_type: 8-K/A
- ticker: MG
- cik: 0001436126
- company_name: Mistras Group, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1436126/000143612623000034/0001436126-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1436126/000143612623000034/mg-20230802.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001436126-23-000034
- JSON: https://secwatch.observer/filing/0001436126-23-000034.json
- Plain text: https://secwatch.observer/filing/0001436126-23-000034.txt

## Key facts
- Earnings Releases
  Mistras Group, Inc. reported second quarter and six months ended June 30, 2023 results: revenue Revenue of $176.0 million, net income GAAP Net income of $0.3 million.
  - Period: second quarter and six months ended June 30, 2023
  - Revenue: Revenue of $176.0 million
  - Net income: GAAP Net income of $0.3 million
  - Result: reported results
  source text: asset protection solutions, reported financial results for its second quarter and six months ended June 30, 2023. Highlights of the Second Quarter 2023* • Revenue of $176.0 million, down 1.7% • Gross profit of $49.7 million, with gross profit margin of 28.2% • GAAP Net income of $0.3 million, with Adjusted EBITDA of $15.3 million • Operating Cash Flow of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1436126/000143612623000034/0001436126-23-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.