secwatch.observer — SEC 8-K summary
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Issuer:     Mistras Group, Inc. (MG)
CIK:        0001436126
Form:       8-K/A
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001436126-23-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1436126/000143612623000034/0001436126-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1436126/000143612623000034/mg-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001436126-23-000034

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