secwatch.observer — SEC 8-K summary
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Issuer:     Mistras Group, Inc. (MG)
CIK:        0001436126
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001436126-23-000049
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MISTRAS Q3 net loss $10.3M; lowers 2023 guidance; Project Phoenix targets $30M 2024 benefit
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- Q3 revenue $179.4M (+0.5% YoY); net loss $10.3M from $13.8M goodwill impairment in International segment.
- GAAP diluted EPS -$0.34; adjusted EPS ex special items $0.18; Adj. EBITDA $20.9M (+12.5% YoY).
- 2023 guidance lowered: revenue $695-705M, Adj. EBITDA $65-68M, free cash flow $7-10M.
- Project Phoenix to deliver ~$24M annual cost savings by 2024; $9M realized in 2023; strategic pricing adds $1M revenue in 2023.
- Preliminary 2024 outlook: single-digit revenue growth; Adj. EBITDA >$88M (all-time high) from Project Phoenix and pricing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1436126/000143612623000049/0001436126-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1436126/000143612623000049/mg-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001436126-23-000049

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