--- title: "Mistras | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 193.13 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295455762.md" datetime: "2026-08-10T21:51:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295455762.md) - [en](https://longbridge.com/en/news/295455762.md) - [zh-HK](https://longbridge.com/zh-HK/news/295455762.md) --- # Mistras | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 193.13 M Revenue: As of FY2026 Q2, the actual value is USD 193.13 M, beating the estimate of USD 189.32 M. EPS: As of FY2026 Q2, the actual value is USD 0.23, missing the estimate of USD 0.25. EBIT: As of FY2026 Q2, the actual value is USD 13.96 M. ### Financial Highlights for Q2 2026 #### Revenue Mistras Group, Inc. reported revenue of $193.1 million, an increase of 4.2% year-over-year, driven by demand growth in Infrastructure, Power Generation, and Aerospace & Defense end markets. **Segment Revenue**: North America: $156,629 thousand. International: $38,010 thousand. Products and Systems: $3,918 thousand. Corporate and eliminations: - $5,425 thousand. **Revenue by Industry**: Oil & Gas: $94,348 thousand. Aerospace & Defense: $27,168 thousand. Industrials: $20,461 thousand. Power Generation & Transmission: $14,911 thousand. Other Process Industries: $10,383 thousand. Infrastructure, Research & Engineering: $14,227 thousand. Petrochemical: $3,600 thousand. Other: $8,034 thousand. **Revenue by Type**: Integrated Field Solutions: $164,186 thousand. In-Laboratory Services: $28,946 thousand. #### Gross Profit Gross profit was $56.4 million, reflecting a gross profit margin of 29.2%, which increased by 10 basis points. #### Operating Profit Income from operations was $12.9 million, an increase of $4.5 million or 53.6% compared to the prior year. #### Net Income GAAP net income was $7.6 million, while non-GAAP net income was $9.1 million. #### Adjusted EBITDA (non-GAAP) Adjusted EBITDA reached a record $25.8 million, an increase of 7.0%, with an Adjusted EBITDA margin of 13.3%, up 30 basis points. #### Operating Costs - Cost of revenue: $130,965 thousand. - Selling, general and administrative expenses: $38,722 thousand. - Reorganization and other costs: $1,527 thousand. - Environmental expense: $460 thousand. - Research and engineering: $243 thousand. - Depreciation and amortization: $2,547 thousand. - Interest expense: $4,138 thousand. - Provision for income taxes: $2,269 thousand. ### Financial Highlights for Six Months Ended June 30, 2026 #### Revenue Revenue for the first half of 2026 was $362.2 million, an increase of 4.4%, driven by demand growth in Infrastructure, Power Generation, and Aerospace & Defense end markets. **Segment Revenue**: North America: $291,950 thousand. International: $74,300 thousand. Products and Systems: $6,571 thousand. Corporate and eliminations: - $10,655 thousand. **Revenue by Industry**: Oil & Gas: $179,830 thousand. Aerospace & Defense: $54,807 thousand. Industrials: $39,104 thousand. Power Generation & Transmission: $21,436 thousand. Other Process Industries: $19,398 thousand. Infrastructure, Research & Engineering: $27,515 thousand. Petrochemical: $7,436 thousand. Other: $12,640 thousand. **Revenue by Type**: Integrated Field Solutions: $304,047 thousand. In-Laboratory Services: $58,119 thousand. #### Gross Profit Gross profit was $101.2 million, reflecting a gross profit margin of 27.9%, an increase of 60 basis points. #### Operating Profit Income from operations was $17.6 million, an increase of $10.2 million or 137.7% compared to the prior year period. #### Net Income GAAP net income was $10.0 million, while non-GAAP net income was $11.7 million. #### Adjusted EBITDA (non-GAAP) Adjusted EBITDA was $40.1 million, an increase of 10.9%, with an Adjusted EBITDA margin of 11.1%, up 70 basis points. #### Operating Costs - Cost of revenue: $249,782 thousand. - Selling, general and administrative expenses: $75,708 thousand. - Reorganization and other costs: $2,002 thousand. - Environmental expense: $329 thousand. - Research and engineering: $464 thousand. - Depreciation and amortization: $5,046 thousand. - Interest expense: $7,017 thousand. - Provision for income taxes: $2,647 thousand. ### Cash Flow & Debt #### Operating Cash Flow Net cash provided by operating activities was $17.7 million in the first half of 2026, an increase from net cash used of - $3.6 million in the prior year period. #### Free Cash Flow (non-GAAP) Free cash flow was $3.7 million in the first half of 2026, compared to - $15.9 million in the prior year comparable period. #### Gross Debt Gross debt was $172.1 million as of June 30, 2026, a decrease from $178.0 million as of December 31, 2025. #### Net Debt (non-GAAP) Net debt was $150.1 million as of June 30, 2026. #### Debt Leverage Ratio The trailing 12-month total consolidated debt leverage ratio was 2.2x as of June 30, 2026, which is the lowest since 2018 and well within the credit agreement’s requirement of 3.75x. ### Outlook Guidance Mistras Group, Inc. is increasing its full-year 2026 guidance, projecting revenue between $740.0 million and $755.0 million and Adjusted EBITDA between $92.0 million and $95.0 million. This updated guidance reflects continued strength in strategic growth markets, partially offset by reduced activity in the Oil & Gas market due to ongoing macroeconomic factors. The company anticipates favorable demand trends in Aerospace & Defense and Infrastructure end markets will support growth for the remainder of the year. ### Related Stocks - [MG.US](https://longbridge.com/en/quote/MG.US.md) ## Related News & Research - [MG: Operational excellence drives margin growth and robust outlook, with disciplined capital returns](https://longbridge.com/en/news/295830220.md) - [Renaissance Technologies LLC Sells 81,100 Shares of Mistras Group Inc $MG](https://longbridge.com/en/news/295633730.md) - [Shareholders Will Be Pleased With The Quality of Mistras Group's (NYSE:MG) Earnings](https://longbridge.com/en/news/286824922.md) - [Examining the Future: MISTRAS Group's Earnings Outlook](https://longbridge.com/en/news/277650337.md) - [Mistras Group 10-K: Revenue $724.0M, EPS $0.53](https://longbridge.com/en/news/278766393.md)