The swing to profitability and margin expansion are constructive signals. With guidance reaffirmed, the focus shifts to Q2 for signs of oil & gas recovery and continued execution in strategic markets. Watch for conference call comments on oil & gas outlook and debt reduction progress.
Price Chart
Executive Summary
Mistras Group reported Q1 2026 revenue of $169.0M (+4.6% YoY) and GAAP EPS of $0.07, swinging from a net loss of $(0.10) in the prior year. Adjusted EBITDA rose 18.7% to $14.3M, and the company reaffirmed its full-year guidance of $730-$750M revenue and $91-$93M adjusted EBITDA. The improved profitability and mid-single-digit revenue growth are positive, but continued headwinds in the oil and gas end market remain a risk.
Key Financial Metrics
Key Facts
- Q1 2026 revenue: $169.0M, +4.6% YoY from $161.6M
- GAAP diluted EPS: $0.07 vs -$0.10 in Q1 2025
- Gross margin expanded 120 bps to 26.5%
- Adjusted EBITDA: $14.3M, +18.7% YoY, margin 8.5% (+110 bps)
- Reaffirmed FY 2026 guidance: revenue $730-$750M, adjusted EBITDA $91-$93M
- Oil & gas revenue declined $11.1M due to project deferrals
Financial Impact
Improved profitability with EPS turning positive and margin expansion; revenue growth modest but consistent with guidance
Risk Factors
- Continued headwinds in oil & gas end market due to high crude prices causing project deferrals
- Negative free cash flow of -$4.5M in Q1, compared to -$0.2M a year ago
- Gross debt increased to $181.4M from $178.0M at year-end 2025
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-030733 |
| Document: mg-20260505.htm | 0001628280-26-030733 |
| Document: 0001628280-26-030733-index-headers.html | 0001628280-26-030733 |
| Document: 0001628280-26-030733-index.html | 0001628280-26-030733 |
| Document: 0001628280-26-030733.txt | 0001628280-26-030733 |
| 8-K Data (Synthetic) | 0001628280-26-030733 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 4w ago | Court Ruling | $19.39 $21.06 | ▲ +8.61% | ▲ +8.94% | $20.65 (+6.50%) |
Aug 10, 2026 7w ago | Press Release | $18.59 $19.98 | ▲ +7.48% | ▲ +8.54% | $20.65 (+11.08%) |
Jun 15, 2026 15w ago | Institutional Cluster | $18.50 $16.19 | ▼ −12.49% | ▼ −11.74% | $20.65 (+11.62%) |
May 5, 2026 21w ago | 8-K | $18.53 $17.60 | ▼ −5.02% | ▼ −7.80% | $20.65 (+11.44%) |
Apr 22, 2026 23w ago | Press Release | $18.54 $16.76 | ▼ −9.60% | ▼ −12.77% | $20.65 (+11.38%) |
Mar 5, 2026 30w ago | Press Release | $14.78 $15.30 | ▲ +3.52% | ▲ +7.31% | $20.65 (+39.72%) |
Mar 4, 2026 30w ago | Press Release | $14.78 $15.30 | ▲ +3.52% | ▲ +7.31% | $20.65 (+39.72%) |
US Market Status
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