MG - Mistras Group Inc. (MG) Q4 2023 Earnings Call Transcript

2024-03-07 15:35:23 ET

Mistras Group, Inc. (MG)

Q4 2023 Earnings Conference Call

March 7, 2024 9:00 AM ET

Company Participants

Manny Stamatakis - Chairman of the Board and Interim President and Chief Executive Officer

Ed Prajzner - Senior Executive Vice President and Chief Financial Officer

Conference Call Participants

Mitchell Pinheiro - Sturdivant & Co.

Chris Sakai - Singular Research

Tim Moore - EF Hutton

Brian Russo - Sidoti

Presentation

Operator

Thank you for joining Mistras Group’s Conference Call for its Fourth Quarter and Fiscal Year Ended December 31st, 2023. Participating on the call from Mistras Group will be Manny Stamatakis, the company’s Chairman of the Board and Interim President and Chief Executive Officer; and Ed Prajzner, Senior Executive Vice President and Chief Financial Officer.

Before we begin today’s conference, I want to remind everyone that remarks made during this conference call will include forward-looking statements. The company’s actual results could differ materially from those projected. Some of those factors that can cause actual results to differ are discussed in the company’s most recent annual report on Form 10-K and other reports filed with the SEC.

The discussion in the conference call will also include certain financial measures that are not prepared in accordance with US GAAP. Reconciliation of these non-US GAAP financial measures to the most directly comparable US GAAP financial measures can be found in the tables contained in yesterday’s press release and the company’s related current report on Form 8-K. These reports are available on the company’s website in the Investors section on the SEC’s website.

I will now turn the conference over to Manny Stamatakis.

Manny Stamatakis

Good morning, everyone. Thank you for joining us today. We finished the year with fourth quarter results exceeding expectations, with revenues up 8% and adjusted EBITDA up nearly 22% from the same quarter a year ago. Although this is a small sample, this performance is evidence of the effectiveness of the transformative impact of Project Phoenix, our EBITDA improvement program....

For further details see: