MISTRAS Group Inc (NYSE:MG)
$ 8.78 -0.01 (-0.11%) Market Cap: 271.89 Mil Enterprise Value: 480.57 Mil PE Ratio: 0 PB Ratio: 1.45 GF Score: 64/100
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Q2 2023 Mistras Group Inc Earnings Call Transcript

Aug 03, 2023 / 01:00PM GMT
Release Date Price: $6.12 (-20.93%)
Operator

Good day, and thank you for standing by. Welcome to the MISTRAS Group conference call. (Operator Instructions) I would now like to hand the conference over to your speaker today, Dennis Bertolotti, CEO. Please go ahead.

Dennis M. Bertolotti
Mistras Group, Inc. - President, CEO & Director

Okay. Thank you, Brittany, and good morning, everyone. Thank you for joining us today. During the second quarter of 2023, this just progressed further towards our strategic efforts to streamline the organization and fine-tune our strategy to unlock the inherent value of our business.

Although we continue to generate revenue growth in many of our key markets, the impact of decreased activity with one of our defense contracts offset these gains at a consolidated level. Consequently, total revenue was down marginally adjusted for the effect of FX exchange. There were several bright spots related to revenue growth drivers in the second quarter of '23, including certain key markets which achieved record revenue performance. In particular, our West Penn acquisition, a

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