Filing Flows › Mistras Group (MG) › Q1 2026
Mistras Group (MG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Mistras Group (MG) reported revenue of $169M for the first quarter 2026 (Q1 2026), +5% from a year earlier and -7% from the quarter before. Operating margin was 2.8%, net earnings $2.4M (1.4% of revenue).
Mistras Group, Q1 2026: revenue $169M (+5% year over year), operating margin 2.8%, net earnings $2.4M, operating cash flow $2.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $169M | -7% | +5% |
| Gross profit | $44.7M | -13% | +9% |
| Operating profit | $4.7M | -63% | — |
| Net earnings | $2.4M | -37% | — |
| Operating cash flow | $2.8M | -91% | -50% |
What changed
Revenue was $169.0M in Q1 2026, up 5% year over year and down 7% from the previous quarter. Oil & Gas was the largest line at 51% of revenue. Aerospace & Defense added $7.2M year over year (up 35%), 98% of the total change. Other Process Industries declined 12%.
Gross margin was 26.5%, up 1.2 points from Q1 2025. Operating profit was $4.7M, a 2.8% margin (up 3.4 points year over year). Operating expenses fell 4% while revenue rose 5%. Net earnings were $2.4M. The effective tax rate was 13.8%.
Operating cash flow was $2.8M (down 50% year over year), 119% of net earnings. Non-cash charges added back $8.0M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $8.8M. Capital expenditures of $6.0M exceeded it, leaving free cash flow of −$3.2M.
Questions
What was Mistras Group's revenue in the first quarter 2026?
Mistras Group (MG) reported revenue of $169M for the first quarter 2026 (Q1 2026), +5% from a year earlier and -7% from the quarter before.
Was Mistras Group profitable in the first quarter 2026?
Operating profit was $4.7M (2.8% of revenue) and net earnings $2.4M.
Source: Mistras Group 10-Q on SEC EDGAR.