Filing Flows › Mistras Group (MG) › Q2 2026 › vs Q1 2026
Mistras Group (MG) Q2 2026 vs Q1 2026 (quarter over quarter)
Mistras Group's revenue rose $24.1M (+14%) from $169M in Q1 2026 to $193M in Q2 2026. The biggest changes: Oil & Gas +$8.9M (+10%); Power Generation & Transmission +$8.4M (+129%); Other +$3.4M (+74%). Gross margin 29.2% against 26.5% (+2.8 pts).
Mistras Group, Q2 2026: revenue $193M (+4% year over year), operating margin 6.7%, net earnings $7.6M, operating cash flow $14.9M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 29.2% | 26.5% | +2.8 pts |
| Operating margin | 6.7% | 2.8% | +3.9 pts |
| Net margin | 3.9% | 1.4% | +2.5 pts |
| Free cash flow margin | 5.3% | -1.9% | +7.1 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Oil & Gas | $94.3M | $85.5M | $8.9M | +10% |
| Aerospace & Defense | $27.2M | $27.6M | −$471K | -2% |
| Industrials | $20.5M | $18.6M | $1.8M | +10% |
| Power Generation & Transmission | $14.9M | $6.5M | $8.4M | +129% |
| Infrastructure, Research & Engineering | $14.2M | $13.3M | $939K | +7% |
| Other Process Industries | $10.4M | $9.0M | $1.4M | +15% |
| Other | $8.0M | $4.6M | $3.4M | +74% |
| Petrochemical | $3.6M | $3.8M | −$236K | -6% |
| Revenue | $193M | $169M | $24.1M | +14% |
| Gross profit | $56.4M | $44.7M | $11.7M | +26% |
| Cost of revenue | $137M | $124M | $12.4M | +10% |
| Operating profit | $12.9M | $4.7M | $8.3M | +177% |
| Operating expenses | $43.5M | $40.0M | $3.4M | +9% |
| Pre-tax earnings | $9.8M | $2.7M | $7.1M | +259% |
| Other expense, net | $3.1M | $1.9M | $1.2M | +61% |
| Research & development | $243K | $221K | $22K | +10% |
| SG&A | $38.7M | $37.0M | $1.7M | +5% |
| Other operating costs | $4.5M | $2.8M | $1.7M | +59% |
| Net earnings | $7.6M | $2.4M | $5.2M | +220% |
| Income tax | $2.3M | $378K | $1.9M | +500% |
| Depreciation & amortization | $8.3M | $8.0M | $285K | +4% |
| Share-based compensation | $2.6M | $1.3M | $1.3M | +104% |
| Working capital & other | $3.5M | $8.8M | −$5.3M | -61% |
| Operating cash flow | $14.9M | $2.8M | $12.1M | +431% |
| Free cash flow (OCF − capex) | $10.1M | −$3.2M | $13.3M | — |
| Capital expenditures | $4.8M | $6.0M | −$1.2M | -20% |
Questions
How much did Mistras Group's revenue grow quarter over quarter in Q2 2026?
Mistras Group's revenue rose $24.1M (+14%) from $169M in Q1 2026 to $193M in Q2 2026.
What drove Mistras Group's revenue change in Q2 2026?
Oil & Gas +$8.9M (+10%); Power Generation & Transmission +$8.4M (+129%); Other +$3.4M (+74%).