Filing Flows › Mistras Group (MG) › Q2 2026 › vs Q2 2025
Mistras Group (MG) Q2 2026 vs Q2 2025 (year over year)
Mistras Group's revenue rose $7.7M (+4%) from $185M in Q2 2025 to $193M in Q2 2026. The biggest changes: Oil & Gas −$8.5M (-8%); Infrastructure, Research & Engineering +$6.2M (+77%); Aerospace & Defense +$3.2M (+13%). Gross margin 29.2% against 29.1% (+0.1 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 29.2% | 29.1% | +0.1 pts |
| Operating margin | 6.7% | 4.5% | +2.2 pts |
| Net margin | 3.9% | 1.7% | +2.2 pts |
| Free cash flow margin | 5.3% | -7.9% | +13.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Oil & Gas | $94.3M | $103M | −$8.5M | -8% |
| Aerospace & Defense | $27.2M | $24.0M | $3.2M | +13% |
| Industrials | $20.5M | $19.6M | $857K | +4% |
| Power Generation & Transmission | $14.9M | $11.8M | $3.1M | +26% |
| Infrastructure, Research & Engineering | $14.2M | $8.1M | $6.2M | +77% |
| Other Process Industries | $10.4M | $11.0M | −$666K | -6% |
| Other | $8.0M | $5.0M | $3.1M | +62% |
| Petrochemical | $3.6M | $3.1M | $487K | +16% |
| Revenue | $193M | $185M | $7.7M | +4% |
| Gross profit | $56.4M | $53.9M | $2.5M | +5% |
| Cost of revenue | $137M | $131M | $5.2M | +4% |
| Operating profit | $12.9M | $8.4M | $4.5M | +54% |
| Operating expenses | $43.5M | $45.5M | −$2.0M | -4% |
| Pre-tax earnings | $9.8M | $4.2M | $5.6M | +134% |
| Other expense, net | $3.1M | $4.2M | −$1.1M | -26% |
| Research & development | $243K | $269K | −$26K | -10% |
| SG&A | $38.7M | $39.8M | −$1.1M | -3% |
| Other operating costs | $4.5M | $5.5M | −$921K | -17% |
| Net earnings | $7.6M | $3.1M | $4.4M | +142% |
| Income tax | $2.3M | $1.1M | $1.2M | +113% |
| Depreciation & amortization | $8.3M | $7.7M | $562K | +7% |
| Share-based compensation | $2.6M | $2.3M | $229K | +10% |
| Working capital & other | $3.5M | $22.4M | −$19.0M | -85% |
| Operating cash flow | $14.9M | −$9.3M | $24.2M | — |
| Free cash flow (OCF − capex) | $10.1M | −$14.7M | $24.9M | — |
| Capital expenditures | $4.8M | $5.4M | −$685K | -13% |
Questions
How much did Mistras Group's revenue grow year over year in Q2 2026?
Mistras Group's revenue rose $7.7M (+4%) from $185M in Q2 2025 to $193M in Q2 2026.
What drove Mistras Group's revenue change in Q2 2026?
Oil & Gas −$8.5M (-8%); Infrastructure, Research & Engineering +$6.2M (+77%); Aerospace & Defense +$3.2M (+13%).