Filing Flows › Mistras Group (MG) › Q3 2026
Mistras Group (MG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 2, 2026
Mistras Group (MG) reported revenue of $205M for the third quarter 2026 (Q3 2026), +5% from a year earlier and +6% from the quarter before. Operating margin was 7.4%, net earnings $6.9M (3.4% of revenue).
Mistras Group, Q3 2026: revenue $205M (+5% year over year), operating margin 7.4%, net earnings $6.9M, operating cash flow $11.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $205M | +6% | +5% |
| Gross profit | $62.0M | +10% | +7% |
| Operating profit | $15.0M | +16% | -26% |
| Net earnings | $6.9M | -9% | -48% |
| Operating cash flow | $11.7M | -21% | +163% |
| Free cash flow | $686K | -93% | — |
What changed
Revenue was $204.6M in Q3 2026, up 5% year over year and up 6% from the previous quarter. Oil & Gas was the largest line at 49% of revenue. Infrastructure, Research & Engineering added $7.4M year over year (up 70%), 81% of the total change. Petrochemical declined 34%.
Gross margin was 30.3%, up 0.6 points from Q3 2025. Operating profit was $15.0M, a 7.4% margin (down 3.1 points year over year). Operating profit fell $5.3M even though revenue rose $9.1M versus Q3 2025, so costs grew faster than sales. Operating expenses grew 24% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+100%). Net earnings were $6.9M, down 47% year over year. The effective tax rate was 37.7%.
Operating cash flow was $11.7M (up 163% year over year), 170% of net earnings. Non-cash charges added back $8.9M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items used $5.8M. Capital expenditures of $11.0M left free cash flow of $686K.
Questions
What was Mistras Group's revenue in the third quarter 2026?
Mistras Group (MG) reported revenue of $205M for the third quarter 2026 (Q3 2026), +5% from a year earlier and +6% from the quarter before.
Was Mistras Group profitable in the third quarter 2026?
Operating profit was $15.0M (7.4% of revenue) and net earnings $6.9M.
Source: Mistras Group 10-Q on SEC EDGAR.