Mistras Group Terminates Material Definitive Agreement
Ticker: MG · Form: 8-K · Filed: Oct 30, 2024 · CIK: 1436126
Sentiment: neutral
Topics: agreement-termination, financial-statements, exhibits
Related Tickers: MGTS
TL;DR
MGTS terminated a big deal, check the filings for details.
AI Summary
Mistras Group, Inc. filed an 8-K on October 30, 2024, to report the termination of a material definitive agreement. The filing also includes financial statements and exhibits related to this event.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's ongoing operations, financial health, and future strategic direction.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement introduces uncertainty and potential financial repercussions for the company.
Key Players & Entities
- Mistras Group, Inc. (company) — Registrant
- October 30, 2024 (date) — Date of earliest event reported
FAQ
What specific material definitive agreement was terminated by Mistras Group, Inc.?
The filing indicates the termination of a material definitive agreement but does not specify which agreement in the provided text.
When was the termination of the material definitive agreement effective?
The filing states the date of the earliest event reported is October 30, 2024, which is likely related to the termination.
Are there any financial implications disclosed regarding the termination?
The filing mentions financial statements and exhibits are included, suggesting financial information related to the termination may be present within those documents.
What is Mistras Group, Inc.'s principal executive office address?
Mistras Group, Inc.'s principal executive offices are located at 195 Clarksville Road, Princeton Junction, New Jersey, 08550.
What is Mistras Group, Inc.'s IRS Employer Identification Number?
Mistras Group, Inc.'s IRS Employer Identification Number is 22-3341267.
Filing Stats: 1,068 words · 4 min read · ~4 pages · Grade level 12.9 · Accepted 2024-10-30 16:01:07
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value MG New York Stock Exchange
Filing Documents
- mg-20241030.htm (8-K) — 37KB
- a8kexhibit991-q32024.htm (EX-99.1) — 484KB
- imagea.jpg (GRAPHIC) — 13KB
- 0001436126-24-000060.txt ( ) — 690KB
- mg-20241030.xsd (EX-101.SCH) — 2KB
- mg-20241030_lab.xml (EX-101.LAB) — 21KB
- mg-20241030_pre.xml (EX-101.PRE) — 12KB
- mg-20241030_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition On October 30, 2024, Mistras Group, Inc. (the "Company," "we," "us" and "our") issued a press release announcing the financial results for our third quarter of 2024, which ended September 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this report. Disclosure of Non-GAAP Financial Measures In the press release attached, the Company uses the terms "Adjusted EBITDA," "free cash flow," "net debt" and "net income before special items," which are not measures of financial performance under U.S. generally accepted accounting principles ("GAAP"). Also, in the tables to the press release, the non-GAAP financial measures "Segment and Total Company Income (Loss) before Special Items" (which includes operating income (loss) before special items) are presented and reconciled to financial measures under GAAP within the table "Segment and Total Company Income (Loss) from Operations (GAAP) to Income (Loss) from Operations before Special Items (Non-GAAP)." The non-GAAP financial measure "Diluted EPS excluding Special Items," is presented and reconciled to the financial measure under GAAP within the table "Net Income (Loss) (GAAP) and Diluted EPS (GAAP) to Net Income Excluding Special Items (non-GAAP) and Diluted EPS Excluding Special Items (Non-GAAP)." Information about these non-GAAP financial measures are included in the press release. Our management uses and provides these non-GAAP financial measures as a measure of operating performance and liquidity to assist in comparing performance from period to period on a consistent basis, as a measure for planning and forecasting overall expectations for the Company and for evaluating actual results against such expectations. Adjusted EBITDA and free cash flow are also performance evaluation metrics used to determine incentive compensation for the Company's executive officers. We believe that investors and other users of the financial statements benef
01. Financial Statement and Exhibits
Item 9.01. Financial Statement and Exhibits Exhibit No. Description 99.1 Press release issued by Mistras Group, Inc. on October 30, 2024 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MISTRAS GROUP, INC. Date: October 30, 2024 By: /s/ Edward J. Prajzner Name: Edward J. Prajzner Title: Senior Executive Vice President and Chief Financial Officer Exhibit No. Description 99.1 Press release issued by Mistras Group, Inc. on October 30, 2024 3