MISTRAS Group, Inc. reported consolidated revenue of $161.6 million for the first quarter of 2025, a decrease of 12.4% from the prior year period. The company recorded a GAAP net loss attributable to Mistras Group, Inc. of $3.2 million, or ($0.10) per diluted share, compared to net income of $1.0 million, or $0.03 per diluted share, in Q1 2024.
The revenue decline was primarily driven by a $16.6 million decrease in North America Oil and Gas market revenues, attributed to modest spring turnaround activity and unexpected softness in the Midstream sector. The Aerospace & Defense segment also experienced a 7.7% revenue decrease, impacted by macroeconomic uncertainty and customer delays.
Despite the revenue headwinds, the gross profit margin improved by 30 basis points to 25.3%, due to lower healthcare claims expense and a favorable sales mix. Adjusted EBITDA decreased by 25.4% to $12.0 million. The company did not provide full-year 2025 guidance, citing unprecedented market uncertainty due to tariffs and changes to U.S. trade policy, as well as the new CEO's ongoing portfolio review.
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