MISTRAS Group, Inc. announced full-year 2024 consolidated revenue of $729.6 million, a 3.4% increase compared to the prior year. The company reported a net income of $19.0 million, or $0.60 per diluted share, representing a 208.6% increase from 2023.
Adjusted EBITDA for the full year 2024 reached $82.5 million, an increase of 25.3% over the prior year, driven by a favorable business mix and overhead cost containment initiatives. Net cash provided by operating activities significantly improved to $50.1 million, up 87.4%, and free cash flow increased to $27.1 million, up 775.9% year-over-year.
Selling, general, and administrative expenses decreased by $10.4 million, or 6.2%, to $156.4 million for the full year, reflecting ongoing cost calibration. Gross debt was reduced by $20.8 million to $169.6 million as of December 31, 2024. The company did not provide full-year 2025 guidance due to market uncertainty and ongoing portfolio review by the new CEO, but aims for profitable growth.
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