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Mistras Group inc   (NYSE: MG)
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Description of Mistras Group Inc's Business Segments


Mistras Group Inc.: Overview of Segments, Products, Services, and International Operations

Mistras Group Inc. is a leading global provider of technology-enabled asset protection solutions, aimed at evaluating the structural integrity and reliability of critical energy, industrial, and public infrastructure. Its offerings span three major operating segments: Services, Products and Systems, and International Operations.

1. Operating Segments

A. Services Segment

The Services segment is primarily focused on asset protection solutions, chiefly in North America, with a strong presence in the United States and a burgeoning business in Canada. This segment encompasses various non-destructive testing (NDT), inspection, and engineering services necessary to assess the safety and longevity of many kinds of infrastructure. Services offered include:

- Traditional Non-Destructive Testing (NDT) Services: This involves various inspection methods such as visual assessments, ultrasonic testing, and magnetic flux leakage. These techniques are critical during maintenance shutdowns or capital construction projects.

- Advanced NDT Services: Mistras provides sophisticated NDT techniques such as automated ultrasonic testing, phased array ultrasonic testing, and digital radiography, requiring highly skilled personnel and intricate equipment.

- Mechanical Integrity Services: These services ensure compliance with regulatory standards, enhance safety, and facilitate effective maintenance schedules through predictive and preventive maintenance strategies.

- Destructive Testing Services: Mistras-GMA, a subsidiary in Germany, specializes in destructive testing (DT), offering services to evaluate material properties across a spectrum of industries, including aerospace, automotive, and power generation.

- Corrosion Monitoring and Material Analysis: These services aid clients in making informed decisions about asset maintenance or retirement.

The integration of traditional NDT, advanced NDT, and predictive maintenance enables clients to deploy comprehensive asset management programs tailored to their specific needs.

B. Products and Systems Segment

This segment is dedicated to the design, manufacture, sale, installation, and servicing of asset protection products and systems, primarily within the United States. Key offerings include:

- Acoustic Emission (AE) Products: Mistras leads in AE sensor technology, providing equipment used to monitor, detect, and analyze real-time activity in structural components.

- Ultrasonic Testing (UT) Systems: A wide range of ultrasonic equipment, from automated scanners to portable devices, is designed for sizing and detecting flaws in various materials.

- Digital Radiography Systems: Advanced forms of radiography, including Computed Radiography and Real-Time Radiography, offer efficient solutions for industrial inspection needs.

These products support Mistras asset protection solutions and can be provided as systems or individual components, depending on customer capacity.

C. International Segment

The International segment expands Mistras footprint beyond North America, offering similar services and products in regions such as Europe, the Middle East, Africa, Asia, and South America. However, the company does not serve customers in China and South Korea through this segment, as those regions fall under the Products and Systems segment. The international operations leverage localized expertise and experience to cater to diverse regional infrastructure needs.

Comprehensive Asset Protection Solutions

Mistras overarching goal is to provide a one source for asset protection solutions.By offering cutting-edge technology, expertise in mechanical integrity, predictive maintenance, and a robust software suite, Mistras crafts customized solutions. Its integrated approach combines:

- Engineering and Consulting Services (AIMS): The various consulting capabilities include asset integrity management, operational support, project planning, and safety reviews.

- Software Solutions: Mistras provides comprehensive software for inspection data management, risk management, and data analysis, such as the PCMS enterprise software that offers monitoring plans and alerts.

- On-line Monitoring: Mistras features various monitoring options, including temporary, periodic, and continuous monitoring for both static and dynamic assets.

International Operations

Mistras Group Inc.s international operations highlight its commitment to global presence and service diversity. The companys ability to tailor its offerings to local industry needs enhances its market competitiveness in global regions. This expansion aids countries in elevating their infrastructure safety standards while reinforcing Mistras reputation as a trusted partner in asset protection solutions.

In summary, Mistras Group Inc. positions itself as a comprehensive provider of asset protection solutions, catering to a wide range of industries. Its integration of innovative products and services, bolstered by a strong international presence, establishes the company as a leader in ensuring the integrity and reliability of critical infrastructure worldwide.

 

Composition of Mistras Group inc Revenues by Segments

 
United States    75.86 % of total Revenue
Other Americas    8.41 % of total Revenue
Europe    18.09 % of total Revenue
Asia-Pacific    1.3 % of total Revenue
Oil Gas    61.94 % of total Revenue
Aerospace Defense    13.09 % of total Revenue
Industrials    11.91 % of total Revenue
Power generation Transmission    2.98 % of total Revenue
Other Process Industries    6.58 % of total Revenue
Infrastructure Research Engineering    4.63 % of total Revenue
Petrochemical    1.69 % of total Revenue
Other    0.84 % of total Revenue
segments    105.98 % of total Revenue
North America    82.69 % of total Revenue
North America United States    73.34 % of total Revenue
North America Other Americas    8.61 % of total Revenue
North America Europe    0.43 % of total Revenue
North America Asia-Pacific    0.31 % of total Revenue
North America Oil Gas    54.99 % of total Revenue
North America Aerospace Defense    8.99 % of total Revenue
North America Industrials    7.5 % of total Revenue
North America Power generation Transmission    2.07 % of total Revenue
North America Other Process Industries    4.17 % of total Revenue
North America Infrastructure Research Engineering    2.37 % of total Revenue
North America Petrochemical    1.62 % of total Revenue
North America Other    0.98 % of total Revenue
International    21.31 % of total Revenue
International United States    0.35 % of total Revenue
International Other Americas    1.82 % of total Revenue
International Europe    18.46 % of total Revenue
International Asia-Pacific    0.68 % of total Revenue
International Oil Gas    6.83 % of total Revenue
International Aerospace Defense    4.03 % of total Revenue
International Industrials    4.18 % of total Revenue
International Power generation Transmission    0.63 % of total Revenue
International Other Process Industries    2.4 % of total Revenue
International Infrastructure Research Engineering    1.64 % of total Revenue
International Petrochemical    0.07 % of total Revenue
International Other    1.52 % of total Revenue
Products Systems    1.98 % of total Revenue
Products Systems United States    0.88 % of total Revenue
Products Systems Other Americas    0.01 % of total Revenue
Products Systems Europe    0.48 % of total Revenue
Products Systems Asia-Pacific    0.61 % of total Revenue
Products Systems Oil Gas    0.12 % of total Revenue
Products Systems Aerospace Defense    0.07 % of total Revenue
Products Systems Industrials    0.23 % of total Revenue
Products Systems Power generation Transmission    0.28 % of total Revenue
Products Systems Other Process Industries    0.01 % of total Revenue
Products Systems Infrastructure Research Engineering    0.61 % of total Revenue
Products Systems Other    0.65 % of total Revenue
Corp Elim    -2.3 % of total Revenue
Corp Elim United States    1.29 % of total Revenue
Corp Elim Other Americas    -2.02 % of total Revenue
Corp Elim Europe    -1.28 % of total Revenue
Corp Elim Asia-Pacific    -0.3 % of total Revenue
Corp Elim Other    -2.3 % of total Revenue
InterEliminations Products and Systems    -0.64 % of total Revenue
Products and Systems    1.98 % of total Revenue
Corporate and eliminations    -2.3 % of total Revenue

Q1 three months ended (Mar 31 2025)
Revenues by Business Segments Revenues
(in millions $)
%
(of total Revenues)
United States 118.26 75.86 %
Other Americas 13.12 8.41 %
Europe 28.20 18.09 %
Asia-Pacific 2.03 1.3 %
Oil Gas 96.56 61.94 %
Aerospace Defense 20.40 13.09 %
Industrials 18.57 11.91 %
Power generation Transmission 4.65 2.98 %
Other Process Industries 10.25 6.58 %
Infrastructure Research Engineering 7.22 4.63 %
Petrochemical 2.63 1.69 %
Other 1.32 0.84 %
segments 165.21 105.98 %
North America 128.90 82.69 %
North America United States 114.33 73.34 %
North America Other Americas 13.42 8.61 %
North America Europe 0.67 0.43 %
North America Asia-Pacific 0.49 0.31 %
North America Oil Gas 85.73 54.99 %
North America Aerospace Defense 14.01 8.99 %
North America Industrials 11.69 7.5 %
North America Power generation Transmission 3.22 2.07 %
North America Other Process Industries 6.50 4.17 %
North America Infrastructure Research Engineering 3.70 2.37 %
North America Petrochemical 2.52 1.62 %
North America Other 1.53 0.98 %
International 33.21 21.31 %
International United States 0.54 0.35 %
International Other Americas 2.83 1.82 %
International Europe 28.78 18.46 %
International Asia-Pacific 1.06 0.68 %
International Oil Gas 10.65 6.83 %
International Aerospace Defense 6.28 4.03 %
International Industrials 6.52 4.18 %
International Power generation Transmission 0.99 0.63 %
International Other Process Industries 3.74 2.4 %
International Infrastructure Research Engineering 2.56 1.64 %
International Petrochemical 0.11 0.07 %
International Other 2.37 1.52 %
Products Systems 3.09 1.98 %
Products Systems United States 1.37 0.88 %
Products Systems Other Americas 0.02 0.01 %
Products Systems Europe 0.75 0.48 %
Products Systems Asia-Pacific 0.95 0.61 %
Products Systems Oil Gas 0.19 0.12 %
Products Systems Aerospace Defense 0.12 0.07 %
Products Systems Industrials 0.37 0.23 %
Products Systems Power generation Transmission 0.44 0.28 %
Products Systems Other Process Industries 0.01 0.01 %
Products Systems Infrastructure Research Engineering 0.96 0.61 %
Products Systems Other 1.01 0.65 %
Corp Elim -3.59 -2.3 %
Corp Elim United States 2.02 1.29 %
Corp Elim Other Americas -3.14 -2.02 %
Corp Elim Europe -2.00 -1.28 %
Corp Elim Asia-Pacific -0.47 -0.3 %
Corp Elim Other -3.59 -2.3 %
InterEliminations Products and Systems -1.00 -0.64 %
Products and Systems 3.09 1.98 %
Corporate and eliminations -3.59 -2.3 %
Total 155.89 100 %




Q1 three months ended (Mar 31 2025)
Revenue Growth rates by Segment Y/Y Revenue
%
Q/Q Revenue
%
United States -8.91 % -
Other Americas -32.25 % -
Europe -6.37 % -
Asia-Pacific -60.34 % -
Oil Gas -14.67 % -
Aerospace Defense -7.75 % -
Industrials 22.18 % -
Power generation Transmission -20.49 % -
Other Process Industries -13.84 % -
Infrastructure Research Engineering 9.64 % -
Petrochemical -39.39 % -
Other -75.05 % -
segments -11.47 % -
North America -14.26 % -
North America United States -11.68 % -
North America Other Americas -21.67 % -
North America Europe -42.24 % -
North America Asia-Pacific -81.31 % -
North America Oil Gas -16.79 % -
North America Aerospace Defense -8.9 % -
North America Industrials 31.19 % -
North America Power generation Transmission -10.24 % -
North America Other Process Industries -18 % -
North America Infrastructure Research Engineering -6.82 % -
North America Petrochemical -33.83 % -
North America Other -59.09 % -
International 0.51 % -
International United States 83.11 % -
International Other Americas 23.36 % -
International Europe 0.42 % -
International Asia-Pacific -40.94 % -
International Oil Gas 5.76 % -
International Aerospace Defense -6.7 % -
International Industrials 11.34 % -
International Power generation Transmission -41.44 % -
International Other Process Industries -4.81 % -
International Infrastructure Research Engineering 16.19 % -
International Petrochemical -79.28 % -
International Other 15.84 % -
Products Systems -3.71 % -
Products Systems United States -14.19 % -
Products Systems Other Americas -90.96 % -
Products Systems Europe 15.36 % -
Products Systems Asia-Pacific 21.61 % -
Products Systems Oil Gas 159.72 % -
Products Systems Aerospace Defense 954.55 % -
Products Systems Industrials -16.48 % -
Products Systems Power generation Transmission -23.18 % -
Products Systems Other Process Industries -79.49 % -
Products Systems Infrastructure Research Engineering 134.23 % -
Products Systems Other -39.12 % -
Corp Elim - -
Corp Elim United States - -
Corp Elim Other Americas - -
Corp Elim Europe - -
Corp Elim Asia-Pacific - -
Corp Elim Other - -
InterEliminations Products and Systems - -
Products and Systems -3.71 % -
Corporate and eliminations - -
Total -12.46 % -77.89 %




Q1 three months ended (Mar 31 2025)
Income by Business Segments Income
(in millions $)
%
(Profit Margin)
Total -3.17 -




Q1 three months ended (Mar 31 2025)
Income Growth rates by Segment Y/Y Income
%
Q/Q Income
%
Total - -




Annual Report on Mistras Group inc Divisions, Sales by Country

 
United States   United States Segment contribution to total sales 71.9 % of total Revenue
Other Americas   Other Americas Segment contribution to total sales 12.77 % of total Revenue
Europe   Europe Segment contribution to total sales 17.19 % of total Revenue
Asia-Pacific   Asia-Pacific Segment contribution to total sales 1.63 % of total Revenue
Oil Gas   Oil Gas Segment contribution to total sales 59.41 % of total Revenue
Aerospace Defense   Aerospace Defense Segment contribution to total sales 12.34 % of total Revenue
Industrials   Industrials Segment contribution to total sales 10.16 % of total Revenue
Other Process Industries   Other Process Industries Segment contribution to total sales 7.07 % of total Revenue
Infrastructure Research Engineering   Infrastructure Research Engineering Segment contribution to total sales 4.7 % of total Revenue
Petrochemical   Petrochemical Segment contribution to total sales 2.21 % of total Revenue
Other   Other Segment contribution to total sales 2.4 % of total Revenue
segments   segments Segment contribution to total sales 105.4 % of total Revenue
North America   North America Segment contribution to total sales 84.18 % of total Revenue
North America United States   North America United States Segment contribution to total sales 71.2 % of total Revenue
North America Other Americas   North America Other Americas Segment contribution to total sales 12.07 % of total Revenue
North America Europe   North America Europe Segment contribution to total sales 0.37 % of total Revenue
North America Asia-Pacific   North America Asia-Pacific Segment contribution to total sales 0.54 % of total Revenue
North America Oil Gas   North America Oil Gas Segment contribution to total sales 53.37 % of total Revenue
North America Aerospace Defense   North America Aerospace Defense Segment contribution to total sales 8.95 % of total Revenue
North America Industrials   North America Industrials Segment contribution to total sales 6.28 % of total Revenue
North America Other Process Industries   North America Other Process Industries Segment contribution to total sales 4.59 % of total Revenue
North America Infrastructure Research Engineering   North America Infrastructure Research Engineering Segment contribution to total sales 2.72 % of total Revenue
North America Petrochemical   North America Petrochemical Segment contribution to total sales 2.05 % of total Revenue
North America Other   North America Other Segment contribution to total sales 2.38 % of total Revenue
International   International Segment contribution to total sales 19.28 % of total Revenue
International United States   International United States Segment contribution to total sales 0.23 % of total Revenue
International Other Americas   International Other Americas Segment contribution to total sales 1.3 % of total Revenue
International Europe   International Europe Segment contribution to total sales 17.03 % of total Revenue
International Asia-Pacific   International Asia-Pacific Segment contribution to total sales 0.73 % of total Revenue
International Oil Gas   International Oil Gas Segment contribution to total sales 6 % of total Revenue
International Aerospace Defense   International Aerospace Defense Segment contribution to total sales 3.37 % of total Revenue
International Industrials   International Industrials Segment contribution to total sales 3.62 % of total Revenue
International Other Process Industries   International Other Process Industries Segment contribution to total sales 2.44 % of total Revenue
International Infrastructure Research Engineering   International Infrastructure Research Engineering Segment contribution to total sales 1.5 % of total Revenue
International Petrochemical   International Petrochemical Segment contribution to total sales 0.16 % of total Revenue
International Other   International Other Segment contribution to total sales 1.11 % of total Revenue
Corp Elim   Corp Elim Segment contribution to total sales -1.92 % of total Revenue
Corp Elim United States   Corp Elim United States Segment contribution to total sales -0.36 % of total Revenue
Corp Elim Other Americas   Corp Elim Other Americas Segment contribution to total sales -0.86 % of total Revenue
Corp Elim Europe   Corp Elim Europe Segment contribution to total sales -0.58 % of total Revenue
Corp Elim Asia-Pacific   Corp Elim Asia-Pacific Segment contribution to total sales -0.12 % of total Revenue
Corp Elim Other   Corp Elim Other Segment contribution to total sales -1.92 % of total Revenue
InterEliminations Products and Systems   InterEliminations Products and Systems Segment contribution to total sales 0.57 % of total Revenue
Products and Systems   Products and Systems Segment contribution to total sales 1.94 % of total Revenue
Corporate and eliminations   Corporate and eliminations Segment contribution to total sales -1.92 % of total Revenue
Power Generation and Transmission   Power Generation and Transmission Segment contribution to total sales 5.18 % of total Revenue
North America Power Generation and Transmission   North America Power Generation and Transmission Segment contribution to total sales 3.83 % of total Revenue
International Power Generation and Transmission   International Power Generation and Transmission Segment contribution to total sales 1.08 % of total Revenue
Products   Products Segment contribution to total sales 1.94 % of total Revenue
Products United States   Products United States Segment contribution to total sales 0.83 % of total Revenue
Products Other Americas   Products Other Americas Segment contribution to total sales 0.25 % of total Revenue
Products Europe   Products Europe Segment contribution to total sales 0.38 % of total Revenue
Products Asia-Pacific   Products Asia-Pacific Segment contribution to total sales 0.48 % of total Revenue
Products Oil Gas   Products Oil Gas Segment contribution to total sales 0.04 % of total Revenue
Products Aerospace Defense   Products Aerospace Defense Segment contribution to total sales 0.02 % of total Revenue
Products Industrials   Products Industrials Segment contribution to total sales 0.26 % of total Revenue
Products Power Generation and Transmission   Products Power Generation and Transmission Segment contribution to total sales 0.26 % of total Revenue
Products Other Process Industries   Products Other Process Industries Segment contribution to total sales 0.04 % of total Revenue
Products Infrastructure Research Engineering   Products Infrastructure Research Engineering Segment contribution to total sales 0.48 % of total Revenue
Products Other   Products Other Segment contribution to total sales 0.83 % of total Revenue


Twelve months ended 2024
MG s Annual Revenue by Geography and Business Segments Sales
(in millions $)
%
(of total Sales)
United States 506.95 71.9 %
Other Americas 90.01 12.77 %
Europe 121.18 17.19 %
Asia-Pacific 11.50 1.63 %
Oil Gas 418.92 59.41 %
Aerospace Defense 87.02 12.34 %
Industrials 71.67 10.16 %
Other Process Industries 49.85 7.07 %
Infrastructure Research Engineering 33.16 4.7 %
Petrochemical 15.57 2.21 %
Other 16.94 2.4 %
segments 743.16 105.4 %
North America 593.53 84.18 %
North America United States 502.01 71.2 %
North America Other Americas 85.14 12.07 %
North America Europe 2.59 0.37 %
North America Asia-Pacific 3.79 0.54 %
North America Oil Gas 376.33 53.37 %
North America Aerospace Defense 63.11 8.95 %
North America Industrials 44.31 6.28 %
North America Other Process Industries 32.35 4.59 %
North America Infrastructure Research Engineering 19.16 2.72 %
North America Petrochemical 14.44 2.05 %
North America Other 16.79 2.38 %
International 135.97 19.28 %
International United States 1.61 0.23 %
International Other Americas 9.14 1.3 %
International Europe 120.05 17.03 %
International Asia-Pacific 5.17 0.73 %
International Oil Gas 42.32 6 %
International Aerospace Defense 23.79 3.37 %
International Industrials 25.50 3.62 %
International Other Process Industries 17.19 2.44 %
International Infrastructure Research Engineering 10.61 1.5 %
International Petrochemical 1.13 0.16 %
International Other 7.81 1.11 %
Corp Elim -13.52 -1.92 %
Corp Elim United States -2.54 -0.36 %
Corp Elim Other Americas -6.05 -0.86 %
Corp Elim Europe -4.12 -0.58 %
Corp Elim Asia-Pacific -0.82 -0.12 %
Corp Elim Other -13.52 -1.92 %
InterEliminations Products and Systems 4.00 0.57 %
Products and Systems 13.66 1.94 %
Corporate and eliminations -13.52 -1.92 %
Total 705.11 100 %
Power Generation and Transmission 36.52 5.18 %
North America Power Generation and Transmission 27.04 3.83 %
International Power Generation and Transmission 7.63 1.08 %
Products 13.66 1.94 %
Products United States 5.87 0.83 %
Products Other Americas 1.78 0.25 %
Products Europe 2.66 0.38 %
Products Asia-Pacific 3.36 0.48 %
Products Oil Gas 0.28 0.04 %
Products Aerospace Defense 0.12 0.02 %
Products Industrials 1.86 0.26 %
Products Power Generation and Transmission 1.85 0.26 %
Products Other Process Industries 0.30 0.04 %
Products Infrastructure Research Engineering 3.40 0.48 %
Products Other 5.85 0.83 %


Twelve months ended 2024
MG s Annual Income by Country and Business Segments Income
(in millions $)
%
(Profit Margin)
Total 18.97 2.69 %

Twelve months ended 2024
Annual Revenue and Income Growth by Country and Business Segments % Y/Y Sales Growth % Y/Y Income Growth
United States 1.33 % -
Other Americas 3.54 % -
Europe 12.06 % -
Asia-Pacific 13.7 % -
Oil Gas 0.7 % -
Aerospace Defense 13.01 % -
Industrials 1.53 % -
Other Process Industries 4.71 % -
Infrastructure Research Engineering 13.92 % -
Petrochemical 7.89 % -
Other 0.95 % -
segments 3.69 % -
North America 2.45 % -
North America United States 1.26 % -
North America Other Americas 9.32 % -
North America Europe -29.14 % -
North America Asia-Pacific 86.76 % -
North America Oil Gas -0.76 % -
North America Aerospace Defense 12.7 % -
North America Industrials 4.21 % -
North America Other Process Industries -2.06 % -
North America Infrastructure Research Engineering 15.25 % -
North America Petrochemical 9.24 % -
North America Other 11.05 % -
International 9.29 % -
International United States 72.06 % -
International Other Americas -29.15 % -
International Europe 13.33 % -
International Asia-Pacific 11.34 % -
International Oil Gas 15.57 % -
International Aerospace Defense 14.84 % -
International Industrials -3.02 % -
International Other Process Industries 18.91 % -
International Infrastructure Research Engineering 13.8 % -
International Petrochemical -6.74 % -
International Other -15.04 % -
Corp Elim - -
Corp Elim United States - -
Corp Elim Other Americas - -
Corp Elim Europe - -
Corp Elim Asia-Pacific - -
Corp Elim Other - -
Products and Systems 5.2 % -
Corporate and eliminations - -
Power Generation and Transmission 7.49 % -
North America Power Generation and Transmission 14.56 % -
International Power Generation and Transmission 15.43 % -
Products 5.2 % -
Products United States -1.48 % -
Products Other Americas 109.06 % -
Products Europe 37.78 % -
Products Asia-Pacific -20.97 % -
Products Oil Gas 72.96 % -
Products Aerospace Defense -58.04 % -
Products Industrials 4.74 % -
Products Power Generation and Transmission -50.78 % -
Products Other Process Industries 169.64 % -
Products Infrastructure Research Engineering 7.32 % -
Products Other 57.3 % -



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