Mistras sees FY24 revenue $725M-$750M, consensus $723.93M

Sees FY24 adjusted EBITDA $84M-$89M. Sees FY24 free cash flow $34M-$38M. This outlook for 2024 includes approximately $20M in incremental benefit from savings associated with Project Phoenix initiatives in 2024. Stamatakis concluded, “I am extremely encouraged by the strong early returns from the Project Phoenix related actions. The increased discipline and accountability implemented throughout the organization in connection with Project Phoenix have resulted in an increased focus on achieving the goals we have set for revenue growth, efficiency improvements and increased profitability. We are now firmly set on a course to achieve continuous improvement, further integrate Data Analytical Solutions, and uncover other opportunities where our proprietary technologies and extensive knowledge and know-how can solve problems for our customers and create value for our shareholders.”