Why did MG's Q3 2024 EPS fall short of forecasts?

Mistras Group's (MG) Q3 2024 EPS fell short of forecasts due to a combination of factors:

1. **Revenue Decline**: The company's total revenue for Q3 2024 was $182.69 million. Although this is a slight increase from the previous quarter, it is still below the expectations, indicating a decline in sales or operational efficiency.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|MG|MG.N|Mistras Group|2023 Q4|8.23693064951432|1.82074E8|169|
|MG|MG.N|Mistras Group|2024 Q1|9.776449861917913|1.84442E8|169|
|MG|MG.N|Mistras Group|2024 Q2|7.807191955916605|1.89773E8|169|
|MG|MG.N|Mistras Group|2024 Q3|1.8622389241388537|1.82694E8|169|

2. **Cost Management**: Mistras Group has been actively managing costs, as evidenced by the reduction in SG&A expenses and the improvement in operating income. However, these cost-saving measures may not have been sufficient to offset the revenue shortfall.
3. **Market Conditions**: The broader market conditions and industry trends may have also contributed to the EPS shortfall. For instance, if the Aerospace and Defense segment, which saw double-digit growth in the previous quarter, experienced a decline in demand or profitability, it could have impacted the overall EPS.

In conclusion, Mistras Group's Q3 2024 EPS fell short of forecasts due to a combination of revenue decline and cost management efforts.