Mistras (MG) 8-K MISTRAS Announces Second Quarter and First Half 2021 Results

Exhibit 99.2

Mistras Group, Inc. and Subsidiaries

Unaudited Reconciliation of

Net Income (Loss) (GAAP) and Diluted EPS (GAAP) to Net Income (Loss) Excluding Special Items (non-GAAP)

and Diluted EPS Excluding Special Items (non-GAAP)

(tabular dollars in thousands, except per share data)

	Three Months Ended June 30,					Six Months Ended June 30,
	2021		2020			2021		2020
Net income (loss) attributable to Mistras Group, Inc. (GAAP)	$	5,937	$	(2,656)		$	575	$	(101,165)
Special items	878		1,161			2,379		106,666
Tax impact on special items	(189)		(191)			(557)		(14,041)
Special items, net of tax	$	689	$		970	$	1,822	$		92,625
Net income (loss) attributable to Mistras Group, Inc. Excluding Special Items (non-GAAP)	$	6,626	$	(1,686)		$	2,397	$	(8,540)
Diluted EPS (GAAP)(1)	$	0.20	$	(0.09)		$	0.02	$	(3.49)
Special items, net of tax	0.02		0.03			0.06		3.19
Diluted EPS Excluding Special Items (non-GAAP)	$	0.22	$	(0.06)		$	0.08	$	(0.30)

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(1) For the three and six months ended June 30, 2020, 118,000 and 223,000 shares, respectively, related to restricted stock were excluded from the calculation of diluted EPS due to the net loss for the period.