Montrose Environmental Group Inc Stock Price, News & Analysis

Montrose Environmental Group (NYSE: MEG) has acquired AirKinetics, a prominent provider of emissions testing services in the Western United States. This strategic acquisition aims to enhance Montrose's capabilities in stack testing and emissions compliance, particularly in regions with stringent regulations. AirKinetics' experienced leadership, under founder Tony Wong, will integrate into Montrose's Measurement and Analysis segment. The deal's financial terms were not disclosed, but it positions Montrose to leverage combined expertise for improved service offerings across the West Coast.

Montrose Environmental Group (MEG) reported a revenue increase to $139.9 million for Q2 2022, marking a 2.7% growth year-over-year. This rise was driven by organic growth in its Measurement and Analysis and Remediation segments, despite a dip in COVID-19-related services. Operating cash flow improved by $18.1 million over the prior year, and adjusted net income reached $5.4 million, or $0.04 per share. The company maintains its 2022 guidance of $520 million to $570 million in revenue and adjusted EBITDA between $68 million to $73 million, reflecting ongoing strong demand for its services.

Montrose Environmental Group (NYSE: MEG) announced the acquisition of TriAD Environmental Consultants, an established environmental consulting firm based in Nashville, Tennessee. This acquisition is aimed at strengthening Montrose's Assessment, Permitting & Response segment. The transaction will integrate TriAD's expertise in environmental regulatory compliance, solid waste permitting, and engineering services, which is expected to enhance Montrose's service offerings across the Southeast. Terms of the deal were not disclosed.

Montrose Environmental Group (NYSE: MEG) will release its second quarter 2022 earnings on August 8, 2022, after market close. A conference call hosted by CEO Vijay Manthripragada and CFO Allan Dicks will follow on August 9, 2022, at 8:30 AM EDT to discuss the results. Interested participants can join by calling 1-877-407-9208 in the U.S. or 1-201-493-6784 internationally. A live webcast will also be available on their website. Montrose specializes in environmental solutions for both commercial and government sectors.

Montrose Environmental Group, Inc. (NYSE: MEG) reported a ransomware attack affecting its Enthalpy Analytical laboratory network. This sophisticated cyber incident prompted immediate suspension of affected systems, notification of law enforcement, and engagement of cybersecurity experts. Restoration efforts are underway, with no significant disruption expected to other services. Although some laboratory results may be delayed, the company's backup data remains intact. Montrose is committed to monitoring its networks closely and apologizes to clients potentially impacted by the attack.

Montrose Environmental Group, Inc. (NYSE: MEG) will present at the William Blair 42nd Annual Growth Stock Conference in Chicago, IL, on June 9, 2022, at 3:40 p.m. ET. An audio webcast of the presentation will be available on their Investors section of the website, with a replay accessible afterward. Montrose provides comprehensive environmental solutions with over 2,700 employees across 80+ global locations, specializing in air measurement, regulatory compliance, and remediation services. For more details, visit www.montrose-env.com.

Montrose Environmental Group, Inc. (NYSE: MEG) will present at the Stifel 2022 Cross Sector Insight Conference in Boston, MA, on June 8, 2022, at 4:10 p.m. Eastern Time. The presentation will be available on the company’s website prior to the event. Live audio webcasting will occur during the presentation, with a replay accessible afterward. Montrose specializes in environmental solutions for commercial and government sectors, employing over 2,700 individuals across more than 80 locations globally. For more details, visit www.montrose-env.com.

Montrose Environmental Group, Inc. (MEG) reported a small revenue increase of 0.6% to $134.7 million for Q1 2022, despite a decline in COVID-19-related revenue. The company achieved a lower net loss of $7.5 million, improving its net loss margin to (5.6)%. Adjusted EBITDA was $16.5 million, with a slight decline in adjusted EBITDA margin to 12.2%. Montrose confirmed its 2022 revenue guidance of $520-$570 million and EBITDA guidance of $73-$78 million, highlighting strong growth in water and renewable energy services.