Welcome to our dedicated page for Montrose Environmental Group news (Ticker: MEG), a resource for investors and traders seeking the latest updates and insights on Montrose Environmental Group stock.
Onterris, formerly Montrose Environmental Group, reports developments as a global environmental solutions company serving commercial and government organizations. Company news covers environmental compliance, air measurement, laboratory services, emergency response, permitting, engineering and remediation, as well as demand trends tied to regulatory expectations and client project activity.
Recurring updates include quarterly and annual results, revenue guidance, Adjusted EBITDA commentary, cash flow, leverage and capital allocation. News also covers the company's completed rebrand from Montrose to Onterris, leadership appointments, environmental research publications, investor conference participation and plans for disciplined bolt-on acquisitions within its environmental services platform.
Montrose Environmental Group (MEG) reported third quarter 2022 revenue of $130.3 million, a slight decline from $132.6 million in Q3 2021, largely due to reduced COVID-19 services. However, excluding those revenues, total revenue increased by 30.9% year-over-year. The net loss for Q3 was $(5.7) million, or $(0.33) per share, with Adjusted Net Income of $7.8 million, translating to $0.12 per share. The company maintains a stable full-year revenue outlook of $535 million to $555 million. Cash flow from operations showed strength, and the balance sheet has limited exposure to rising interest rates.
Montrose Environmental Group, Inc. (NYSE: MEG) plans to release its third quarter 2022 earnings on November 8, 2022, post-market. A conference call will follow on November 9, 2022, at 8:30 AM EST, led by CEO Vijay Manthripragada and CFO Allan Dicks, discussing financial results and hosting a Q&A session. Interested parties can join the call via phone or through a live webcast. Montrose specializes in environmental solutions with over 2,500 employees globally, focusing on diverse services ranging from compliance to remediation.
Montrose Environmental Group, Inc. (NYSE: MEG) announced its participation at the Morgan Stanley 10th Annual Laguna Conference on September 15, 2022, at 2:40 p.m. ET in Dana Point, CA. A live audio webcast of the presentation will be available on the Company’s website, where a replay will also be accessible afterward. Montrose specializes in environmental solutions, employing over 2,500 staff across 80+ locations globally. The Company offers services including air measurement, regulatory compliance, and remediation, supporting clients with innovative solutions for today's challenges.
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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.