Montrose Environmental Group Inc Stock Price, News & Analysis

Montrose Environmental Group (MEG) reported a significant revenue increase for 2020, reaching $328.2 million, up 40.4% year-over-year, with fourth-quarter revenue at $108.7 million, a 60.2% rise. The company, however, faced a net loss of $57.9 million for the year, largely due to non-cash adjustments and IPO expenses. Adjusted EBITDA rose 74.4% to $54.5 million, with a margin improvement to 16.6%. Looking ahead, MEG projects 2021 Adjusted EBITDA between $61 million and $67 million, targeting 20% revenue growth.

Montrose Environmental Group (MEG) announced its fourth quarter and full year 2020 earnings release set for March 24, 2021, after market close. A conference call will be hosted at 5:00 PM EST on the same day, featuring senior management's discussion of financial results followed by a Q&A session. Interested participants can join via phone or a live webcast on Montrose's investor website. The company, with over 1,700 employees globally, specializes in environmental services, offering solutions in air measurement, regulatory compliance, and emergency response.

Montrose Environmental Group (MEG) will participate in the 23rd Annual Needham Growth Conference, scheduled virtually for January 11, 2021. Attendees can access the presentation materials on the Company's Investors section prior to the event.

Montrose is a recognized leader in environmental services, employing 1,700 staff across 70 locations globally. The Company offers a wide range of services, including air measurement, regulatory compliance, and remediation, aimed at helping clients address immediate needs and future challenges effectively.

Montrose Environmental Group (NYSE: MEG) has acquired MSE Group, an environmental services provider for the U.S. federal government. This acquisition will enhance Montrose's presence in the Southeast and allow for cross-selling opportunities. MSE, which has over 160 customers including multiple federal agencies, will integrate into Montrose's Remediation and Reuse Segment. Financial terms of the deal were not disclosed, but the acquisition is expected to provide access to greater capital and expand the service portfolio for both companies.

Montrose Environmental Group, Inc. (NYSE: MEG) announced the pricing of an underwritten secondary offering of 4,920,052 shares at $27.25 each by certain stockholders, including Oaktree Capital Management. An additional 738,012 shares may be purchased by underwriters within 30 days. Montrose will not receive proceeds from the offering, which is set to close on November 30, 2020, pending customary conditions. BofA Securities and William Blair are leading the offering, with others including J.P. Morgan and Morgan Stanley also involved.

Montrose Environmental Group, Inc. (NYSE: MEG) announced a secondary offering of 4,920,052 shares of its common stock, primarily by certain stockholders, including those managed by Oaktree Capital Management. The underwriters have an option to purchase an additional 738,012 shares. Importantly, Montrose will not receive any proceeds from this offering, as it involves existing stockholders only. BofA Securities and William Blair are the joint leading book-running managers for the offering. A registration statement for the offering has been filed but is not yet effective.

Montrose Environmental Group, Inc. (MEG) reported strong third-quarter results for 2020, with total revenue reaching $84.7 million, a 47.0% increase year-over-year. However, the company faced a net loss of $30.7 million, up from $6.7 million in the previous year, largely due to non-cash adjustments and IPO expenses. Adjusted EBITDA rose 107.3% to $16.7 million, improving the margin to 19.7%. For the first nine months, revenue was $219.5 million, marking a 32.2% increase, while the net loss was $58.8 million. The company anticipates over 20% annual revenue growth for 2020.

Montrose Environmental Group (MEG) has scheduled its third quarter 2020 earnings release for November 12, 2020, after market close. A conference call hosted by senior management will follow at 5:00 PM EST, providing insights into the Company’s financial results. Participants can join via phone or listen to a live webcast, with an audio replay available for 30 days post-event. Montrose specializes in environmental services, with 1,700 employees across 70 locations, offering innovative solutions to support clients in regulatory compliance and emergency response.

Montrose Environmental Group (MEG) has successfully repriced its $175 million term loan facility, reducing the interest rate spread by 50 basis points to LIBOR plus 4.50%, down from 5.00%. The revolving credit facility remains unchanged at LIBOR plus 3.5%. This change underscores Montrose's improved operational performance and strengthens its financial flexibility for future strategic initiatives. Both loan facilities maintain their maturity date in 2025. CEO Allan Dicks emphasized that this success highlights Montrose's strong relationships with financial partners.