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 (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.