Montrose Environmental Group Inc Stock Price, News & Analysis

Montrose Environmental Group, Inc. (NYSE: MEG) will present at the J.P. Morgan 2022 Ultimate Services Investor Conference in New York, NY on November 17, 2022, at 4:15 p.m. Eastern Time. The presentation will be available on the Company’s website prior to the event. A live audio webcast can also be accessed during the presentation, with a replay available afterward. Montrose is a leading environmental solutions company with over 2,500 employees across more than 80 locations, offering services in air measurement, regulatory compliance, and remediation.

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.

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.