Montrose Environmental Group Inc ( (MEG) ) has released its Q3 earnings. Here is a breakdown of the information Montrose Environmental Group Inc presented to its investors.
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Montrose Environmental Group Inc. is a leading environmental solutions company providing integrated services such as air measurement, laboratory services, regulatory compliance, and environmental emergency response across North America, Australia, and Europe. In its recent earnings report, Montrose Environmental Group Inc. announced record revenues for the third quarter and the first nine months of 2024, with a notable increase in Consolidated Adjusted EBITDA. The company reported third-quarter revenue of $178.7 million, a 6.4% increase from the previous year, and Adjusted Net Income of $19.1 million. Despite a net loss of $10.6 million, Montrose achieved a record Consolidated Adjusted EBITDA of $28.3 million, indicating strong organic growth and successful integration of recent acquisitions. For the first nine months of 2024, Montrose posted total revenue of $507.4 million, a 10.7% increase, and Adjusted Net Income of $38.6 million. The company reaffirmed its full-year guidance, expecting revenue between $690 million and $740 million, and Consolidated Adjusted EBITDA between $95 million and $100 million. Looking ahead, Montrose remains optimistic about its growth prospects, driven by favorable regulatory environments and robust client demand, with a strategic focus on organic growth and cash flow generation.
