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.
Montrose Environmental Group, Inc. (symbol: MEG) is a leading, high-growth environmental company headquartered in Orange County, California. With over 42 offices and more than 750 employees nationwide, Montrose provides a broad spectrum of environmental services tailored to both industry and government clients.
Montrose operates through various well-established brands across the country, each with a rich history of delivering top-quality services. The company's diverse range of operations includes air quality assessments, environmental laboratory analysis, and regulatory compliance services.
- Assessment, Permitting, and Response: This segment offers scientific advisory and consulting services, including environmental assessments, emergency response, and audits.
- Measurement and Analysis: This arm specializes in testing and analyzing air, water, and soil to identify contaminant concentrations.
- Remediation and Reuse: This segment provides engineering, design, and operational services to treat contaminated water, remove pollutants, and generate biogas.
Montrose’s commitment to environmental sustainability is evident through their innovative solutions and partnerships. Some recent achievements include advancements in biogas generation and significant projects in environmental remediation. Their financial health and operational efficiency continue to attract client trust and industry recognition.
By leveraging a vast network of experts and cutting-edge technology, Montrose ensures comprehensive environmental solutions that meet the exacting standards of its clients and regulatory bodies.
Montrose Environmental Group (NYSE: MEG) has announced its participation in the Baird 2024 Global Industrial Conference scheduled for Tuesday, November 12, 2024, in Chicago, IL. The company will make its conference presentation materials available to the public by posting them in the Investors section of its website.
Montrose Environmental Group (MEG) reported record Q3 2024 results with total revenue of $178.7 million, up 6.4% year-over-year. The company posted a net loss of $10.6 million ($0.39 per share) but achieved record Consolidated Adjusted EBITDA of $28.3 million, increasing 21.5%. For the first nine months of 2024, revenue grew 10.7% to $507.4 million with a net loss of $34.1 million. The company reaffirmed its full-year 2024 guidance of $690-740 million in revenue and $95-100 million in Adjusted EBITDA. MEG announced a shift in capital allocation priorities, focusing on preferred equity redemption and deleveraging while de-emphasizing acquisitions.
Montrose Environmental Group (NYSE: MEG) has announced its schedule for third quarter 2024 financial results release and conference call. The company will release its Q3 2024 results on Wednesday, November 6, 2024, after NYSE trading hours. A conference call to discuss the results and future outlook is scheduled for Thursday, November 7, 2024, at 8:30 a.m. Eastern Time. Investors can access the live webcast through the company's website or join via phone using specified dial-in numbers. A replay will be available on the website for 30 days after the call.
Montrose Environmental Group (NYSE: MEG) has been selected for a $249 million, five-year, multiple-award contract by the U.S. Army Corps of Engineers (USACE) Mobile District. The contract focuses on providing environmental quality support to various military, civil, and federal agencies, including the U.S. Army, Air Force, Marine Corps, Navy, and Defense Logistics Agency.
The scope of work includes solutions and remedial plans for air and water quality compliance, PFAS, pollution prevention, hazardous waste, sustainability, and other environmental compliance support. Montrose's CEO, Vijay Manthripragada, highlighted the company's valued partnership with USACE and their unique integration of environmental consulting, analytical services, engineering, and next-generation technology.
The announcement aligns with market growth opportunities in the $15.5B annual U.S. remediation services market, particularly within the Department of Defense sector, as reported by Environmental Business Journal's 2024 EBJ Remediation Markets Survey.
Montrose Environmental Group (NYSE: MEG) has been supporting Alaska Native Corporations (ANCs) in their efforts to revitalize contaminated lands. The company has assisted ANCs in securing and implementing $8 million of EPA Brownfield and Contaminated ANCSA Land Grants throughout 2023 and 2024. These grants aim to address legacy contamination issues on lands transferred to ANCs under the Alaska Native Claims Settlement Act of 1971.
Montrose's work involves leveraging its suite of services, including consulting, engineering, lab testing, and innovative technologies. A key project included helping Cook Inlet Region, Inc. and Tyonek Native secure a $3 million EPA grant for the restoration of the Iniskin Peninsula. The project aims to restore impacted areas for cultural, subsistence, and recreational use, while also developing reuse plans for renewable energy, resource extraction, and tourism.
Montrose Environmental Group (NYSE: MEG) has acquired Origins Laboratory, a leading environmental testing lab in Denver, Colorado. This strategic move expands Montrose's presence in the Rocky Mountain region and enhances its Measurement and Analysis Segment. Origins, founded in 2006, specializes in water, soil, and air contamination testing for oil and gas clients, offering advanced services like VOC air analysis and PFAS measurement.
The acquisition allows Montrose to provide integrated environmental solutions in the region, combining laboratory services with existing offerings. Origins' rapid turnaround capabilities, including same-day results, enable significant cost savings for clients through faster remediation and improved project efficiency. This move aligns with Montrose's commitment to responsive, client-focused service and positions the company to address evolving regulatory needs in the environmental sector.
Montrose Environmental Group (NYSE: MEG) has announced its plans to attend the Jefferies Industrials Conference in New York on September 4, 2024. This event provides an opportunity for MEG to showcase its business and connect with industry professionals and investors. Prior to the conference, Montrose will make its presentation materials available to the public by posting them in the Investors section of its website. This move demonstrates the company's commitment to transparency and keeping shareholders informed.
The Jefferies Industrials Conference is a significant platform for companies in the industrial sector to present their strategies, financial performance, and future outlooks. Montrose's participation suggests its aim to increase visibility among investors and analysts specializing in environmental services and related industries.
Montrose Environmental Group (NYSE: MEG) announced that TreaTech, a Montrose-backed waste treatment technology company, has installed its first circular waste treatment unit, VISTA, at Ecorecyclage's site in Switzerland. VISTA uses catalytic hydrothermal gasification to convert various waste streams into renewable gas, which can be directly injected into the natural gas network. The unit is expected to process up to 200kg of waste per hour, operating 24/7.
This installation marks a significant step in sustainable waste management and renewable energy production. Montrose aims to bring TreaTech's technology to the U.S. in 2025, targeting various sectors including food and beverage, agriculture, municipal waste, and chemicals. The technology offers an alternative to traditional incineration, reducing CO2 emissions and recovering valuable resources from waste.
Montrose Environmental Group (NYSE: MEG) reported record Q2 2024 results, with total revenue of $173.3 million, up 8.9% year-over-year. The company achieved margin expansion in all three segments and record Consolidated Adjusted EBITDA of $23.3 million, a 10% increase. Despite these gains, MEG reported a net loss of $10.2 million.
For the first half of 2024, MEG saw record total revenue of $328.7 million, a 13.1% increase, and record Consolidated Adjusted EBITDA of $40.2 million, up 6.5%. The company reaffirmed its full-year 2024 guidance for total revenue of $690-$740 million and Consolidated Adjusted EBITDA of $95-$100 million.
MEG also highlighted strategic capital allocation, including raising $121.8 million in a common stock offering and investing $27 million in two acquisitions. The company maintains a strong liquidity position of $188.3 million with a 2.4x leverage ratio.
Montrose Environmental Group (NYSE: MEG) has deployed its Leak Detection Sensor Network (LDSN) solution at a U.S. Gulf Coast refinery to enhance real-time emissions monitoring. This innovative approach, authorized by the EPA as an alternative means of emission limitation (AMEL), allows for a more dynamic leak detection and repair (LDAR) program compliance. The LDSN includes:
- Real-time sensors for continuous 24/7 leak monitoring
- Proprietary Sensible EDP™ software for data aggregation and alerts
Key outcomes of the LDSN implementation include early detection of elevated emissions, improved safety conditions, and enhanced air quality for surrounding communities. This solution demonstrates Montrose's commitment to leveraging innovative technology for reducing emissions and improving process safety in industrial facilities.
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