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, Inc. (MEG) reported strong third quarter results for 2021, with total revenue of $132.6 million, a 56.5% increase year-over-year. Net income reached $2.2 million, compared to a net loss of $30.7 million in the prior year. Adjusted EBITDA rose 28.6% to $21.5 million with a margin of 16.2%. The company completed two strategic acquisitions and successfully reduced its leverage to 0.8x after a public offering that raised approximately $169.8 million. Montrose has raised its full-year Adjusted EBITDA guidance to $75-$80 million.
Montrose Environmental Group, Inc. (NYSE: MEG) has acquired Horizon Water and Environment, LLC, enhancing its environmental consulting capabilities in California. This acquisition, Montrose's fourth in the state this year, positions the company to deepen its expertise in water resource management and ecosystem services. Horizon specializes in regulatory compliance and watershed science, making it a strategic addition to Montrose's workforce. Key leaders from Horizon, including founder Kenneth Schwarz, will join Montrose to support its mission on the West Coast.
Montrose Environmental Group, Inc. (NYSE: MEG) will release its third quarter 2021 earnings on November 9, 2021, after market close. A conference call will be held on November 10 at 8:30 AM EST to discuss these results, followed by a Q&A session. Investors can participate by dialing in or via a live webcast available on Montrose's website. The company focuses on environmental services for commercial and government sectors, employing over 2000 staff globally.
Montrose Environmental Group (NYSE: MEG) has acquired Environmental Chemistry, Inc. (ECI), a full-service environmental laboratory in the Texas and Louisiana gulf coast region. The deal enhances Montrose’s analytical capabilities, integrating ECI into its Measurement and Analysis Segment under Enthalpy Analytical, LLC. ECI, founded in 1990, is known for its comprehensive environmental laboratory services. This acquisition aims to bolster Montrose's service offerings in water and soil testing, complementing its air capabilities and expanding its regional responsiveness.
Montrose Environmental Group (NYSE: MEG) has priced its underwritten public offering of 2,500,000 shares of common stock at $62.00 per share, upsized from the initial 1,750,000 shares. The underwriters are granted a 30-day option to purchase an additional 375,000 shares. The offering is set to close on October 1, 2021, pending customary closing conditions. Proceeds will be used for general corporate purposes, including funding acquisitions, business expansion, and debt repayment.
Montrose Environmental Group (NYSE: MEG) announced plans to offer 1,750,000 shares of common stock in an underwritten public offering, with a 30-day option for underwriters to purchase an additional 262,500 shares. The net proceeds will be used for general corporate purposes, including business expansion, working capital, capital expenditures, and debt repayment. The offering will be managed by J.P. Morgan, BofA Securities, and William Blair. A registration statement on Form S-3 was filed with the SEC on August 11, 2021.
Montrose Environmental Group (MEG) reported Q2 2021 revenue of $136.2 million, up 84.7%, but posted a net loss of $14.5 million due to non-cash adjustments related to debt refinancing. Adjusted EBITDA was $21.0 million, a 50.9% year-over-year increase with a margin of 15.4%. For the first half of 2021, revenue soared 100.3% to $270.0 million, while net loss narrowed to $26.1 million. The company acquired MSE and Vista Analytical to enhance its services. MEG anticipates full-year Adjusted EBITDA of $70-$75 million, reflecting strong organic growth and successful acquisitions.
Montrose Environmental Group (NYSE: MEG) has acquired SensibleIoT, enhancing its capabilities in environmental solutions through advanced data analytics. Founded in 2018, Sensible provides an IoT platform that integrates various air, water, and soil data sources. The acquisition aims to create synergies between Montrose's services and Sensible's technology, aiding clients in achieving their environmental goals. The transaction's financial specifics were not disclosed, but it highlights Montrose's commitment to leveraging technology in environmental management.
Montrose Environmental Group (NYSE: MEG) has relocated its principal executive office from Irvine, California, to North Little Rock, Arkansas, effective immediately. CEO Vijay Manthripragada emphasized the company's commitment to growth in both states, thanking Governor Hutchinson and Arkansas for their support. Montrose is a leading environmental solutions provider, employing over 2,000 staff across 70 locations globally, offering services such as air measurement, regulatory compliance, and engineering.
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