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 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.
Montrose Environmental Group (NYSE: MEG) will release its second quarter 2021 earnings on August 10, 2021, after NYSE trading ends. A conference call will follow on August 11, 2021, at 8:30 AM EDT, where senior management will discuss the financial results and engage in a Q&A session. Participants can join the call by dialing 1-877-407-9208 or through an international line at 1-201-493-6784. A live webcast will be available on the Montrose website, along with a subsequent audio replay for 30 days.
Montrose Environmental Group, Inc. (NYSE: MEG) has renewed a five-year contract with the Australian Department of Defence for water treatment services valued at $43 million (AU$59 million). The contract focuses on PFAS removal at three military bases, including RAAF Base Williamtown, and encompasses potential annual extensions up to five years based on Defence's needs. ECT2, a subsidiary, has treated over 5 billion liters of water, maintaining PFAS levels below health standards while employing 19 local workers. The contract started on July 13, 2021.
Montrose Environmental Group, Inc. (NYSE: MEG) announced its acquisition of Environmental Intelligence, LLC (EI), an environmental consulting firm specializing in wildfire mitigation and regulatory compliance. EI, founded in 1994, offers comprehensive services across various sectors in California. The acquisition aims to enhance Montrose’s EcoServices and renewable energy capabilities in the southwestern U.S., with EI’s team, including founder David Levine, integrating into Montrose's Assessment, Permitting and Response segment. Terms of the deal were not disclosed.
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