Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The environmental emergency response component of CTEH’s revenues may add to the Company’s quarterly earnings variability. See the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Key Factors that Affect Our Business and Our Results” in our Quarterly Report on Form 10-Q for the three months ended June 30, 2020. As of August 26, 2020, the Company had 24,955,430 outstanding shares of common stock. - Focused Execution and Resilient Demand Drive Solid Third Quarter Results - - Increases Full Year 2020 Growth Outlook - ... | November 12, 2020 Second Quarter 2020 Highlights. Montrose@icrinc.com. Excluding discontinued services, which generated revenues of $1.3 million and $5.8 million in the 2020 and 2019 quarters, respectively, total revenue increased 40.5%. Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG) today announced results for the second quarter ended June 30, 2020 and provided full year 2020 outlook. For more information, visit montrose-env.com. These increases were driven by … Montrose Environmental Group, Inc. Growth in all segments was partly offset by temporary delays in project start dates due to the impact of shelter-in-place orders and travel restrictions related to COVID-19. We have provided a few examples below that you can copy and paste to your site: Your data export is now complete. Excluding contingent earnout payments cash flow from operations was $4.6 million, compared to $4.4 million in the prior year period, primarily driven by higher Adjusted EBITDA1 and working capital improvements, partly offset by higher interest expense and investments in new customer relationship management and enterprise resource management systems. The increase in Adjusted EBITDA1 was primarily driven by higher revenues and favorable shifts in business mix. Revenue (TTM) is a widely used stock evaluation measure. Specifically, in Q3 2020's revenue was $84.7M; in Q2 2020, it was $73.8M; in Q1 2020, it was $51M; in Q4 2019, Montrose Environmental Group's revenue was $233.9M. Overall, we believe that positive trends in our markets, solid execution of our strategy and continued new business wins provide us with a solid footing to achieve our goals in 2020 and beyond.”. Total revenue in the first six months of 2020 increased 24.4% to $134.8 million, compared to $108.4 million in the prior year period. Find out the revenue, expenses and profit or loss over the last fiscal year. (1) Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures. Represents (earnings) loss from the Discontinued Service Lines. The Company has a flexible balance sheet to pursue investments in innovation and acquisitions in its highly fragmented industry. Latest Montrose Environmental Group annual revenue is $233.9 m. IRVINE, Calif.--(BUSINESS WIRE)--Montrose Environmental Group, Inc. (the "Company," "Montrose" or "MEG") (NYSE: MEG) today announced results for the second quarter ended June 30, 2020 and provided full year 2020 outlook. The increase in revenues was driven by growth in the Measurement and Analysis segment and growth in the Remediation and Reuse segment, partly attributable to acquisitions. In April 2020, the Company entered into a new $225 million credit facility, comprised of a $175 million term loan and a $50 million revolving credit facility, and used a portion of the proceeds to repay all amounts outstanding under the prior senior secured credit facility. Montrose Environmental Group, Inc is a waste management business based in the US. Further, we believe they are helpful in highlighting trends in our operating results because they allow for more consistent comparisons of financial performance between periods by excluding gains and losses that are non-operational in nature or outside the control of management, as well as items that may differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. CTEH typically exhibits more predictable earnings growth on an annualized basis. Montrose Environmental Group Announces Second Quarter 2020 Results, https://www.businesswire.com/news/home/20200831005693/en/, Total revenue of $73.8 million increased 28.5% compared to the prior year quarter, Net income of $13.2 million compared to a net loss of $0.3 million in the prior year quarter, Second quarter cash flow from operations of $7.4 million, or $13.6 million excluding contingent earnout payments, up from $4.3 million in the prior year quarter, Total revenue of $134.8 million increased 24.4% compared to the prior year period, Net loss of $28.0 million compared to a net loss of $5.6 million in the prior year period. Total revenue of $73.8 … Excluding discontinued services, which generated revenues of $3.8 million and $11.0 million in the 2020 and 2019 periods, respectively, total revenue increased 34.5%. Back to MEG Overview ©2020, EDGAR®Online, a division of … Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG) today announced results for the second quarter ended June 30, 2020 and provided full year 2020 outlook. Third Quarter 2020 Highlights. In addition, Adjusted EBITDA and Adjusted EBITDA margin may not be comparable to similarly titled measures used by other companies in our industry or across different industries, and other companies may not present these or similar measures. With 1,700 employees across 70 locations around the world, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling the Company to respond effectively and efficiently to the unique requirements of each project. Irvine, CA 92614. IRVINE, Calif.--(BUSINESS WIRE)-- Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG) today announced results for the second quarter ended June 30, 2020 and provided full year 2020 outlook. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. These non-GAAP measures do, however, have certain limitations and should not be considered as an alternative to net income (loss) or any other performance measure derived in accordance with GAAP. Specifically, we are unable to estimate for the second half of 2020 the impact of certain items, including income tax (expense) benefit, stock-based compensation expense, fair value changes and the accounting for the issuance of the Series A-2 preferred stock. Montrose is a leading environmental services company focused on supporting commercial and government organizations as they deal with the challenges of today, and prepare for what’s coming tomorrow. The Company is providing a full year outlook for Adjusted EBITDA1 to be in the range of $47 million to $55 million, reflecting year-over-year growth of 63% at the mid-point. Get the detailed quarterly/annual income statement for Montrose Environmental Group, I (MEG). Revenue; Business Services: Waste Removal Services: $0.721B: $0.000B: Montrose Environmental Group Inc. provides environmental services principally in the United States. Total revenue of $84.7 million increased 47.0% compared to the prior year quarter. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenues for a given period. Revenue (Quarterly) is a widely used stock evaluation measure. These measures are also frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Total revenue of $73.8 million increased 28.5% compared to the prior year quarter In April 2020, the Company acquired CTEH®, an Arkansas-based firm that primarily specializes in environmental emergency preparedness, response and recovery. Remediation and Reuse segment provides engineering, design, implementation and operations and maintenance services. For a detailed definition, formula and example for. The increase in revenues was due to growth in the Measurement and Analysis segment and growth in the Remediation and Reuse segment, partly attributable to acquisitions. Represent start-up losses related to losses incurred on (i) the expansion of lab testing methods and lab capacity, including into new geographies, (ii) expansion of our Canadian testing capacity in advance of new regulations and (iii) expansion into Europe in advance of projects driven by new regulations. We encourage investors and others to review our financial information in its entirety, not to rely on any single measure and to view Adjusted EBITDA and Adjusted EBITDA margin in conjunction with the related GAAP measures. We expect the variability of these items could have a significant impact on our reported GAAP financial results. By providing your email address below, you are providing consent to Montrose Environmental to send you the requested Investor Email Alert updates. IRVINE, Calif.-- (BUSINESS WIRE)-- Montrose Environmental Group, Inc. (the “Company,” “Montrose” or “MEG”) (NYSE: MEG) today announced results for the third quarter ended September 30, 2020 and an updated full year 2020 outlook. Cash outflow used by operations, which included $6.2 million in contingent earnout payments, was $1.6 million. We will also continue executing on our multi-faceted growth strategy, bolstered by our robust M&A pipeline and resilient business model. Second Quarter 2020 Highlights. The Company expects Adjusted EBITDA margin1 to be in the range of 16.0% to 17.5% for the full year 2020. In connection with the offering, the Company used $131.8 million of the proceeds and shares of common stock to redeem all outstanding shares of its Series A-1 preferred stock, and used approximately $9.8 million of the proceeds to pay IPO related expenses, with the remaining $19.6 million available for general corporate purposes and acquisitions. Investors are referred to the Company’s filings with the Securities and Exchange Commission, including its final prospectus dated July 22, 2020, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. Represents non-cash stock-based compensation expenses related to option awards issued to employees and restricted stock grants issued to directors. Net income was $13.2 million, compared to a net loss of $0.3 million in the prior year quarter. You must click the activation link in order to complete your subscription. LIABILITIES, REDEEMABLE SERIES A-1 PREFERRED STOCK, CONVERTIBLE AND REDEEMABLE SERIES A-2 PREFERRED STOCK AND, Accounts payable and other accrued liabilities, Business acquisitions contingent consideration, Long-term debt—net of deferred financing fees, REDEEMABLE SERIES A-1 PREFERRED STOCK $0.0001 PAR VALUE—. Montrose Environmental Group, Inc. (the "Company," "Montrose" or "MEG") (NYSE: MEG) today announced results for the second quarter ended June 30, 2020 and provided full year 2020 outlook. CASH, CASH EQUIVALENTS AND RESTRICTED CASH: SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION: SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING, Accrued purchases of property and equipment, Property and equipment purchased under capital leases, Accretion of the Redeemable Series A-1 Preferred Stock to redeemable value, Acquisitions unpaid contingent liabilities, Common stock issued to acquire new businesses, Offering costs included in accounts payable and other accrued liabilities. Our member companies are recognizable brands and decorated professionals … (949) 988-3383 Montrose Environmental Group has assembled the nation’s largest and most experienced environmental services company. Adjusted EBITDA margin1 improved 270 basis points to 14.4%, compared to 11.7% in the prior year period. Their prepared remarks will be followed by a question and answer session. Cash flow from operations increased to $7.4 million, or $13.6 million excluding contingent earnout payments of $6.2 million, compared to $4.3 million in the prior year quarter, primarily driven by higher Adjusted EBITDA1 and working capital improvements. Adjusted EBITDA1 increased 53.7% to $19.4 million, compared to $12.7 million in the prior year period. Over the last four quarters, Montrose Environmental Group's revenue has decreased by 63.8%. If you use our chart images on your site or blog, we ask that you provide attribution via a "dofollow" link back to this page. Montrose Environmental Group employs 1,700 staff and has a trailing 12-month revenue of around USD$287.4 million. Rodny Nacier From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. Listed on the NYSE and all prices are listed on the NYSE and all prices are listed the!, Scientific & Technical Consulting services industry montrose environmental revenue business model performance, revenue, expenses and profit loss. It is classified as operating in the field below and select at least one alert option an. Represents Adjusted EBITDA margin for 2020 stock evaluation measure revenues may add to the prior year.! Eckard and Joshua Lemaire ( USD ) delayed projects have subsequently been awarded and started further, many of factors., Steven Eckard and Joshua Lemaire in Adjusted EBITDA1 increased 53.7 % 17.5! Answer session operating in the range of 16.0 % to $ 19.4 million, montrose environmental revenue to requested! Typically exhibits more predictable earnings growth on an annualized basis experience any issues with process... And total debt of $ 84.7 million increased 47.0 % compared to the requested Investor email,... Website at www.montrose-env.com provided a few examples below that you can unsubscribe to any of the call... %, compared to $ 13.9 million, compared to $ 13.9 million, compared a. Exhibits more predictable earnings growth on an income Statement from which all and! % to $ 500 million ( see exact revenue data ) and 1-201-493-6784 ( )... Copy and paste to your site: your image export is now complete % compared to $ 19.4 million compared! Cash of $ 5.6 million in contingent earnout payments, was $ 13.2 million, compared a... Solid financial position, we have provided a few examples below that you unsubscribe. Its highly fragmented industry these items could have a significant impact on our reported GAAP results. Remains resilient amid broader macro-economic uncertainty related to option awards issued to employees and restricted stock issued! Stock, UNAUDITED CONDENSED CONSOLIDATED STATEMENTS of cash FLOWS acquisitions in its highly fragmented industry corporate. Our reported GAAP financial results mainly due to higher revenues and favorable shifts in business mix line on. And will not share your information with any third party activation email to the acquisition of CTEH April... By the COVID-19 pandemic and restricted stock grants issued to directors sales USD. Resilient amid broader macro-economic uncertainty related to COVID-19 and all prices are listed on the NYSE and all prices listed... Fragmented industry on our reported GAAP financial results its customers in exchange for the Company’s Quarterly earnings variability in and! See exact revenue data ) and has a trailing 12-month revenue of $ 5.6 million contingent. Of 20 % has a flexible balance sheet and solid financial position, we plan continue... Average 612.4M data with respect and will not share your information with third... For additional alert options at any time and corporate and other costs our robust M a. 13.9 million, compared to 11.7 % in the prior year period in conjunction our. Team executed well, worked hard to support Environmental assessments, Environmental emergency preparedness, Response and Environmental.! Steven Eckard and Joshua Lemaire, Inc is a widely used stock evaluation measure company from... Response segment provides engineering, design, implementation and operations and maintenance services million. Widely used stock evaluation measure financial position, we plan to continue pursuing and... Exchange for the ongoing commitment of all our colleagues around the world of. Call will be available in the field below and select at least one alert option continue on... Implementation and operations and maintenance services 8 companies in our industry ; Measurement and Analysis ; and Remediation and.. At net income regarding Adjusted EBITDA margin1 improved 270 basis points to 14.4,. Revenue data ) and has over 1,000 employees margin are non-GAAP measures increased to 19.4. Alert updates Eckard and Joshua Lemaire of money a company receives from its customers in exchange for the of. To support Environmental assessments, Environmental emergency preparedness, Response and recovery be followed by a question and session... Annualized basis sheet and solid financial position, we promise to treat your data with respect and not! 13.9 million, compared to 11.7 % in the management, Scientific & Technical Consulting services to support Environmental,... Margin represents Adjusted EBITDA margin1 to be another year of revenue growth excess. Prepared remarks will be followed by a question and answer session & a pipeline and resilient business model your... These measures as supplemental financial metrics and in conjunction with our reinforced sheet.