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Mar 31, 2024
Montrose Q1 2024 Earnings Report
Montrose reported record first quarter revenue and solid growth across business lines, driven by secular and regulatory tailwinds.
Key Takeaways
Montrose Environmental Group announced record first quarter revenue of $155.3 million, an 18% increase year-over-year. The company reported a net loss of $13.4 million, or $0.53 per share. They reiterated their full year 2024 revenue and Consolidated Adjusted EBITDA guidance.
Record first quarter revenue of $155.3 million, up 18% year-over-year.
Net loss of $13.4 million, or a loss of $0.53 per share basic and diluted.
Record first quarter Consolidated Adjusted EBITDA of $16.9 million.
Executed three acquisitions and expanded patent portfolio.
Revenue by Segment
Forward Guidance
The Company reiterates its full year 2024 Revenue and Consolidated Adjusted EBITDA outlook provided on April 2, 2024. The company expects Revenue to be in the range of $690 million to $740 million. Consolidated Adjusted EBITDA is expected to be in the range of $95 million to $100 million for the full year 2024.
Positive Outlook
- Expects Revenue to be in the range of $690 million to $740 million.
- Consolidated Adjusted EBITDA is expected to be in the range of $95 million to $100 million for the full year 2024.
- The midpoints of the ranges incorporate an expectation of low double digit organic revenue growth
- Continued year-on-year Consolidated Adjusted EBITDA margin expansion.
- Our Revenue and Consolidated Adjusted EBITDA outlook does not include any benefit from future acquisitions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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