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Jun 30, 2021
Montrose Q2 2021 Earnings Report
Montrose Environmental Group's second quarter results for 2021 were announced, showing strong performance across all segments and increased guidance for the full year.
Key Takeaways
Montrose Environmental Group reported an 84.7% increase in total revenue to $136.2 million compared to the prior year quarter. However, the company experienced a net loss of $14.5 million, contrasting with a net income of $13.2 million in the prior year quarter, attributed to non-cash fair value adjustments and debt refinancing expenses. Adjusted EBITDA increased by 50.9% to $21.0 million.
Total revenue increased by 84.7% to $136.2 million compared to the prior year quarter.
Net loss was $14.5 million, compared to a net income of $13.2 million in the prior year quarter.
Adjusted EBITDA increased by 50.9% to $21.0 million compared to the prior year quarter.
The company increased its Adjusted EBITDA outlook for 2021, expecting it to be in the range of $70.0 million to $75.0 million.
Forward Guidance
Montrose Environmental Group has increased its Adjusted EBITDA outlook for the full year 2021, now expecting it to be in the range of $70.0 million to $75.0 million. This outlook is supported by heightened demand, continued organic growth, and contributions from recent acquisitions.
Positive Outlook
- Heightened demand for Montrose's service offerings in the first half of 2021.
- Continued organic growth across its segments.
- Contribution of acquisitions.
- Expects to exceed 20% revenue growth threshold in 2021.
- Continue adding strategically and financially accretive acquisitions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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