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Jun 30, 2023
Montrose Q2 2023 Earnings Report
Montrose reported strong revenue growth and margin expansion, increased year-to-date operating cash flow, and raised revenue and consolidated adjusted EBITDA outlook for full year 2023.
Key Takeaways
Montrose Environmental Group announced strong second quarter performance with record levels of revenue and Consolidated Adjusted EBITDA, driven by robust demand across most business lines. The company is raising its full year revenue and Consolidated Adjusted EBITDA guidance.
Second quarter revenue increased by 13.7% year-over-year to $159.1 million.
Net loss was $(7.2) million, or a loss of $(0.38) per share, compared to a net loss of $(7.8) million, or a loss of $(0.40) per share in the prior year quarter.
Adjusted Net Income was $8.9 million, and Adjusted Net Income per Share was $0.16.
Second quarter Consolidated Adjusted EBITDA was $21.2 million, representing 13.3% of revenue, compared to $15.6 million in the prior year quarter.
Revenue by Segment
Forward Guidance
The Company has increased its expectation for full year 2023 revenue and Consolidated Adjusted EBITDA. 2023 Revenue is expected to be in the range of $590 million to $640 million and Consolidated Adjusted EBITDA is expected to be in the range of $75 million to $81 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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