Loading...
•
Jun 30, 2024
Montrose Q2 2024 Earnings Report
Montrose reported record total revenue and Consolidated Adjusted EBITDA, with margin improvement across all three segments.
Key Takeaways
Montrose Environmental Group reported record second quarter results, with total revenue of $173.3 million, an increase of 8.9% compared to the prior year quarter. The company's Consolidated Adjusted EBITDA was $23.3 million, an increase of 10.0% compared to the prior year quarter. The company reaffirms full-year 2024 guidance for total revenue of $690 million to $740 million, and Consolidated Adjusted EBITDA of $95 million to $100 million.
Highest-ever total revenue of $173.3 million, an increase of $14.2 million, or 8.9%.
Margin expansion in all three segments.
Net loss of $10.2 million, or $0.39 net loss per diluted share attributable to common stockholders, and Adjusted Net Income of $10.8 million, or $0.20 Diluted Adjusted Net Income per share.
Record Consolidated Adjusted EBITDA of $23.3 million, an increase of $2.1 million, or 10.0%.
Revenue by Segment
Forward Guidance
The Company reaffirms its full year 2024 Revenue and Consolidated Adjusted EBITDA outlook. 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.
- Strong organic growth, five highly accretive acquisitions completed so far this year, and ongoing secular tailwinds reinforce our confidence in our outlook.
Challenges Ahead
- Revenue and Consolidated Adjusted EBITDA outlook does not include any benefit from future acquisitions.
- Higher interest and income tax expenses in the current year quarter.
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
Loading earnings performance data...
Loading earnings reaction data...