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Sep 30, 2021
Montrose Q3 2021 Earnings Report
Montrose's third quarter performance in 2021 was marked by solid execution and strategic acquisitions, driving substantial revenue growth and a return to profitability.
Key Takeaways
Montrose Environmental Group reported a strong third quarter in 2021, with a 56.5% increase in total revenue to $132.6 million. The company achieved a net income of $2.2 million, a significant improvement from the prior year's net loss of $30.7 million. Adjusted EBITDA increased by 28.6% to $21.5 million, although the Adjusted EBITDA margin declined to 16.2%.
Total revenue increased by 56.5% year-over-year, reaching $132.6 million.
Net income was $2.2 million, a significant turnaround from a $30.7 million net loss in the prior year.
Adjusted EBITDA grew by 28.6% to $21.5 million, with a margin of 16.2%.
The company completed two accretive acquisitions during the quarter.
Forward Guidance
Montrose Environmental Group anticipates full year 2021 Adjusted EBITDA to be in the range of $75 million to $80 million.
Positive Outlook
- Continued organic growth across its segments
- Contribution of completed acquisitions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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