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Dec 31, 2022
Montrose Q4 2022 Earnings Report
Announced fourth quarter and full year 2022 results, highlighting record year of broad-based organic revenue growth and customer revenue retention.
Key Takeaways
Montrose Environmental Group reported a decrease in total revenue for Q4 2022 to $139.5 million compared to $143.8 million in the prior year quarter, primarily due to lower demand for COVID-19 related services provided by CTEH. Excluding CTEH revenues, revenue increased by 10.6%. The company reported a net loss of $(10.8) million, or a loss of $(0.50) per share, compared to a net loss of $(1.5) million in the prior year quarter.
Total revenue in the fourth quarter of 2022 was $139.5 million compared to $143.8 million in the prior year quarter.
Net loss was $(10.8) million, or a loss of $(0.50) per share, in the fourth quarter of 2022 compared to a net loss of $(1.5) million, or a loss of $(0.19) per share, in the prior year quarter.
Adjusted Net Income was $6.4 million, and Adjusted Net Income Per Share was $0.07, in the fourth quarter of 2022 compared to Adjusted Net Income of $9.2 million, and Adjusted Net Income Per Share of $0.14 in the prior year quarter.
Fourth quarter 2022 Consolidated Adjusted EBITDA was $17.8 million, compared to $17.3 million in the prior year quarter.
Forward Guidance
The Company is introducing its full year 2023 outlook for revenue to be in the range of $550 million to $600 million and Consolidated Adjusted EBITDA to be in the range of $68 million to $74 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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