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Dec 31, 2023
Montrose Q4 2023 Earnings Report
Announced fourth quarter and full year 2023 results, reporting record full year revenue and cash flow from operations.
Key Takeaways
Montrose Environmental Group reported an 18.8% increase in Q4 revenue to $165.7 million, driven by acquisitions and organic growth across segments. Net loss decreased to $(1.4) million, with Adjusted Net Income at $10.6 million and Consolidated Adjusted EBITDA at $17.5 million.
Total revenue in the fourth quarter of 2023 was $165.7 million compared to $139.5 million in the prior year quarter, an increase of 18.8%.
Net loss was $(1.4) million, or a loss of $(0.18) per share basic and diluted, in the fourth quarter of 2023 compared to a net loss of $(10.8) million, or a loss of $(0.50) per share basic and diluted, in the prior year quarter.
Adjusted Net Income was $10.6 million, and Diluted Adjusted Net Income per Share was $0.27, in the fourth quarter of 2023 compared to Adjusted Net Income of $9.0 million, and Diluted Adjusted Net Income per Share of $0.25 in the prior year quarter.
Fourth quarter 2023 Consolidated Adjusted EBITDA was $17.5 million, compared to $17.8 million in the prior year quarter.
Revenue by Segment
Forward Guidance
The Company is initiating its full year 2024 outlook for Revenue to be in the range of $675 million to $725 million. Consolidated Adjusted EBITDA is expected to be in the range of $90 million to $95 million.
Positive Outlook
- Revenue to be in the range of $675 million to $725 million.
- Consolidated Adjusted EBITDA is expected to be in the range of $90 million to $95 million.
- The midpoints of the ranges incorporate an expectation of low double digit organic revenue growth
- Continued year-on-year Consolidated Adjusted EBITDA margin expansion.
- Revenue and Consolidated Adjusted EBITDA outlook does not include any benefit from future acquisitions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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