Montrose Environmental Group Announces First Quarter 2021 Results
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Montrose Environmental Group (MEG) PT Raised to $62 at Needham & Company
May 13, 2021 7:12 AM EDTNeedham & Company analyst James Ricchiuti raised the price target on Montrose Environmental Group (NYSE: MEG) to $62.00 (from $58.00) while maintaining a Buy rating.
The analyst commented, "While MEGs quarterly results can vary widely from one period to the next, there... More
Montrose Environmental (MEG) Misses Q1 EPS by 54c, Revenues Beat
May 12, 2021 4:21 PM EDTMontrose Environmental (NYSE: MEG) reported Q1 EPS of ($0.62), $0.54 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $133.8 million versus the consensus estimate of $95.36 million.
First Quarter 2021 Highlights
Total revenue of $133.8 million increased 119.3% compared to the prior year quarter.Net loss of $11.6 million compared to a net loss of $41.2 million in the prior year quarter. Net loss for first quarter 2021 was primarily due to non-cash fair value adjustment expenses.Adjusted EBITDA1 of $16.8 million increased 202.5% compared to the prior year quarter.Adjusted EBITDA margin1 improved to... More