Montrose Environmental Group Announces First Quarter 2021 Results
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May 13, 2021 7:12 AM EDT
Needham & 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
May 12, 2021 4:21 PM EDT
Montrose 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...
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