Montrose Environmental Group, Inc. Common Stock (MEG)
20.82
-0.17 (-0.81%)
Montrose Environmental Group Inc is a prominent environmental services company that specializes in providing a wide range of solutions to help organizations manage environmental challenges
The company focuses on areas such as air quality, water resources, and waste management, delivering services that include environmental consulting, testing, and remediation. Montrose aims to assist clients in navigating complex regulatory environments and achieving sustainability goals, while also fostering collaboration and innovation in addressing pressing environmental issues. Through its expertise and commitment to environmental stewardship, Montrose supports businesses, governments, and communities in promoting cleaner and healthier ecosystems.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how environmental and facilities services stocks fared in Q3, starting with BrightView (NYSEBV).
Montrose has gotten torched over the last six months - since July 2024, its stock price has dropped 54.4% to $18.29 per share. This may have investors wondering how to approach the situation.
Environmental services provider Montrose (NYSEMEG) fell short of the market’s revenue expectations in Q3 CY2024, but sales rose 6.4% year on year to $178.7 million. On the other hand, the company’s outlook for the full year was close to analysts’ estimates with revenue guided to $715 million at the midpoint. Its non-GAAP profit of $0.41 per share was 26.8% above analysts’ consensus estimates.
