Montrose Environmental (MEG) came out with quarterly earnings of $0.20 per share, missing the Zacks Consensus Estimate of $0.24 per share. This compares to loss of $0.38 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -16.67%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.16, delivering a surprise of 220%. Over the last four quarters, the compa ...

Core Viewpoint - MEG Energy's Q2 results show strong production growth but weak cash flow due to inventory buildup and initial TMX pipeline filling, impacting sales and free cash flow [6][7]. Operational Results - Bitumen production reached 102,309 bbl/d, a 17% year-over-year increase [7]. - Bitumen sales were lower at 99,337 bbl/d, primarily due to inventory buildup [7]. - The steam-oil ratio improved to 2.40 from 2.25 year-over-year [2]. Financial Results - Revenues for Q2 were C$2,737 million, slightly down from C$2,771 million in the previous quarter [2]. - Net earnings increased to C$234 million from C$217 million year-over-year [2]. - Free cash flow is projected to exceed C$800 million for the year, with around C$140 million allocated for debt repayment [19]. Capital Expenditures and Debt Management - Capital expenditures for the first half of 2024 were C$235 million, with an expected increase of C$100 million in the second half to support production growth [15]. - Long-term debt decreased to C$954 million from C$1,382 million [2]. Shareholder Returns - MEG initiated a small quarterly dividend of C$0.1 per share, yielding 1.5%, while also focusing on share buybacks [8]. - The company aims to return significant free cash flow to shareholders through buybacks and dividends, with a potential for a growing dividend in the future [19][24]. Market Position and Valuation - The WTI-WCS differential improved to US$16.46 from US$20.02 quarter-over-quarter, enhancing profitability [2][7]. - The company is currently valued at a 15% return, with a fair valuation projected at C$33, indicating a 20% upside potential [25].

LITTLE ROCK, Ark., July 30, 2024 /PRNewswire/ -- Montrose Environmental Group, Inc. ("Montrose" or "the Company") (NYSE: MEG), a high-growth global environmental solutions company, today shared insight on the use of its Leak Detection Sensor Network (LDSN) solution to enhance real-time emissions monitoring in a U.S. Gulf Coast refinery. The EPA allows for alternative means of emission limitation (AMEL) for nonstandard leak detection monitoring systems through the Clean Air Act. The federal law establishes e ...

Ahead of regulatory enforcement and to proactively address PFAS passively received in municipal solid waste, Waste Connections contacted Montrose and its subsidiary ECT2 to evaluate and identify the best PFAS removal technology for landfill leachate at their Champ Landfill in Missouri. Key components of the project included: Research, development and deployment of a pilot treatment system; Use of ECT2's patented FOAM-X™ treatment system; Rapid leachate sample analysis by Montrose subsidiary Enthalpy Analyti ...

LITTLE ROCK, Ark., July 16, 2024 /PRNewswire/ -- Montrose Environmental Group, Inc. ("Montrose" or "the Company") (NYSE: MEG), a high-growth global environmental solutions company, today shared insight into the use of their proprietary technology to address air monitoring regulations in Colorado. Montrose partnered with two of the four affected facilities in Colorado to install and operate a fenceline air monitoring program, including the development of a monitoring plan, to satisfy the requirements of HB21 ...

LITTLE ROCK, Ark., July 9, 2024 /PRNewswire/ -- Montrose Environmental Group, Inc. ("Montrose" or "the Company") (NYSE: MEG), a high-growth, global environmental solutions company, today shared insight into the first-ever leak detection and repair (LDAR) alternative work practice (AWP) deployed in a U.S. refinery. Leaking equipment has been cited by the United States Environmental Protection Agency (EPA) as the primary source of volatile organic compounds (VOCs) and volatile hazardous air pollutants (HAPs) ...

The 2023 Sustainability Report Executive Summary focuses on Montrose's sustainability approach, the impact of environmental solutions provided and Montrose's own environmental performance. The Executive Summary celebrates the Company's 2023 accomplishments including: Additionally, the application of innovative solutions resulted in meaningful impact in 2023, including: Read Montrose's 2023 Sustainability Report Executive Summary to learn more about the Company's sustainability achievements and innovative ad ...

"At Montrose, we view our business' sustainability as core to our decision framework," said Vijay Manthripragada, President and Chief Executive Officer of Montrose Environmental Group. "Our sustainability approach addresses the elements identified by our materiality assessment, focusing on factors most relevant to our business, stakeholders and employees. This informs our comprehensive strategy for serving and assisting our clients – the One Montrose way. This means integrating sustainable practices into ou ...

Montrose Environmental Group, Inc. Reconciliation of Net Loss to Consolidated Adjusted EBITDA (In thousands) First Quarter 2024 Earnings Call May 8, 2024 Included in this presentation and the accompanying oral presentation are certain financial measures that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP") designed to supplement, and not substitute, Montrose's financial information presented in accordance with GAAP. The non-GAAP measures as defined by Montrose may ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39394 Montrose Environmental Group, Inc. (Exact Name of Registrant as Specified in its Charter) | Delaware | 46-4195044 | | --- | ...