Montrose Environmental(US:MEG)2021-05-17 18:31Financial Performance - Revenue increased by 119% year-over-year to $133.8 million in Q1 2021[8] - Adjusted EBITDA increased by 203% year-over-year to $16.8 million in Q1 2021[10] - Adjusted EBITDA margin expanded by 350 basis points year-over-year, reaching 12.6% of revenue in Q1 2021[12] - The company's equity capitalization is approximately $1.7 billion, including $1.4 billion in common equity and $182 million in preferred equity[25] Growth and Strategy - The company anticipates revenue growth exceeding 20% per year for the foreseeable future[14, 26] - The company is focused on organic growth, strategic acquisitions, and market growth driven by regulations, investor priorities, and infrastructure investment[16, 17, 18] - The company expects mid-to-high single digit organic growth in 2021, supplemented by completed acquisitions[26] Capital Structure - The company has a net leverage of 3.1x as of March 31, 2021, as calculated per the credit agreement[24] - The company replaced its credit agreement with a new sustainability-linked credit facility, decreasing the core borrowing rate from 5.50% to LIBOR plus 2.00%[24] - The company has $83 million of availability under the new credit facility as of April 30, 2021, with a $150 million accordion feature for additional capital access[24]