Montrose Environmental Group Reports Record Third Quarter and First Nine Months 2024 Results, Reaffirms Guidance, and Updates Strategic Capital Allocation Priorities
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Montrose Environmental Group reported record revenue for Q3 and the first nine months of 2024, reaffirmed its full-year guidance, and updated its strategic capital allocation priorities. The company achieved a total revenue of $178.7 million in Q3, a 6.4% increase from the previous year, and a record consolidated adjusted EBITDA of $28.3 million. Despite a net loss, Montrose reported an adjusted net income of $19.1 million. The company plans to focus on redeeming preferred equity and deleveraging while de-emphasizing acquisitions.
November 06, 2024 | 9:30 pm
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Montrose Environmental Group reported record Q3 2024 revenue and reaffirmed its full-year guidance. The company plans to focus on redeeming preferred equity and deleveraging.
Montrose Environmental Group's record revenue and reaffirmed guidance are positive indicators for the company's financial health. The focus on redeeming preferred equity and deleveraging suggests a strategic shift towards strengthening the balance sheet, which could be viewed favorably by investors.
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