Montrose Environmental Group Inc reports results for the quarter ended in June - Earnings Summary

Onterris

07/08/2024 24:00

* Montrose Environmental Group Inc  MEG.N  reported a
quarterly
adjusted loss of 39 cents​​ per share for the quarter ended in
June, lower than the same quarter last year, when the company
reported EPS of -38 cents.  The mean expectation of six analysts
for the quarter was for a loss of 22 cents per share. Wall
Street expected results to range from -28 cents to -18 cents per
share.
    * Revenue rose 8.9% to $173.33 million from a year ago;
analysts
expected $173.94 million. 
    * Montrose Environmental Group Inc's reported EPS for the
quarter
was a loss of 39 cents​.
    * The company reported a quarterly loss of $12.92 million.
    * Montrose Environmental Group Inc shares had fallen
by 39.5% this
quarter and lost 16.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.3%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the environmental
services & equipment peer group is also "buy"

Wall Street's median 12-month price target for Montrose
Environmental Group Inc is $52.00 
This summary was machine generated from LSEG data August 6 at
10:59 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.22          -0.39          Missed
 Mar. 31 2024      -0.45          -0.53          Missed
 Dec. 31 2023      -0.36          -0.18          Beat
 Sep. 30 2023      -0.23          -0.39          Missed