Montrose environmental group reports record third quarter and first nine months 2024 results, reaffirms guidance, and updates strategic capital allocation priorities

Third quarter 2024 highlights (comparisons to third quarter 2023) highest-ever total revenue of $178.7 million, an increase of $10.8 million, or 6.4% net loss of $10.6 million, or $0.39 net loss per diluted share attributable to common stockholders (lps), and adjusted net income1 of $19.1 million, or $0.41 diluted adjusted net income per share1 (adj eps) record consolidated adjusted ebitda1 of $28.3 million, an increase of $5.0 million, or 21.5% consolidated margin expansion reaffirms full-year 2024 guidance for total revenue of $690 million to $740 million, and consolidated adjusted ebitda1 of $95 million to $100 million first nine months 2024 highlights (comparisons to first nine months 2023) record total revenue of $507.4 million, an increase of $48.9 million, or 10.7% net loss of $34.1 million, or $1.30 lps, and adjusted net income1 of $38.6 million, or $0.80 adj eps1 record consolidated adjusted ebitda1 of $68.5 million, an increase of $7.5 million, or 12.2% received five patents in 2024, bringing total patent portfolio to 23, which enhance differentiated capabilities across multiple contaminants, including pfas strategic capital allocation priorities long-term capital allocation strategy unchanged near-term priority is redemption of preferred equity and subsequent deleveraging; concurrently de-emphasizing acquisitions continued focus on cash flow generation little rock, ark. , nov. 6, 2024 /prnewswire/ -- montrose environmental group, inc. (the "company," "montrose" or "meg") (nyse: meg) today announced results for the third quarter and first nine month periods ended september 30, 2024.
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