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Montrose Environmental Group Inc Down 0.85% To $41.77 After Earnings Beat

Tuesday, August 09, 2022 03:09 PM | InvestorsObserver Analysts

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Montrose Environmental Group Inc Down 0.85% To $41.77 After Earnings Beat

Montrose Environmental Group Inc (MEG) said after close Monday that it earned $0.03 per share in quarter two 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $139.9 million, beating estimates by $2.3 million.

In the same quarter a year ago, the company lost $0.71 per share on revenue of $136.2 million.

The stock is down 0.85% to $41.77 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Montrose Environmental Group Inc has performed a little above average during the past few months. Before the report, Montrose Environmental Group Inc received a Long-Term Technical Rank by InvestorsObserver of 59, putting it in the top half of stocks. The firm was recently trading at a 52-week low of $28.36 on June 16, 2022 and set a 52-week high on November 10, 2021 at $80.42.

Montrose Environmental Group Inc is an environmental services company. The firm's operating segments are Assessment, Permitting and Response, Measurement and Analysis, and Remediation and Reuse. Through its Assessment, Permitting, and Response segment, the company provides scientific advisory and consulting services to support environmental assessments, environmental emergency response, and environmental audits. Measurement and Analysis include test and analysis of air, water, and soil to determine concentrations of contaminants whereas, the Remediation and Reuse segment provide clients with engineering, design, implementation, operations and maintenance services, to treat contaminated water, remove contaminants from soil or create biogas from food or agricultural waste.

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