What is Montrose's gross profit margin?

What is Montrose's latest dividend and current dividend yield?

What factors drove the changes in Montrose's revenue and profit?

What does Montrose do and what are its main business segments?

What is the revenue and EPS growth rate for Montrose year over year?

What were the key takeaways from Montrose's earnings call?

What were the key takeaways from Montrose’s earnings call?

What is the market's earnings forecast for Montrose next quarter?

- **Revenue & EBITDA Records**: 26% YoY revenue growth to $637.3M, 30% EBITDA expansion to $92.3M. Free cash flow $38.8M.
- **Cross-Selling Success**: AP&R segment +75% YoY, driven by post-emergency response cross-selling (e.g., energy client remediation).
- **Water Treatment Growth**: Advanced technology and PFAS regulation clarity fueling organic growth and 20%+ margins.
- **2026 Outlook**: $125M+ EBITDA target with margin expansion, supported by strategic M&A restart.
- **Liquidity Strength**: $198.5M cash, 2.7x leverage, on track for <3x by year-end.

**【CEO Summary Section】**
- **Record Q3 Performance**: Revenue grew 26% YoY to $637.3M (year-to-date), with consolidated adjusted EBITDA up 30% to $92.3M. Free cash flow reached $38.8M, exceeding expectations.
- **Organic Growth Drivers**: 1% margin accretion from strong organic growth and operating leverage in consulting, testing, and water treatment. Cross-selling post-emergency responses (e.g., energy client incident) drove downstream testing and remediation opportunities.
- **Strategic Adjustments**: Exited renewables business to focus on higher-return opportunities, with wind-down complete by end-2025. 2026 outlook includes $125M+ EBITDA target and margin expansion.
- **Market Tailwinds**: State and local regulations (e.g., EU methane rules) offset federal policy uncertainty, with demand from energy, waste, and semiconductor clients.

**【CFO Financial Commentary】**
- **Q3 Financials**: Revenue $224.9M (+25.9% YoY), GAAP net income $8.4M (vs. -$10.6M prior year). Adjusted EBITDA $33.7M (+19%), operating cash flow $55.5M (+65% YoY).
- **Segment Performance**: 
  - **AP&R**: $91.1M (+75% YoY), driven by cross-selling after emergency responses. Margin 22.4% (vs. 21.5% prior year).
  - **Measurement & Analysis**: $63M (+7.5% YoY), margin 27.5% (vs. 22.9% prior year).
  - **Remediation & Reuse**: $70.8M (+4% YoY), margin 13.3% (impacted by renewables exit).
- **Liquidity**: $198.5M available cash, leverage 2.7x, on track for <3x by year-end.

**【Q&A Highlights】**
- **AP&R Growth**: 75% YoY driven by cross-selling post-emergency responses (e.g., energy client incident). Some pull-forward from Q4 into Q3, but structural benefits remain.
- **Water Treatment Momentum**: PFAS regulation clarity and advanced technology enable broader contaminant applications. Organic growth and margin expansion expected.
- **M&A Strategy**: Restarting in 2026, focusing on large-cap private assets (17-20x EBITDA) and international expansion. Avoiding subscale bolt-ons in favor of self-help.
- **Remediation Margins**: Water treatment business (high teens margin) offsetting renewables exit. Full-margin contribution expected post-2025.
- **Market Trends**: Increased mining activity in Canada/Australia, EU methane rules, and state-level environmental regulations driving demand across segments.

MEG

MEG fundamentals

You can ask Aime