The Company’s senior management will host a webcast and conference call on Monday, August 31, 2020 at 5:00 p.m. Eastern time to discuss second quarter financial results. IRVINE, Calif.–(BUSINESS WIRE)–Montrose Environmental Group, Inc. (the “Company” or “Montrose”) announced today the pricing of its initial public offering of 10,000,000 shares of its common stock, all of which are being offered by the Company, at a price of $15 per share (before underwriting discounts and commissions). Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. The offering of these securities will be made only by means of a prospectus.
-Ciara Linnane; 415-439-6400; [email protected] (END) Dow … Management compensates for these limitations by using these measures as supplemental financial metrics and in conjunction with our results prepared in accordance with GAAP. Our team executed well, worked hard to support each other and met the needs of our customers during the COVID-19 pandemic.
Many of the delayed projects have subsequently been awarded and started. Net loss was $28.0 million, compared to a net loss of $5.6 million in the prior year period.
Excluding discontinued services, which generated revenues of $1.3 million and $5.8 million in the 2020 and 2019 quarters, respectively, total revenue increased 40.5%. [])). From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. Overall, we believe that positive trends in our markets, solid execution of our strategy and continued new business wins provide us with a solid footing to achieve our goals in 2020 and beyond.”. View source version on businesswire.com: https://www.businesswire.com/news/home/20200831005693/en/, https://www.businesswire.com/news/home/20200831005693/en/. Investors are referred to the Company’s filings with the Securities and Exchange Commission, including its final prospectus dated July 22, 2020, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. A live webcast of the conference call will be available in the Investor Relations section of the Montrose website at www.montrose-env.com.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on July 22, 2020. In April 2020, the Company entered into a new $225 million credit facility, comprised of a $175 million term loan and a $50 million revolving credit facility, and used a portion of the proceeds to repay all amounts outstanding under the prior senior secured credit facility. The shares will begin trading tomorrow on the New York Stock Exchange under the symbol “MEG” and the offering is expected to close on July 27, 2020.
Adjusted EBITDA margin1 improved 270 basis points to 14.4%, compared to 11.7% in the prior year period. Input your search keywords and press Enter. Adjusted EBITDA margin1 improved 490 basis points to 18.8%, compared to 13.9% in the prior year quarter, mainly due to operating leverage at the segment level and temporary cost containment in response to COVID-19, which more than offset investments to support the Company’s public company infrastructure. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Additionally, we have provided estimates regarding Adjusted EBITDA and Adjusted EBITDA margin for 2020. TOTAL LIABILITIES, REDEEMABLE SERIES A-1 PREFERRED STOCK, CONVERTIBLE AND REDEEMABLE SERIES A-2 PREFERRED STOCK, UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Further, many of these factors are, and may continue to be, amplified by the COVID-19 pandemic.
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