| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 224.89 | 4.1% | 25.9% |
| Total Income | 224.89 | 4.1% | 25.9% |
| Expenditure | 214.95 | 2.1% | 19.5% |
| PBT | 15.66 | 19.0% | 270.2% |
| Net Profit | 8.38 | 54.4% | 179.4% |
| OPM | 4.42% | 1.95pp | 5.07pp |
| NPM | 3.73% | 4.10pp | 9.64pp |
| EPS | 0.24 | 50.0% | 161.5% |
Montrose Environmental Group Reports Record Q3 2025, Revenue Up 25.9%
04 May 2026 · 4 May, 8:13 am
Summary
Montrose Environmental Group reported a strong third quarter and first nine months of 2025, with significant revenue and earnings growth. Third quarter revenue increased by 25.9% to $224.9 million, and net income improved to $8.4 million. For the first nine months, revenue grew by 25.6% to $637.3 million, and net income improved to $7.4 million. The company also increased its full-year 2025 guidance for Consolidated Adjusted EBITDA to a range of $112.0 million to $118.0 million, representing 20% growth at the midpoint compared to full-year 2024. The company expects full-year 2026 Consolidated Adjusted EBITDA to be at or above $125.0 million.
Key Highlights
- 1
Revenue increased by 25.9% to $224.9 million in the third quarter of 2025 compared to the third quarter of 2024.
- 2
Net income improved to $8.4 million, or $0.21 EPS, compared to a net loss of $10.6 million, or $0.39 LPS, in the prior year quarter.
- 3
Consolidated Adjusted EBITDA grew by 18.9% to $33.7 million in the third quarter of 2025.
- 4
For the first nine months of 2025, revenue grew by 25.6% to $637.3 million.
- 5
Net income for the first nine months of 2025 improved to $7.4 million, or $0.08 EPS, compared to a net loss of $34.1 million, or $1.30 LPS, in the prior year period.
- 6
Consolidated Adjusted EBITDA for the first nine months of 2025 grew by 34.6% to $92.3 million.
- 7
The company increased its expected full-year 2025 Consolidated Adjusted EBITDA to a range of $112.0 million to $118.0 million.
Management Comments
Vijay Manthripragada
I am thrilled to announce another outstanding quarter as our record 2025 continues. The credit goes to our ~3,500 colleagues around the world to whom I am incredibly grateful. Demand for our services is elevated, driven by broader market forces, increased domestic industrial production in our key geographies and state and provincial regulations. This is our third consecutive quarter of record results, including free cash flow1 generation that exceeded expectations. Our outperformance year to date is primarily due to strong organic growth across all three of our segments and the resultant operating leverage which continues to drive margin accretion. Due to our strong performance, we are increasing our guidance for 2025. At the midpoint of our increased guidance for 2025, we expect 18% revenue growth and 20% Consolidated Adjusted EBITDA1 growth over 2024. In addition, given the momentum in the business, we are providing a preliminary Consolidated Adjusted EBITDA1 outlook for 2026 which continues our attractive organic growth trajectory and continued margin accretion.
Informational and educational content only. Not investment advice.