Stock Story -
Environmental services provider Montrose (NYSE:MEG) will be reporting earnings tomorrow afternoon. Here's what to expect.
Montrose beat analysts' revenue expectations by 2.1% last quarter, reporting revenues of $155.3 million, up 18.2% year on year. It was a strong quarter for the company, with an impressive beat of analysts' organic revenue estimates and full-year revenue guidance beating analysts' expectations.
Is Montrose a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Montrose's revenue to grow 9.3% year on year to $173.9 million, slowing from the 13.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Montrose has missed Wall Street's revenue estimates three times over the last two years.
Looking at Montrose's peers in the waste management segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Clean Harbors delivered year-on-year revenue growth of 11.1%, beating analysts' expectations by 1.5%, and Casella Waste Systems reported revenues up 30.2%, topping estimates by 1.2%. Clean Harbors traded up 8% following the results while Casella Waste Systems was also up 3.2%.
Read the full analysis of Clean Harbors's and Casella Waste Systems's results on StockStory.
There has been positive sentiment among investors in the waste management segment, with share prices up 2.8% on average over the last month. Montrose is down 25.4% during the same time and is heading into earnings with an average analyst price target of $52 (compared to the current share price of $29.15).
![Montrose (MEG) Q2 Earnings Report Preview: What To Look For](https://d68-invdn-com.investing.com/content/piceb22340d124fe66a5c172bcf9b9f5b8d.jpeg)