IRVINE, Calif. (AP) _ Montrose Environmental Group, Inc. (MEG) on Wednesday reported a first-quarter loss of $11.6 million, after reporting a profit in the same period a year earlier.
The Irvine, California-based company said it had a loss of 62 cents per share. Losses, adjusted for non-recurring costs, came to 2 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The company posted revenue of $133.8 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $93.9 million.
Montrose Environmental shares have climbed 61% since the beginning of the year.
The Associated Press