Montrose Environmental Grp

Onterris Inc., formerly Montrose Environmental Group, reduced its full-year 2026 revenue outlook to $740 million to $790 million and adjusted EBITDA outlook to $117 million to $120 million, citing lower pass-through and emergency-response revenue plus regulatory waivers delaying air-testing work. Second-quarter revenue fell to $186.7 million from $234.6 million, largely because the prior-year period included $53.6 million from a major environmental emergency-response event, while cost optimization lifted adjusted EBITDA margin to 17.1% from 16.9%. The board has begun a comprehensive strategic review that may include acquisitions, other value-creating transactions or continued standalone execution, with no decision or timetable established. Management still expects record adjusted EBITDA and materially stronger second-half cash flow, forecasting $70 million to $80 million of operating cash flow for the second half.