The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Vijay and Allen, good morning.
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Doing well, thank you. So, a couple questions for me the first one, you know just want to have a broader conversation on this topic of deregulation.
We recently saw Lee Zeldin's list of top priorities for environmental deregulation at the EPA. I guess I'm curious if you've had a chance to review
those 31 proposed actions as well, things like reconsidering the quad regulations or the math regulations, for example. How do you think about
the potential risks and maybe opportunities, associated with this list of priorities?
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Yeah, that's really helpful caller. Thanks, Vijay, and it is good to hear that. What you were kind of expecting when Trump was first elected is kind of
manifesting itself through the 1st 4 or 5 months of the year. So that's good to hear. I'm going to pivot to your T&M business which came in quite
a bit stronger than I expected, for the first quarter on both a revenue and the margin front. I'm curious if there's anything to call out here, like any
particular business line or and market that's really picked up lately, we just love to hear more about what's going on in this business.
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Yeah, our measurement analysis, yeah, thank you.
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MAY 08, 2025 / 12:30PM, MEG.N - Q1 2025 Montrose Environmental Group Inc Earnings Call
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Okay, thanks so much. I'll hop back into you.
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Yeah, thanks for fitting me back in. I just wanted to build on that last conversation you were having around the EPA. It was good to see the comments
that they made around PFOS, but I was wondering if you've seen any efforts just as we think about the Trump administration's, EPA generally. Have
you seen any impacts from the efforts to reduce the workforce at the EPA? Has this impacted environmental compliance behavior and any of your
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MAY 08, 2025 / 12:30PM, MEG.N - Q1 2025 Montrose Environmental Group Inc Earnings Call
clients, and we saw the White House budget proposal for a 50% cut to the EPA budget. I'm just curious how you think these workforce reductions
and potential budget cuts would would translate in terms of impacting your business.
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Okay, thank you. I wanted your perspective on that maybe since we haven't heard from Alan very much, I could throw one his way, Alan, we, after
you pay off the remainder of the preferred instrument later this year, what do you expect the leverage ratio to be at the end of the year after that
happens? And what is the leverage ratio target that you'd like to achieve you know before returning to the M&A market?
Question: Tim Mulrooney - William Blair & Company, LLC - Analyst
: Okay. Thank you, guys.
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