Montrose Environmental Group Inc Q2 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samuel Kusswurm - William Blair & Company L.L.C., Research Division - Analyst : This is Sam Kusswurm on for Tim. I guess to start, I know you shared you expect to bring Matrix margins up to low- to mid-teens range by 2024. Now that you've had some time to work with the acquisition more, would you mind sharing what changes specifically you're trying to make to drive that margin expansion?

Question: Samuel Kusswurm - William Blair & Company L.L.C., Research Division - Analyst : Got you. Appreciate that. Maybe pivoting on the Biogas, just in relation to Biogas business. I was wondering if you or your clients even had any thoughts on the EPA's recent finalization of the renewable fuel standard and what that might mean for your business going forward through the year and maybe even beyond?

Question: Stephanie L. Yee - JPMorgan Chase & Co, Research Division - Analyst : I wanted to ask about the comments around some of the PFAS projects being pushed out by the clients. I think maybe I missed it last quarter, but I thought some of the project timing shift was due to the tremendous growth that you guys saw in the prior year, and so giving the team time to kind of absorb some of those projects. So I'm just wondering if kind of the project timelines that we're hearing about this quarter, it was something that developed in the quarter? Or was it just something that was ongoing that you didn't necessarily call out in the prior quarter?

Question: Stephanie L. Yee - JPMorgan Chase & Co, Research Division - Analyst : Okay. Okay. That's very helpful. And then just on the acquisition that you announced in Denmark. Does that kind of double the size of ECT2 presence in Europe? And does it kind of give you a platform for further [acquisitions] in Europe?