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Earnings analysis · 10-Q

MEG earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Onterris reported Q1 2026 revenue of $168.5 million, down 5.2% compared to $177.8 million in Q1 2025, primarily due to decreased environmental emergency response revenues. However, the company's EPS improved…

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Onterris reported Q1 2026 revenue of $168.5 million, down 5.2% compared to $177.8 million in Q1 2025, primarily due to decreased environmental emergency response revenues. However, the company's EPS improved significantly to -$0.35 from -$0.64 in the prior year, indicating better operational efficiency despite declining revenues.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $61 Operating expenses $43 Left as operating profit $-4

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$-0.35
Segment
Consulting and Treatment, Measurement and Analysis

What stood out

  • Improvement in EPS

    EPS improved to -$0.35, a significant increase from -$0.64 in Q1 2025.

  • Cost of Revenues Declined

    Cost of revenues decreased by $6.9 million or 6.4%, contributing to better margins despite lower revenues.

  • Decrease in Operating Expenses

    SG&A expenses fell by 7.4% to $61.3 million, reflecting effective cost management.

  • Adjusted EBITDA Stability

    Adjusted EBITDA for total reportable segments remained stable at $30.1 million compared to $30.3 million in Q1 2025.

  • Sufficient Liquidity

    As of March 31, 2026, Onterris had $178.4 million available under its credit facility, and cash on hand was $10.0 million.

  • Reduction in Interest Expense

    Interest expense increased only slightly to $5.5 million from $5.1 million, remaining manageable given the increased debt.

What to watch

  • Revenue Decline

    Q1 2026 revenue of $168.5 million was down 5.2% year-over-year, primarily due to a $5.8 million decrease in emergency response revenues.

  • High Working Capital Needs

    Working capital increased by $16.3 million, indicating tighter cash flow management than in Q1 2025.

  • Increased Debt Levels

    Total debt increased to $321.4 million from $288.3 million at year-end 2025, raising concerns about financial leverage.

Management's outlook

Full-year revenue guidance remains unchanged at $840M-$900M, indicating expectations of improved performance as the year progresses.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.