Onterris (NYSE:ONT), an environmental services provider, missed Q2 CY2026 revenue estimates, with sales falling 20.4% year-on-year to $186.7 million. This was 6.3% below analyst expectations of $199.3 million. Following the results, the stock dropped 17.5%. The company's full-year revenue guidance of $765 million came in 10.9% below analyst estimates. However, Onterris beat earnings expectations with adjusted earnings per share of $0.51, 33.2% above the consensus estimate of $0.38. Operating margin declined to 3.5% from 6.7% in the same quarter last year, whilst free cash flow margin fell to 0.3% from 8.5%. Analysts expect revenue to grow 14.6% over the next 12 months.

Montrose Environmental Group, now operating as Onterris, reported first-quarter revenue of $168.5 million, down from $177.8 million in the prior year, as severe winter weather and reduced environmental emergency response activity impacted results. CEO Vijay Manthripragada attributed the decline to timing rather than weakening demand. Despite the revenue drop, profitability remained resilient with adjusted EBITDA at $17.8 million and margins nearly flat at 10.6%. The Consulting and Treatment segment saw improved margins, whilst Measurement and Analysis faced weather-related pressures. Management reaffirmed full-year 2026 guidance of $840 million to $900 million in revenue and $125 million to $130 million in adjusted EBITDA, expecting revenue to shift towards the second half. The company recently rebranded to Onterris following an 18-month integration effort.

Montrose Environmental Group rebranded as Onterris and changed its NYSE ticker to ONT after reporting $830.5 million in revenue and acquisitions-led growth.