Montrose Environmental Group: An Environment of Financial Shenanigans

Vic Bonilla of Jehoshaphat Research joins Zer0es TV to present his short thesis on Montrose Environmental Group (MEG). The biggest issue facing the company is its lack of organic growth, which investors wrongly believe is in the double-digit percentages. The company’s financial reporting more generally is rife with problems that obscure the troubles building. In reality, Jehoshaphat sees a struggling business with negative organic growth, negative free cash flows, too much debt, heavily adjusted “adjusted EBITDA”, and a host of corporate governance issues.