Allan Gerlat, News Editor

October 26, 2015

1 Min Read
Seven Takeaways from Stericycle’s Latest Financial Results

Medical waste firm Stericycle Inc. reported a drop in net earnings but higher revenue for its third quarter–a similar result to its previous fiscal period.

Here are seven takeaways from the Lake Forest, Ill.-based company’s latest results, for the quarter ended Sept. 30.

  1. Net income declined 49.2 percent to $42.2 million, or 47 cents per diluted share, compared with $83 million, or 96 cents per diluted share, in the 2014 period.

  2. Revenue climbed 7.6 percent to $718.6 million from $667.9 million a year earlier, the company said in a news release. Acquisitions added about $33.3 million in revenues to the current period’s growth.

  3. For the nine-month period, net profits for Stericycle fell 27.1 percent to $178.9 million, or $2.04 per diluted share, compared with $245.5 million, or $2.83 per diluted share, in the year-ago period.

  4. For the same year-to-date period, revenue rose 11.7 percent to $2.1 billion from $1.88 billion in the 2014 period.

  5. Zacks Equity Research characterized earnings per share results as “woefully short” of its consensus estimate by 10 cents. It said the significant decline occurred despite a healthy top-line improvement and was the result primarily of high operating, acquisition and integration expenses.

  6. Earlier in October Stericycle settled a long-standing lawsuit regarding charges that it had been systematically overcharging government entities for its services. The settlement totaled $26.8 million.

  7. In July Stericycle made a huge acquisition, buying information destruction firm Shred-it International for $2.3 billion.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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