Six Things to Know about Stericycle’s Latest Quarter

Six Things to Know about Stericycle’s Latest Quarter

Medical Waste firm Stericycle Inc. posted lower net profits but higher revenue for its second quarter.

Here are the highlights from Lake Forest, Ill.-based Stericycle’s financial report for the period ending June 30.

  1. Net income for Stericycle fell 26.2 percent in the first quarter to $60.4 million, or 70 cents per diluted share, compared with $81.9 million, or 95 cents per share, in the year-ago period.
  2. Revenue, however, climbed 11.7 percent to $715.7 million from $640.8 million, according to a news release. Acquisitions added about $58.9 million to the latest quarter’s total, which also took a hit from an unfavorable foreign exchange impact of $27.3 million.
  3. For the first six months net earnings for the medical waste firm dropped 15.6 percent to $135.9 million, or $1.57 per diluted share, compared with $161.1 million, or $1.87 per diluted share a year earlier.
  4. Revenue in the first half advanced 13.9 percent to $1.38 billion from $1.21 billion. Acquisitions contributed $145.2 million to the 2015 growth.
  5. Zacks Equity Research said Stericycle’s performance was “in sync” with the Zack Consensus Estimate. The financial firm said the 2015 decline in came despite a healthy top-line improvement was because of high operating expenses during the reported quarter.
  6. Stericycle got significantly bigger with the beginning of the third quarter this month. It bought information destruction firm Shred-it International for $2.3 billion. The Oakville, Ontario-based firm had pro forma revenue for the 12-month period ending in March of $726 million.
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