ADS Waste Holdings Inc., the operating firm of Advanced Disposal, posted a smaller loss in its first quarter on increased revenue.
The net loss for the Ponte Vedra, Fla.-based waste and recycling firm totaled $10.8 million for the first quarter ended March 31. A year ago, the net loss totaled $19.3 million.
Revenue for the firm rose 2.9 percent to $330.4 million compared with $321.2 million in 2014, according to a news release.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose $7.5 million, the fourth consecutive quarter of year-over-year adjusted EBITDA gains.
"Our continued efforts to profitably grow the business, maintain pricing discipline and control costs will provide us with a firm foundation to build on the momentum that we have seen over the last four quarters," said CEO Richard Burke.
In 2014 the company recorded a smaller net loss for the year compared with 2013, on higher revenue and a profit for the fourth quarter. ADS reported a net loss for the year of $17.1 million, compared with a net loss of $117.8 million a year earlier. Revenue for 2014 increased 6.4 percent to $1.4 billion.
But Advanced has continued with its aggressive acquisition plan. It just bought Wisconsin waste hauler Little Hoppers. It is the fourth acquisition for Advanced Disposal in 2015.
Leone Young’s latest Business Insights column came out before ADS’ results were posted, but she wrote about general trends in the first quarter as reflected by the industry’s Big Four publicly held companies. She sees improving results and volume, but factors outside the industry’s control are hurting the business. Those include the difficult winter weather and tougher comparables, as well as slower energy waste results.