Advanced Disposal’s ADS Posts Smaller Loss in Fourth Quarter, YearAdvanced Disposal’s ADS Posts Smaller Loss in Fourth Quarter, Year
March 21, 2014
ADS Waste Holdings Inc., Advanced Disposal Services Inc.’s parent firm, reported a smaller loss than a year ago for its fourth quarter and year as it nears financial completion of its Veolia ES Solid Waste purchase and the firm’s integration and restructuring costs.
For the fourth period ended Dec. 31, 2013, the Ponte Vedra, Fla.-based ADS lost $36 million compared with $186.2 million for the 2012 period. Restructuring charges in 2013 totaled $10.5 million and in 2012 $40.9 million.
Revenue climbed 69.4 percent to $333.6 million compared with $196.9 million a year earlier, according to a news release.
For the most recent year, the company's net loss totaled $117.8 million, compared with $192.6 million in 2012. Revenue jumped 145.2 percent to $1.32 billion from $537.9 million a year earlier.
“We have substantially completed our integration and rebranding efforts across the area in which we operate, and continue to focus on our overall growth strategy,” said CEO Charlie Appleby. “This year represented a substantial year of change in our company, and we focused on ensuring that we successfully integrated these three companies (Advanced, Veolia and Interstate Waste Services Inc.).”