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More on Stericycle Q3 results; shares up 7%

Oct. 31, 2019 2:38 PM ETStericycle, Inc. (SRCL) StockSRCLBy: Akanksha Bakshi, SA News Editor1 Comment
  • Stericycle (SRCL +7.3%) reported revenue decline of 2.3% Y/Y, due to macroeconomic factors of SOP pricing and foreign exchange rates.
  • Revenue by services: Regulated Waste and Compliance $474.9M (-1.7% Y/Y); Secure Information Destruction $222.6M (-5% Y/Y); Communication and Related $58.9M (-12.7% Y/Y); and Manufacturing and Industrial $76.7M (-2.4% Y/Y).
  • Q3 Gross margin declined by 380 bps to 35.5%.
  • Loss from operations was $34.5M, compared to income from operations of $68.3M last year.
  • Q3 Adj. EBITDA was $150.5M; and margin was 18.1% down by 345 bps.
  • Cash flow from operations YTD was $201.2M, compared to $89.9M a year ago.
  • Company reported positive free cash flow of $77.2M for the quarter, and $40M for YTD.
  • FY19 Guidance: Revenues $3.3B to $3.335B (prior $3.35B - 3.41B); Adj. EBITDA $575M -$595M; Adj. EPS $2.55 to $2.70 (prior $2.50-2.85); expects Minimum FCF of $50M; and Capex $180M-$200M.
  • Previously: Stericycle EPS beats by $0.12, misses on revenue (Oct. 31)

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