SRCL - Stericycle climbs 6% after Q1 top and bottom beats estimates

2023-04-27 10:44:06 ET

Stericycle ( NASDAQ: SRCL ) stock is trading 6% higher after Q1 r evenues were reported at $684.3M, an increase of 3.0% vs. last year, beats consensus by $13.92M.

Grew organic revenues 7.2% compared with Secure Information Destruction growing 11.8% and Regulated Waste and Compliance Services growing 5.0%.

Income from operations was $40M, vs. $5.9M. Net income was $11.2M or GAAP EPS of $0.12. This compares to net loss of $14.2M last year.

Adjusted income from operations was $84.7M vs. $59M prior.  Non-GAAP EPS of $0.49 beats consensus by $0.05.

Cash flow from operations was an inflow of $49.5M, compared to an outflow of $38.8M in the same period of 2022.

Free cash flow improved with an inflow of $13.1M vs. $76.3M in the same period of 2022.

Reduced our credit agreement defined debt leverage ratio to 3.05X, down 0.23X since December 31, 2022.

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