SRCL - Stericycle falls 7% as Q3 results miss estimates

Stericycle (SRCL -7.3%) is falling after Q3 results failed to beat analysts' estimates. Q3 revenues rose 2% Y/Y to $648.9M mainly due to the increase in Regulated Waste and Compliance Services (“RWCS”) revenues, which was partially offset by the impact of divestitures of $21.6M and decline in SID organic revenue of $2.1M. “We are pleased with the continued strong revenue growth in Regulated Waste and Compliance Services. In addition, we achieved an important milestone in one of our key business priorities by completing the deployment of the North America ERP system for Secure Information Destruction,” said CEO Cindy Miller. Loss from operations was $50.6M, compared to a loss from operations of $55.8M in Q3 2020. The improvement was primarily due to divestitures, with lower Y/Y divestiture and impairment losses of $93.2M. Cash flow from operations for the nine months ended Sept. 30, 2021 was $202.2M, compared to $365.2M in the same period

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Stericycle falls 7% as Q3 results miss estimates