SRCL - Stericycle stock falls 13% as earnings outlook falls short
- Stericycle ( NASDAQ: SRCL ) shares fell 13% on Thursday after the waste and compliance services provider fell short of Wall Street estimates with its fourth quarter results .
- The company generated adjusted earnings of $0.60 per share on revenue of $670.4M that grew 2% Y/Y. Revenue growth was slower than expected, with organic revenues +5.7%.
- Adjusted income from operations came at $90.6M, compared to $64.2M in the fourth quarter of last year. As a percentage of revenues, adjusted income from operations improved 370 basis points compared to the fourth quarter of 2021.
- However, free cash flow slipped from $186.2M in 2021 to $68M at 2022-end.
- Stericycle ( SRCL ) also issued an earnings forecast for the current year that was below analyst estimates. It expects organic revenue growth in the range of 3%-5% and adjusted EPS of $1.75-$2.05 vs. $2.40 consensus .
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Stericycle stock falls 13% as earnings outlook falls short