Stericycle Q1 Profit Rises, Tops View

(RTTNews) - Specialized waste disposal solution provider Stericycle, Inc. (SRCL), Thursday reported an increase in first quarter profit on a near 11 percent growth in revenues, easily surpassing Wall Street estimates.

Stericycle reported first quarter earnings attributed to the company of $79.1 million, up from $74.6 million in the prior year quarter. On a per share basis, earnings rose 7.1 percent to $0.91 from $0.85 in the same quarter last year.

On an adjusted basis, earnings rose 17.6 percent to $1.04 per share from $0.88 per share in the prior-year quarter. On average, eighteen analysts polled by Thomson Reuters expected earnings of $0.99 per share for the quarter. Analysts' estimates normally exclude one-time items.

Revenues for the first quarter grew 10.9 percent to $570.0 million from $513.8 million in the corresponding quarter last year. Sixteen analysts had a consensus revenue estimate of $572.53 million for the quarter.

Revenues increased 12.5 percent when adjusted for unfavorable foreign exchange impacts of $8.1 million.

Gross profit, as a percent of revenue, was 44.8 percent, compared to the 45.2 percent recorded a year ago.

SRCL shares closed Thursday's regular trade at $113.11, up $0.22 or 0.19%, on a volume of 0.36 million shares on the Nasdaq.