Stericycle, Inc. (SRCL - Free Report) reported impressive third-quarter 2022 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
Better-than-expected results impressed investors as the stock has risen 6.6% since the earnings release on Nov 3.
Quarterly EPS (excluding 35 cents from non-recurring items) of 65 cents beat the Zacks Consensus Estimate by 10.2% and increased 47.7% year over year. Revenues of $690.3 million also beat the consensus mark by 3% and moved up 6.4% year over year. Organic revenues increased 10.9% year over year.
Revenues by Service
Regulated Waste and Compliance Services revenues decreased 3% year over year on a reported basis but increased 2.2% on an organic basis to $447.8 million. Secure Information Destruction revenues increased 29.5% year over year on a reported basis and 32.3% organically to $242.5 million.
Revenues by Geography
Revenues from North America were $584.8 million, up 11.6% year over year on a reported basis and 13.2% organically. International revenues of $105.5 million declined 15.6% year over year but inched up 1.3% organically.
Profitability Performance
Adjusted gross profit in the quarter amounted to $266.2 million, up 11.1% from the year-ago quarter’s levels. Adjusted gross profit margin was 38.6%, up from 36.9% in the prior-year quarter.
Adjusted EBITDA was $119.3 million, up 19.4% from the year-ago quarter’s figure. Adjusted EBITDA margin was 17.3%, up from 15.3% in the prior-year quarter.
Balance Sheet & Cash Flow
Stericycle exited the quarter with cash and cash equivalents of $44 million compared with $45.9 million at the end of the prior quarter. Long-term debt was $1.7 billion, flat with the prior quarter’s level.
SRCL generated $61.5 million of net cash from operating activities, while capex was $36 million in the September quarter. Free cash flow came in at $25.5 million in the reported quarter. Currently, Stericycle carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Omnicom Group Inc. (OMC - Free Report) reported impressive third-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Earnings of $1.77 per share beat the consensus mark by 7.9% and increased 7.3% year over year, driven by a solid margin performance. Total revenues of $3.4 billion surpassed the consensus estimate by 3% and increased slightly year over year.
Equifax Inc. (EFX - Free Report) reported stellar third-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Adjusted earnings (excluding 39 cents from non-recurring items) of $1.73 per share beat the Zacks Consensus Estimate by 5.5% but decreased 6.5% on a year-over-year basis. However, revenues of $1.24 billion beat the consensus estimate by 2.3% and improved 1.8% year over year on a reported basis and 4% on a local-currency basis.
The Interpublic Group of Companies, Inc. (IPG - Free Report) reported better-than-expected third-quarter 2022 results.
Adjusted earnings (excluding a penny from non-recurring items) of 63 cents per share beat the Zacks Consensus Estimate by 6.8%. The bottom line has been unchanged over the past year. Net revenues of $2.3 billion beat the consensus estimate by 0.3% but declined 9.7% on a year-over-year basis. Total revenues of $2.64 billion increased 3.8% year over year.
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Stericycle, Inc. (SRCL - Free Report) reported impressive third-quarter 2022 results, wherein both earnings and revenues beat the Zacks Consensus Estimate.
Better-than-expected results impressed investors as the stock has risen 6.6% since the earnings release on Nov 3.
Quarterly EPS (excluding 35 cents from non-recurring items) of 65 cents beat the Zacks Consensus Estimate by 10.2% and increased 47.7% year over year. Revenues of $690.3 million also beat the consensus mark by 3% and moved up 6.4% year over year. Organic revenues increased 10.9% year over year.
Revenues by Service
Regulated Waste and Compliance Services revenues decreased 3% year over year on a reported basis but increased 2.2% on an organic basis to $447.8 million. Secure Information Destruction revenues increased 29.5% year over year on a reported basis and 32.3% organically to $242.5 million.
Revenues by Geography
Revenues from North America were $584.8 million, up 11.6% year over year on a reported basis and 13.2% organically. International revenues of $105.5 million declined 15.6% year over year but inched up 1.3% organically.
Profitability Performance
Adjusted gross profit in the quarter amounted to $266.2 million, up 11.1% from the year-ago quarter’s levels. Adjusted gross profit margin was 38.6%, up from 36.9% in the prior-year quarter.
Adjusted EBITDA was $119.3 million, up 19.4% from the year-ago quarter’s figure. Adjusted EBITDA margin was 17.3%, up from 15.3% in the prior-year quarter.
Balance Sheet & Cash Flow
Stericycle exited the quarter with cash and cash equivalents of $44 million compared with $45.9 million at the end of the prior quarter. Long-term debt was $1.7 billion, flat with the prior quarter’s level.
SRCL generated $61.5 million of net cash from operating activities, while capex was $36 million in the September quarter. Free cash flow came in at $25.5 million in the reported quarter. Currently, Stericycle carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Omnicom Group Inc. (OMC - Free Report) reported impressive third-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Earnings of $1.77 per share beat the consensus mark by 7.9% and increased 7.3% year over year, driven by a solid margin performance. Total revenues of $3.4 billion surpassed the consensus estimate by 3% and increased slightly year over year.
Equifax Inc. (EFX - Free Report) reported stellar third-quarter 2022 results, wherein both earnings and revenues surpassed the respective Zacks Consensus Estimate.
Adjusted earnings (excluding 39 cents from non-recurring items) of $1.73 per share beat the Zacks Consensus Estimate by 5.5% but decreased 6.5% on a year-over-year basis. However, revenues of $1.24 billion beat the consensus estimate by 2.3% and improved 1.8% year over year on a reported basis and 4% on a local-currency basis.
The Interpublic Group of Companies, Inc. (IPG - Free Report) reported better-than-expected third-quarter 2022 results.
Adjusted earnings (excluding a penny from non-recurring items) of 63 cents per share beat the Zacks Consensus Estimate by 6.8%. The bottom line has been unchanged over the past year. Net revenues of $2.3 billion beat the consensus estimate by 0.3% but declined 9.7% on a year-over-year basis. Total revenues of $2.64 billion increased 3.8% year over year.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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