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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 (SRCL) Stock Rises 6.6% Since Q3 Earnings Beat
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.
Stericycle, Inc. Price, Consensus and EPS Surprise
Stericycle, Inc. price-consensus-eps-surprise-chart | Stericycle, Inc. Quote
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.