Stericycle Inc. Earnings: Revenue Strengthens Again by Double-Digits
S&P 500 (NYSE:SPY) component Stericycle Inc. (NASDAQ:SRCL) reported its results for the fourth quarter. Stericycle manages regulated waste and provides related services. It operates in the United States, Canada, Argentina, Chile, Mexico, Ireland, Portugal, Romania and the United Kingdom.
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Stericycle Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Stericycle Inc. rose to $64.3 million (74 cents per share) vs. $50 million (57 cents per share) in the same quarter a year earlier. This marks a rise of 28.6% from the year earlier quarter.
Revenue: Rose 13.5% to $446.6 million from the year earlier quarter.
Actual vs. Wall St. Expectations: Stericycle Inc. reported adjusted net income of 76 cents per share. By that measure, the company beat the mean estimate of 74 cents per share. Analysts were expecting revenue of $443 million.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 18.4%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 25.5% from the year earlier quarter.
The company has now seen net income rise in three straight quarters. In the third quarter, net income rose 4.5% and in the second quarter, the figure rose 4.6%.
The company has now beaten estimates the last two quarters. In the third quarter, it topped expectations with net income of 71 cents versus a mean estimate of net income of 70 cents per share.
Looking Forward: The average estimate for the first quarter of the next fiscal year remains unchanged at 77 cents a share. For the fiscal year, the average estimate has been unchanged at $2.82 a share.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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