US Ecology Beats Big on Bottom Line
Hazardous waste management specialist US Ecology is cleaning up as strong results in its treatment and disposal business sees increased demand. The company reported third-quarter results, showing that it posted total revenue of $53.1 million, a robust 16% gain from the $45.7 million in the same period the previous year and well ahead of the $48.9 million Capital IQ consensus estimates.
Net income was $10.3 million, or $0.53 per share, excluding up from $8.7 million, or $0.44 per share, in Q3 2012, and $0.07 per share better than the CapIQ estimate of $0.46.
Much of the growth is attributable to increases in treatment and disposal revenues, which increased 10% sequentially, and transportation revenues that were up 48% quarter over quarter.
US Ecology believes its healthy pipeline of business that runs into 2014, along with a solid fourth-quarter outlook, will have it generating full year earnings this year that range from $1.68 to $1.73 per share, up from its previous range of $1.45 to $1.55 per share.
US Ecology's stock closed the day down 1.6%, or $0.52, to $32.79.
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