Stericycle Poised to Report Q1 2024 Earnings Amid Positive Analyst Revisions

Stericycle, a leading medical waste management company, reports mixed Q1 2024 earnings, with revenue decline but improved adjusted earnings. CEO remains optimistic about full-year guidance and long-term outlook.

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Nitish Verma
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Stericycle Poised to Report Q1 2024 Earnings Amid Positive Analyst Revisions

Stericycle Poised to Report Q1 2024 Earnings Amid Positive Analyst Revisions

Stericycle, a leading medical waste management company, is set to release its first-quarter 2024 earnings report on April 25th. Analysts have projected consensus estimates of $0.56 earnings per share (EPS) and $678.17 million in revenue for the quarter, with mostly positive revisions leading up to the announcement.

In its previous Q1 2023 earnings report, Stericycle posted a profit of $13.1 million, or $0.14 per share. Adjusted earnings, excluding non-recurring costs, were $0.57 per share, exceeding Wall Street expectations of $0.54 per share. However, the company's revenue of $664.9 million in Q1 2023 missed the Street forecast of $675.8 million.

For Q1 2024, Stericycle reported revenues of $664.9 million, a decrease of 2.8% compared to Q1 2023. Income from operations was $38.9 million, compared to $40.0 million in Q1 2023. Adjusted income from operations was $90.5 million, compared to $84.7 million in Q1 2023. Adjusted diluted earnings per share was $0.57, compared to $0.49 in Q1 2023.

Cash from operations was an outflow of $54.5 million, compared to an inflow of $49.5 million in Q1 2023. Free cash flow was an outflow of $97.6 million, compared to an inflow of $13.1 million in Q1 2023.

Why this matters: Stericycle's Q1 2024 earnings report provides insights into the financial health and performance of a major player in the medical waste management industry. The company's results have implications for healthcare facilities, environmental sustainability, and public health, as proper medical waste disposal is critical for preventing the spread of infections and protecting the environment.

Despite the mixed results, Stericycle's CEO, Cindy J. Miller, expressed optimism, stating, "We are pleased with our first-quarter results and remain on track to achieve our full-year 2024 guidance and long-term outlook." The company's ability to navigate challenges and maintain its market position will be closely watched by investors and industry stakeholders.

Key Takeaways

  • Stericycle to report Q1 2024 earnings on April 25th, analysts expect $0.56 EPS, $678.17M revenue.
  • Q1 2023 earnings: $0.57 adjusted EPS, exceeding expectations, but revenue missed at $664.9M.
  • Q1 2024 results: $664.9M revenue (-2.8% YoY), $90.5M adjusted operating income (+6.9% YoY), $0.57 adjusted EPS.
  • Cash flow: $54.5M outflow from operations, $97.6M outflow in free cash flow.
  • CEO optimistic about achieving full-year 2024 guidance and long-term outlook despite mixed results.