U.S. Ecology (ECOL) Misses Q4 EPS by 7c

U.S. Ecology (NASDAQ: ECOL) reported Q4 EPS of $0.36, $0.07 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $117.2 million versus the consensus estimate of $119.67 million.

"We saw another quarter of sluggishness in the industrial sector, including lower spending and continued project deferment, which resulted in Pro Forma adjusted EBITDA for 2016 at the low end of our guidance range," commented Jeff Feeler, Chairman and Chief Executive Officer. "Winter weather conditions, which affected shipping and production schedules, combined with lower December industrial waste volumes contributed to a 4% decline in Base Business in our Environmental Services segment in the fourth quarter compared to the fourth quarter of 2015. Our Environmental Services segment Event Business was down 17% during the quarter as compared to the same quarter last year due to prior year project completions that were not fully replaced and continued project delays. Our Field and Industrial Services segment also delivered lower than anticipated results on the softer market conditions as we closed out the year. The recent uptick in the industrial sector seen so far in the first quarter, however, while not yet resulting in improved volumes, bodes well for our 2017 business outlook given the tendency of the hazardous waste industry to lag industrial cycles."

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