U.S. Ecology (ECOL) Tops Q1 EPS by 7c, Revenues Beat; Offers FY21 EPS/Revenue Guidance

U.S. Ecology (NASDAQ: ECOL) reported Q1 EPS of ($0.03), $0.07 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $228.6 million versus the consensus estimate of $224.89 million.

FIRST QUARTER HIGHLIGHTS COMPARED TO PRIOR YEAR:

• Revenue of $228.6 million, down 5%
• Field Services revenue grew 4%
• Waste Solutions Base Business revenue declined 3%; Event Business revenue declined 9%
• Net loss of $796,000, or $0.03 per diluted share
• Adjusted loss per diluted share of $0.07
• Adjusted EBITDA of $33.2 million
• Adjusted free cash flow of $13.7 million

“The solid momentum that began to build toward the end of 2020 has continued into the first quarter of 2021, led by our field services business which generated 4% organic revenue growth over the first quarter last year,” commented Chairman and Chief Executive Officer, Jeff Feeler. “On a consolidated basis, performance was slightly better than our expectations, with our team demonstrating strong execution in servicing our customers, delivering solid financial results, and generating strong free cash flow during the quarter. All of this was accomplished while navigating the ongoing pandemic, supply chain disruptions and extreme weather events. We continue to see benefits through the execution of our strategy amid signs of recovery across our service lines. We expect this positive momentum to continue, and we anticipate sequential improvement as we move into the seasonally stronger second and third quarters, putting us on track to achieve our full-year 2021 guidance.”

GUIDANCE:

U.S. Ecology sees FY2021 EPS of $0.65-$0.88, versus the consensus of $0.80. U.S. Ecology sees FY2021 revenue of $940-990 million, versus the consensus of $972.29 million.

For earnings history and earnings-related data on U.S. Ecology (ECOL) click here.

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