Stericycle Reports Q3 2024 Financial Results

Stericycle ( (SRCL) ) has released its Q3 earnings. Here is a breakdown of the information Stericycle presented to its investors.

Stericycle, Inc. is a global provider of regulated waste management and compliance services, primarily operating in the healthcare and industrial sectors, with a unique focus on secure information destruction and recycling. In its latest quarterly earnings report for the period ending September 30, 2024, Stericycle reported revenues of $648.4 million, slightly down from $653.5 million in the same period last year. The company experienced a net loss attributable to common shareholders of $13.8 million, compared to a net income of $2 million in the third quarter of 2023. Key financial highlights include a decline in income from operations to $9 million from $24.2 million year-over-year and a net loss before income taxes of $11.4 million. The report also noted an impairment charge of $10.5 million related to assets held for sale, contributing to divestiture losses. Despite these challenges, the company maintained an operating cash flow of $56.4 million for the nine-month period. Looking ahead, Stericycle remains focused on optimizing its portfolio and enhancing operational efficiencies, while navigating the regulatory landscape and strategic divestitures. Management continues to emphasize its commitment to improving profitability and maintaining compliance across its global operations.