Stericycle Inc - SRCL STOCK NEWS

Stericycle reported Q4 2022 revenues of $670.4 million, up 2.0% from $657.3 million in Q4 2021, driven by a 5.7% increase in organic revenues. Net income reached $31.8 million, or $0.35 per share, reversing a net loss of $17.2 million in the previous year. Adjusted income from operations rose to $90.6 million, compared to $64.2 million in Q4 2021. However, cash flow from operations decreased to $200.2 million from $303.1 million in 2021. Free cash flow also declined to $68.0 million from $186.2 million. The company reduced its debt leverage ratio to 3.28X.

On February 3, 2023, Stericycle (Nasdaq: SRCL) announced its participation in the J.P. Morgan Global High Yield & Leveraged Finance Conference. The event will feature investor meetings hosted by Ritu Narula, VP of Treasury and Accounts Payable, and Andrew Ellis, VP of Investor Relations and Enterprise Finance, on March 7, 2023. Stericycle is a leading provider of compliance-based solutions, serving customers in the U.S. and 16 other countries. The company focuses on regulated waste, compliance services, and secure information destruction, promoting health and safeguarding the environment.

Stericycle (Nasdaq: SRCL) announced the appointment of Naren K. Gursahaney to its Board of Directors, effective January 1, 2023. Gursahaney brings extensive experience in operations, financial planning, and strategic oversight from his previous roles, including Chairman of Terminix and Interim CEO of ServiceMaster. The board now consists of 10 members, reflecting Stericycle's commitment to diversity and board refreshment, with an average tenure of 4.6 years among members.

Stericycle (Nasdaq: SRCL) has received the 2022 Product of the Year award from the Business Intelligence Group for its SafeShield™ Medical Waste Container. This award highlights the company's efforts in regulated medical waste management. The SafeShield™ containers, made with 15% recyclable content, feature a copper-based antimicrobial additive to prevent microorganism growth. Stericycle has distributed over 250,000 such containers across the U.S. in the past two years. This recognition marks the third time Stericycle has been honored by BIG, previously recognized for its COVID-19 waste management and sustainability efforts.

Carenet Health has acquired Stericycle Communication Solutions, enhancing its capabilities in patient engagement technology. The deal aims to improve healthcare access and outcomes amidst staffing challenges. Carenet's offerings now include an advanced scheduling solution, integrated electronic health records, and AI-driven platforms. This acquisition positions Carenet as a leading healthcare consumer engagement company, serving 1 in 3 Americans and collaborating with 14 of the top 20 health systems in the U.S.

Stericycle (Nasdaq: SRCL) has divested its Communication Solutions business to Carenet Health for approximately $45 million in cash. The transaction is part of Stericycle's strategy to optimize its portfolio, marking their eleventh divestiture since 2019. The Communication Solutions division generated revenues of $45 million for the first nine months of 2022 and employs about 500 team members. Proceeds from the sale will be used to reduce outstanding debt, aligning with the company's focus on core operations and improving efficiency.

Stericycle (Nasdaq: SRCL) announced that its president and CEO, Cindy J. Miller, has been named one of WomenInc. Magazine's 2022 Most Influential Women Executives in Corporate America. This accolade highlights her leadership in regulated medical waste management, information destruction, and patient engagement. Miller, the first female CEO in Stericycle's history, has over 30 years of experience and has transformed the company's culture with a focus on safety. Stericycle has also been recognized for gender balance and diversity in leadership.

Stericycle (Nasdaq: SRCL) will have its CEO, Cindy J. Miller, and CFO, Janet Zelenka, present at the Oppenheimer Midwest Industrial Virtual Summit on December 15, 2022. This event will involve investor meetings aimed at discussing the company's compliance-based solutions that safeguard health and the environment. Stericycle provides services in regulated waste management, secure information destruction, and patient engagement across the U.S. and 16 other countries.