Stericycle Inc - SRCL STOCK NEWS

Stericycle (Nasdaq: SRCL) reported strong third-quarter results for 2022, with revenues of $690.3 million, up 6.4% year-over-year. Organic revenue grew 10.9%, driven by a 32.3% increase in Secure Information Destruction services. Net income reached $28.0 million, or $0.30 diluted earnings per share, marking a significant turnaround from a loss in the previous year. Despite improvements in adjusted income and cash flow from operations, free cash flow saw an outflow of $62.9 million, reflecting the impact of settlement payments and increased capital expenditures. Adjusted diluted EPS rose to $0.65, showing robust operational momentum.

Stericycle (Nasdaq: SRCL) announced its partnership with the National Park Foundation to restore shorelines at Timucuan Ecological and Historic Preserve in Florida and Cumberland Island National Seashore in Georgia. The five-year, $1 million initiative includes implementing a pervious oyster shell habitat to enhance coastal resilience against climate change. This project aims to protect wildlife habitats and improve water quality, contributing to environmental sustainability.

Stericycle (Nasdaq: SRCL) announced that Janet Zelenka, CFO and CIO, received the prestigious 2022 CIO+ Award from The Executives' Club of Chicago, SIM Chicago, and AITP Chicago. The award honors CIOs who expand their roles within organizations, promoting broader business success. Zelenka joined Stericycle in 2019, showcasing leadership in integrating finance and IT. Under her guidance, Stericycle has enhanced efficiency through ERP system implementation. Zelenka's recognition reflects her team's contributions to advancing the company’s key priorities.

Stericycle (Nasdaq: SRCL) has published its 2022 Corporate Social Responsibility (CSR) report, highlighting progress in Environmental, Social, and Governance (ESG) initiatives. The company treated 1.5 billion pounds of medical waste, diverted 104 million pounds of plastic, and partnered with the National Park Foundation for conservation efforts. Key improvements include enhanced corporate governance, operational safety, and diversity initiatives, demonstrating Stericycle's commitment to responsible business practices and community engagement. CEO Cindy J. Miller emphasized ongoing efforts towards sustainability and transparency.

Stericycle (Nasdaq: SRCL) will have CEO Cindy J. Miller and CFO Janet Zelenka present at the Baird 2022 Global Industrial Conference in Chicago on November 8, 2022. They will also engage in investor meetings throughout the day. Stericycle is a leading provider of compliance-based solutions, serving customers in the U.S. and 16 other countries with services like regulated waste management and secure information destruction.

Shred-it, a service of Stericycle (SRCL), released its 12th annual Data Protection Report on August 23, 2022, highlighting the increasing challenges small businesses face in safeguarding data. With data breaches at an all-time high and an average breach cost exceeding $4 million, 90% of small business leaders report difficulty in maintaining data security. Key threats include remote work, employee turnover, and regulatory complexities. The report emphasizes the need for enhanced education and support for small businesses in navigating data protection laws.

Stericycle, Inc. (Nasdaq: SRCL) reported Q2 2022 earnings with revenues of $679.8 million, up 1.1% from Q2 2021. Organic revenue rose 5.0%, driven by 12.2% growth in Secure Information Destruction. Income from operations decreased to $38.1 million from $55.6 million in 2021, mainly due to rising supply chain and labor costs. Net income was $10.5 million ($0.11 per share) compared to $29.3 million ($0.32 per share) a year prior. Cash flow from operations was a negative $18.4 million due to FCPA settlement payments, highlighting pressures on profitability.