Stericycle: Rises as Q3 profit tops estimates

Stericycle

05/11/2020 20:06

** Shares of medical waste management company  SRCL.O  jump
12% to $75 in afternoon trade
    ** Co posts Q3 adjusted earnings of 68 cents/share, beating
analysts' avg. estimate of 56 cents/share - Refinitiv IBES data
    ** Q3 rev. declines 23.6% to $636.4 mln, compared with
consensus view of $642.9 mln  urn:newsml:reuters.com:*:nGNX9dHk4t
    ** Co attributes rev. drop to the impact of multiple
divestitures and the COVID-19 pandemic
    ** Says net debt reduced by ~$135.5 mln in Q3, bringing
total net debt to its lowest in five years
    ** Stock up 17% so far this year

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com;))