US Ecology Announces Q1 results
US Ecology Inc., Boise, Idaho, has reported a total revenue of $240.7 million and a net loss of $298.1 million, or $9.52 per share, in the first quarter of 2020. Gross profit for the quarter was $61.1 million, up 73 per- cent from $35.2 million in the same quarter last year. Spe- cifically, gross profit for the environmental services segment was $44.1 million and included $4.7 million from NRC, up from $31.6 million in the first quarter of 2019. Other highlights of US Ecology’s first quarter include: • Organic revenue growth of 18 percent on legacy US Ecology business • Field and industrial services revenue up 14 percent, ex- cluding NRC, with margin expansion • Net loss of $298.1 million, or $9.52 per diluted share including impairment charge • Adjusted earnings per diluted share of 12 cents •Adjusted EBITDA of $43.2 million, up 82 percent including organic growth of 31 percent in legacy US Ecology business • NRC contributed adjusted EBITDA of approximately $12.2 million In addition, the company recognized a $283.6 million goodwill impairment charge on its Energy Waste Disposal Services business operating within the environmental ser- vices segment. US Ecology also recognized a $16.7 million goodwill impairment charge in its international business within the field and industrial services segment.
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