Stericycle, Inc. Reports Results For The First Quarter 2024
BANNOCKBURN, Ill., April 25, 2024 (GLOBE NEWSWIRE) — Stericycle, Inc. (Nasdaq:SRCL) today reported results for the first quarter ended March 31, 2024.
Revenues for the first quarter were $664.9 million, a decrease of 2.8% compared to $684.3 million in the first quarter of 2023. Income from operations was $38.9 million compared to $40.0 million in the first quarter of 2023. Net income was $13.1 million, or $0.14 diluted earnings per share, compared to $11.2 million, or $0.12 in the first quarter of 2023. Adjusted income from operations1 was $90.5 million, compared to $84.7 million in the first quarter of 2023. Adjusted diluted earnings per share1 was $0.57 compared to $0.49 in the first quarter of 2023. Cash from operations for the three months ended March 31, 2024 was an outflow of $54.5 million compared to an inflow of $49.5 million in the same period of 2023. Free cash flow2 was an outflow of $97.6 million for the three months ended March 31, 2024, compared to an inflow of $13.1 million in the same period of 2023.