Stericycle Q2 Earnings Miss Estimates; Stock Down In Pre-market

(RTTNews) - Stericycle, Inc. (SRCL), a provider of regulated waste management and related services, Thursday rported a net loss of $49.5 million, or $0.54 per share for the second quarter, compared with net income of $10.5 million, or $0.11 per share in the comparable quarter last year, primarily due to lower revenue impacted by divestiture.

Excluding one-time items, the company reported earnings of $0.43 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $0.49 per share. Analysts' estimates typically exclude special items.

Revenues for the second quarter were $669.5 million, a decrease of 1.5% from $679.8 million last year. The consensus estimate was for $683.48 million.

For the full year, the company has reaffirmed its outlook.

Stericycle shares were down more than 7% in pre-market trading. It closed at $45.94, down 1.52% on Wednesday. The stock has been trading in the range of $39.63 - $56.12 in the last 1 year.