stericycle inc (SRCL) Key Developments
Stericycle, Inc. Enters into a Settlement Agreement to Resolve All Claims Against the Company
May 21 15
On May 20, 2015, Stericycle, Inc. entered into a settlement agreement to resolve all claims made against the company and certain of subsidiaries in Sawyer v. Stericycle, et al., Case No. 2015 CH 07190, a class action complaint pending in the Circuit Court of Cook County, Illinois. The TCPA Action is the successor lawsuit to the class action complaint filed in the U.S. District Court for the Northern District of Illinois (Case 1:14-cv-02070) that the company have previously disclosed and that was dismissed pursuant to the parties' joint stipulation of dismissal. The TCPA Action alleges that from 2010 to 2014 the company violated the Telephone Consumer Protection Act of 1991, as amended by the Junk Fax Prevention Act of 2005, by sending facsimile advertisements to plaintiffs or putative class members that either were unsolicited and/or did not contain a valid opt-out notice. The company have denied all liability for the claims made in the TCPA Action but have agreed to settle to avoid the expense, burden and inherent risk and uncertainty of litigation. Under the terms of the settlement agreement entered into with the two class representatives, the company agreed to make available a fund of $45.0 million to pay class members who submit a valid claim form within a 90-day period, to pay an incentive award to each of the class representatives, to pay attorneys' fees and expenses to plaintiffs' attorneys, and to pay fees and costs of a third-party settlement administrator. The plaintiffs' attorneys are seeking attorneys' fees of one-third of the Settlement Fund, plus out-of-pocket expenses, to be paid from the Settlement Fund.
Stericycle, Inc. Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015
Apr 23 15
Stericycle, Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of $663,319,000 compared to $569,955,000 a year ago. Income from operations was $127,053,000 against $132,659,000 a year ago. Income before income taxes was $107,857,000 against $117,061,000 a year ago. Net income attributable to company was $75,458,000 against $79,149,000 a year ago. Earnings per diluted share were $0.87 against $0.91 a year ago. Net cash provided by operating activities was $132,554,000 against $145,849,000 year ago. Capital expenditures were $21,356,000 against $16,420,000 a year ago. Non-GAAP earnings per diluted share, when adjusted for various items identified, increased 3.7% to $1.08 from $1.04.
For 2015, the company EPS estimates will be in the range of $4.64 to $4.69. The revenue estimates for 2015 will be in the range of $2.81 billion to $2.86 billion depending on assumptions for growth and negative impact from foreign exchange rates. The company anticipates 2015 internal growth rates to be: SQ, 8% to 10%; LQ, 5% to 8%; international, 6% to 9%; and recall and returns revenues between $95 million to $120 million. The company will have estimates for 2015 free cash flow between $445 million to $456 million. 2015 CapEx is anticipated to be between $96 million to $100 million. The company expects the full year as-reported tax rate to be in the range of 34.5% to 35%.
Stericycle Seeks Acquisitions
Apr 23 15
Dan Ginnetti Chief Financial Officer Stericycle, Inc. (NasdaqGS:SRCL) said, "We certainly aren't going to spend money just for the sake of spending money. We continue to be very disciplined around our acquisitions. We have a very robust pipeline. And I wouldn't look at these from a quarter to quarter basis. Really, you've got to look at the acquisitions that we do more on an annual basis. These things tend to come in surges. So we're good in the range there, and we feel very good about both our acquisition and our capital structure."
Stericycle, Inc. Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:40 AM
Apr 15 15
Stericycle, Inc. Presents at Bank of America Merrill Lynch 2015 Health Care Conference, May-12-2015 08:40 AM. Venue: Encore at the Wynn, 3131 S Las Vegas Blvd, Las Vegas, Nevada, United States.
Stericycle, Inc. Presents at Oppenheimer 10th Annual Industrial Growth Conference, May-12-2015 08:15 AM
Apr 15 15
Stericycle, Inc. Presents at Oppenheimer 10th Annual Industrial Growth Conference, May-12-2015 08:15 AM. Venue: Westin New York Grand Central, 212 East 42nd Street, New York, NY 10017, United States.