Hazardous waste management specialist US Ecology (ECOL) is cleaning up as strong results in its treatment and disposal business sees increased demand. The company reported third-quarter results, showing that it posted total revenue of $53.1 million, a robust 16% gain from the $45.7 million in the same period the previous year and well ahead of the $48.9 million Capital IQ consensus estimates.
Net income was $10.3 million, or $0.53 per share, excluding up from $8.7 million, or $0.44 per share, in Q3 2012, and $0.07 per share better than the CapIQ estimate of $0.46.
Much of the growth is attributable to increases in treatment and disposal revenues, which increased 10% sequentially, and transportation revenues that were up 48% quarter over quarter.
US Ecology believes its healthy pipeline of business that runs into 2014, along with a solid fourth-quarter outlook, will have it generating full year earnings this year that range from $1.68 to $1.73 per share, up from its previous range of $1.45 to $1.55 per share.
US Ecology's stock closed the day down 1.6%, or $0.52, to $32.79.
