US Ecology (NASDAQ-GS: ECOL) has announced a shift to a virtual-only format for its Annual Meeting of Stockholders, scheduled for June 3, 2020, at 8:00 a.m. Mountain Daylight Time. This change is made to ensure the safety of employees and stockholders amid the COVID-19 pandemic. Stockholders as of April 6, 2020, are entitled to participate. Voting can still occur through previously distributed proxy cards, which do not require updating for the location change. Access to the meeting requires a 16-digit control number, although guests can attend without the ability to vote or ask questions.
US Ecology reported first-quarter revenue of $240.7 million, a substantial 84% increase year-over-year, driven by strong performance in the Event business which grew 102%. The company faced a net loss of $298.1 million due to a $300.3 million goodwill impairment related to its energy sector. Adjusted earnings per diluted share were $0.12, down from $0.22 a year ago. Despite challenges, legacy operations showed organic growth of 18%. The company also suspended its quarterly dividend to preserve cashflow amid the ongoing pandemic.