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Stericycle, Inc. (Nasdaq: SRCL) reported a strong first quarter of 2023, with revenues reaching $684.3 million, a 3.0% increase from $664.2 million in Q1 2022. Organic revenue growth was notable at 7.2%. Income from operations surged to $40.0 million compared to $5.9 million a year ago, while net income stood at $11.2 million, or $0.12 per diluted share, an improvement from a net loss of $14.2 million in Q1 2022. Adjusted diluted earnings per share rose to $0.49, up from $0.32. Cash flow from operations showed a strong inflow of $49.5 million, reversing a $38.8 million outflow in the previous year. The firm improved its debt leverage ratio to 3.05X and divested its Brazil operations for approximately $28 million. These results align with the company's 2023 guidance.
Stericycle (NASDAQ: SRCL) is actively supporting National Prescription Drug Takeback Day on April 22, 2023, emphasizing the importance of responsible medication disposal to combat opioid misuse. The U.S. Drug Enforcement Administration (DEA) sponsors this initiative, addressing a national health crisis where over 14 million Americans misused prescription drugs in a year, with opioid misuse affecting 9 million individuals.
Research from Stericycle's 2022 Healthcare Workplace Safety Trend Report indicates that many healthcare providers view improper pharmaceutical waste disposal as a significant factor in the opioid epidemic. Stericycle offers two solutions for consumers: Consumer Medication Mail Back Envelopes and Medication Collection Kiosks, both aiming to prevent environmental contamination and unauthorized access to medications.
Stericycle, Inc. (Nasdaq: SRCL) announced participation in virtual investor meetings at the Gabelli Funds 9th Annual Waste & Environmental Services Symposium on May 11, 2023. CEO Cindy J. Miller and CFO Janet Zelenka will represent the company, which is a leading provider of compliance-based solutions for waste management and secure information destruction. Stericycle serves clients across the U.S. and in 16 other countries, emphasizing health, safety, and environmental protection. For more details, visit stericycle.com.
Stericycle (Nasdaq: SRCL) will present at Oppenheimer's virtual 18th Annual Industrial Growth Conference on May 8, 2023. CEO Cindy J. Miller and CFO Janet Zelenka will discuss the company's compliance-based solutions and engage with investors throughout the day. Stericycle is a leader in providing solutions for regulated waste, secure information destruction, and environmental safety, serving customers across the U.S. and 16 other countries. For additional details, visit stericycle.com.