- Stericycle Inc (NASDAQ:SRCL) reported second-quarter revenue growth of 1.1% year-over-year to $679.8 million, +5% on an organic basis, beating the consensus of $677.14 million.
- The gross margin declined by 168 bps to 38.3%. The operating income declined 31.5% Y/Y to $38.1 million, and the margin contracted by 266 bps to 5.6%.
- The adjusted operating margin was 12.1%, down from 15.7% in 2Q21.
- Adjusted EPS was $0.48, above the consensus of $0.47.
- Adjusted EBITDA decreased by 16.4% Y/Y to $109 million, and margin contracted by 335 bps to 16%.
- Stericycle’s net cash used in operating activities year-to-date was $(18.4) million, compared to cash provided of $149.8 million a year ago. Free cash outflow of $(88.4) million.
- The company held cash and cash equivalents of $45.9 million as of June 30, 2022.
- Price Action: SRCL shares traded higher by 7.05% at $50.58 on the last check Friday.
With FDA Decision Date Approaching, Analyst Downgrades Sarepta On Balanced Risk And Reward
RBC Capital Markets downgrades Sarepta Therapeutics following increased FDA label expansion expectations for Elevidys and recent stock surge.
