Medical Waste Firm Stericycle Posts Earnings, Revenue Increases

Medical waste firm Stericycle Inc. posted higher net profits and revenue for its third quarter, aided by acquisition revenue.

The Lake Forest, Ill.-based Stericycle said for the period ended Sept. 30 net income climbed 2.9 percent to $82.8 million, or 96 cents per diluted share, compared with $80.5 million, or 92 cents per diluted share, in the 2013 period.

Revenue rose 24.9 percent to $667.9 million from $534.6 million a year earlier, according to a news release. Acquisitions in the latest period accounted for $93.8 million of the growth.

For the first nine months, net earnings advanced 4.6 percent to $243.9 million, or $2.83 per diluted share, compared with $233.2 million, or $2.67 per diluted share, a year earlier. Revenue increased 19.3 percent to $1.88 billion from $1.57 billion in 2013.