US Ecology, Inc. (NASDAQ:ECOL) Q1 2018 Earnings Conference Call Transcript

May 04, 2018 • 10:00 am ET

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US Ecology, Inc. (NASDAQ:ECOL) Q1 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning and welcome to the US Ecology First Quarter 2018 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note today's event is being recorded.

I would now like to turn the conference over to Eric Gerratt, Executive Vice President and Chief Financial Officer. Please go ahead, sir.

Executive
Eric Gerratt

Good morning, and thank you for joining us today. Joining me on the call this morning are Chairman and Chief Executive Officer, Jeff Feeler; Executive Vice President of Sales and Marketing, Steve Welling; and Executive Vice President and Chief Operating Officer, Simon Bell.

Before we begin, please note that certain statements contained in this conference call that do not describe historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Since forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such statements. Factors that could cause results to differ materially from those expressed include but are not limited to those discussed in the Company's filings with the Securities and Exchange Commission.

Management cannot control or predict many factors that determine future results. Listeners should not place undue reliance on forward-looking statements, which reflect management's views only on the date such statements are made. We undertake no obligation to revise or update any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

For those joining by webcast, you can follow along with today's presentation. For those listening by phone, you can access today's presentation on our website at www.usecology.com. Throughout yesterday's earnings release and our call and presentation today, we refer to adjusted EBITDA, pro forma adjusted EBITDA and adjusted earnings per share. These metrics are not determined in accordance with Generally Accepted Accounting Principles and are, therefore, susceptible to varying calculations. A definition, calculation and reconciliation to the financial statements of adjusted earnings per share, adjusted EBITDA and pro forma adjusted EBITDA can be found in Exhibit A of our earnings release. We believe these non-GAAP metrics are useful in evaluating our reported results and our 2018 guidance.

With that, I'd like to turn the call over to Jeff.

Executive
Jeffrey R. Feeler

Thank you, Eric, and good morning, everybody. I'll start this morning's call with a few summary comments on our first quarter results released yesterday before turning it back over to Eric for additional details on our financials. I'll then close out the call with an update on our 2018 business outlook before opening up the call to questions. For those that are following the webcast presentation, please direct your attention to slide 5.

Yesterday, we reported solid first quarter 2018 financial results that were in line with our own expectations. Revenues were up about 9% to $120.1 million and adjusted EBITDA was $24.5 million, up 4% over the same quarter last year. Our adjusted earnings per share was $0.36 per share,