US Ecology, Inc. (NASDAQ:ECOL) Q1 2018 Earnings Conference Call Transcript
May 04, 2018 • 10:00 am ET
We also invested $7.6 million in capital projects and paid out $3.9 million in dividends to our stockholders. Our balance sheet continues to improve with net borrowings of $232.7 million at March 31st, 2018. Additionally, we recently reached a milestone on our multiyear upgrade to our information systems. In April, we launched our new financial system, Microsoft AX. This is an exciting milestone and the first step in our multiyear systems investment. The next phase of our -- phase of our systems transformation will be focused on our new production system, which will commence rolling out in phases in late 2019.
With that, I'll turn the call back to Jeff.
Jeffrey R. Feeler
Thank you, Eric. As we look to the balance of 2018, we remain confident in our ability to deliver growth over 2017 results. We continue to see positive trends in the industrial sector that should benefit our various business lines. We continue to expect our Base Business to grow 3% to 5% for the full year. In addition, our Event Business pipeline remains strong, and we have already seen improved activity in regions that were soft last year, leading to our expectations for single-digit growth in our Event Business for 2018.
Field Services should continue to show strong grow -- strong revenue growth, driven by our small quantity generation services as well as our total waste management services. We expect our Industrial Services businesses to begin seeing improvement in the second quarter, continuing throughout 2018.
Turning to slide 12. Taking into account our first quarter results and current conditions, we are reaffirming our guidance issued this past February. We still expect our adjusted EBITDA will range from $122 million to $128 million for 2018. We are also reaffirming our adjusted earnings per share guidance of $2.15 to $2.34 per share. As well, our capital expenditures are on track, and we still expect them to range between $39 million to $42 million.
Finally, we still anticipate normal seasonality in our business, with sequential improvement in revenues and EBITDA from the first quarter through the third quarter of this year, with the third quarter likely being the strongest of the year.
With that, operator, would you please open up the call for questions and comments?