Date: March 1, 2009
Source: News Room
This weekend's Barron's featured a story hailing Stericycle (SRCL) and its successful medical-waste business. The article points out that the company has met or beaten analysts' quarterly operating profit estimates for more than 40 consecutive quarters and continues to make gains despite the economic downturn. Barron's predicts that acquisitions and high-margin add-on services will fuel continued strong performance. The CFO told Barron's, "We aren't seeing any impact" from the economic slowdown. A likely reason for that is that 95% of Stericyle's revenue comes from long-term contracts, with automatic renewals. Stericycle has bought 157 companies since 1993 and has a pipeline of more than $50 million in domestic deals. It currently operates a network of 78 waste-treatment and collection sites serving 418,000 customers and commands a dominant 11% share of the $10 billion global medical-waste business. Since its founding in 1993, the company has continued to benefit from increasingly stringent medical waste disposal regulations and fewer hospitals destructing the waste themselves. Barron's speculates that the stock will return to last year's high of $66 within two years.
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