Trimming Estimates on Small Customer Pricing Pressure; 2Q17 Tops
- 2Q17 (June) adjusted EPS was $1.15 (vs $1.18 a year earlier), 2 cents above our estimate;
- For 2017, our EPS estimate is now $4.55 (from $4.66), as momentum in Shred-it and some improvement in Manufacturing & Industrial waste are being overshadowed by small customer pricing pressure coming in slightly higher-than-anticipated in the core medical waste business;
- For 2018, our EPS estimate is now $4.82 (from $4.92), up 6% from our 2017 projection.
Great Lakes Review is located in Cleveland, Ohio, was founded in 1981 and became a division of Wellington Shields & Co. LLC in 2011. Great Lakes Review is a research boutique focused on the fundamentally-oriented investor seeking companies that dominate their respective specialty niche regardless of industry. The objective is to make money for the long-term by gradually accumulating a diversified portfolio from a universe of no more than 30 companies. Although short-term-oriented accounts will be alerted to trading opportunities, aggressive sell recommendations are triggered only by a deterioration in long-term fundamentals, not by short-term blips or investor fancy. Coverage of those names that lose their earnings momentum or earnings predictability may be dropped and replaced with more vital candidates.
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