Report
Barbara Noverini
EUR 98.48 For Business Accounts Only

From pure-play disposal to one-stop shop, US Ecology's growth now depends on service line expansion.

We’re reiterating our fair value estimate of $46 per share for U.S. Ecology as a slow December finished off a rather sluggish year for the wide-moat hazardous waste company. Revenue declined about 15% year over year to $117 million in the quarter, reflecting persistent weakness in the industrial economy. In the disposal-based Environmental Solutions segment, revenue declined over 7% year over year, as recurring base business decreased 4% and event-driven cleanup work contracted 17%. Within Envir...
Underlying
US Ecology Inc.

US Ecology provides environmental services to commercial and government entities. The company's business segments are: Environmental Services, which provides a range of hazardous material management services including transportation, recycling, treatment and disposal of hazardous and non-hazardous waste; and Field and Industrial Services, which provides packaging and collection of hazardous waste and total waste management solutions such as on-site management, waste characterization, transportation and disposal of waste, as well as other services such as industrial cleaning and maintenance, remediation, lab packs, retail services, transportation, emergency response and other services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Barbara Noverini

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