Report
Barbara Noverini
EUR 101.80 For Business Accounts Only

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

We’re maintaining our fair value estimate of $53 for wide-moat US Ecology following disappointing third-quarter results. We believe that many of the negative factors that had an impact on the quarter are temporary and fail to change our longer-term thesis. Revenue grew 7.4% to about $135 million in the quarter despite severe disruptions from Hurricane Harvey on the U.S. Gulf Coast, an area of major importance to the company’s recurring base business. For example, base business declined by 16% in...
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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