Project Delays Affect U.S. Ecology’s Third-Quarter Results; Shares Fairly Valued
We’re reiterating our $46 fair value estimate for wide-moat U.S. Ecology after third-quarter earnings. The company reported a sluggish quarter of event-driven work, driven largely by delays in clean-up projects that are expected to persist through the end of the year. Revenue declined nearly 16% year over year to approximately $125 million, with event work down 24%. However, recurring base business grew 4% year over year, a positive sign given the company’s efforts to grow the more predictable p...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.
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.
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