U.S. Ecology Shakes Off Business Disruption in the Second Quarter; Shares Fairly Valued
We’re maintaining our fair value estimate of $53 per share for wide moat U.S. Ecology as the firm weathered through business disruption at a treatment facility that was damaged by a winter storm earlier this year. Revenue was largely unaffected by the incident, growing 3% year over year to $126 million in the quarter. However, EBITDA margins declined approximately 80 basis points to 21.9% as rerouting volumes away from the damaged facility increased logistics costs. U.S. Ecology expects to recou...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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