Advanced Disposal Services, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Revises Earnings Guidance for the Full Year 2017
For the six months, the company reported service revenues of $730.5 million compared with $692.0 million for the same period a year ago. Operating income was $35.4 million compared with $49.1 million for the same period a year ago. Loss before income taxes was $12.0 million compared with $19.1 million for the same period a year ago. Net loss was $7.2 million compared with $14.0 million for the same period a year ago. Basic and diluted loss per share was $0.08 compared with $0.22 for the same period a year ago. Net cash provided by operating activities was $172.8 million compared with $104.4 million for the same period a year ago. Purchases of property and equipment and landfill construction and development were $79.9 million compared with $69.2 million for the same period a year ago. EBITDA was $170.1 million compared with $181.6 million for the same period a year ago. Adjusted EBITDA was $197.0 million compared with $194.3 million for the same period a year ago. Adjusted net income was $17.5 million compared with $5.6 million for the same period a year ago. Adjusted earnings per common share were $0.20 compared with $0.09 for the same period a year ago.
The company is raising its full year 2017 revenue guidance to be between $1,475 million to $1,490 million from its original guidance of between $1,450 million and $1,475 million. The company reaffirms its adjusted EBITDA guidance estimated to be between $423 million and $433 million, and adjusted free cash flow estimated to be between $121 million and $141 million.