Advanced Disposal Services, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company announced the revenue of $364.7 million against of $347.4 million in the same period of the prior year. Net income was $2.1 million, or $0.02 per diluted share and adjusted net income, which excludes certain gains and expenses, was $7.7 million or $0.09 per diluted share in the first quarter 2018. Net loss was $7.0 million, or $0.08 per diluted share, in the first quarter 2017 and adjusted net income was $3.7 million or $0.04 per diluted share in the first quarter 2017. Operating income was $20.0 million compared to $11.3 million a year ago. Income before income taxes was $2.9 million compared to loss of $11.7 million a year ago. Net cash provided by operating activities was $78.5 million compared to $94.8 million a year ago. Purchases of property and equipment and landfill construction and development were $34.8 million compared to $41.9 million a year ago. EBITDA was $94.5 million compared to $75.9 million a year ago. Adjusted EBITDA was $94.1 million compared to $87.2 million a year ago. Free cash flow was $45.3 million compared to $57.1 million a year ago. Adjusted free cash flow was $49.2 million compared to $40.0 million a year ago.

The company reaffirms its full year adjusted EBITDA guidance of $426 million to $436 million and its adjusted free cash flow guidance of $134 million to $144 million. The company is also reaffirming its revenue guidance with the exception of its estimate for the impact of the adoption of the new revenue recognition standard, which is estimated to reduce revenue by $34 million in 2018 compared to the prior estimate of $9 million. The company lowering the revenue guidance by $25 million and estimate full year 2018 revenue to be between $1,520 million and $1,540 million.