Ponte Vedra, Florida-based Advanced Disposal Services Inc. has announced revenue for the first quarter of 2017 of $347.4 million, up by more than $13 million compared with the $333.8 million garnered in the first quarter of 2016. Net loss during first quarter of 2017 was $7 million compared with a loss of $14.3 million in the first quarter of 2016.
The company says it achieved quarterly adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $87.2 million, an increase of $400,000 compared with the first quarter of 2016.
Revenue gains were driven by acquisition growth (from the company’s purchase of Indiana-based CGS Services Inc., as well as what it calls three “tuck-in acquisitions” during the first quarter of 2017) and what the firm calls “continued strong pricing with average yield for the quarter of 2.4 percent.”
“Advanced Disposal remains committed to generating improving cash flow for our shareholders over time,” says Richard Burke, the firm’s CEO. “We are excited that we were able to redeploy some of the cash generated during the quarter to enter into a new vertically integrated market by closing on the acquisition of CGS. CGS is an established operation in a secondary market that has developed an excellent reputation and provides us with a new platform to continue to grow our business.”