U.S. Markets open in 2 hrs 47 mins

John Rogers Comments on Stericycle

- By Holly LaFon

Waste management services provider, Stericycle, Inc. (NASDAQ:SRCL) increased +48.32% in the period. SRCL delivered earnings that were modestly above Wall Street expectations driven by strength in its core Secure Information Destruction business and positive momentum in the regulated medical waste business. Additionally, as part of its ongoing efforts to ensure SRCL has the skills and expertise necessary to drive performance and execute its Business Transformation goals, the company recently added several new executives to its leadership team, including a new Chief Executive Officer, Chief Commercial Officer, and will be appointing a new Chief Financial Officer. Looking ahead, we continue to view SRCL as a solid franchise with stable long-term growth prospects, including margin expansion opportunities and strong free cash flow generation resulting from ongoing strategic transformation initiatives.

From John Rogers (Trades, Portfolio)' first-quarter 2019 Ariel Fund shareholder letter.
This article first appeared on GuruFocus.