FinancialNewsMedia.com News Commentary
PALM BEACH, Florida, May 9, 2019 /PRNewswire/ -- The country has a landfill problem and new technologies may provide a solution. A recent article in Bloomberg said: "Deriving energy from waste has a long history, from simply burning trash to using it as a raw material for jet fuel… the county's population has grown, yielding more trash that needs either disposal or recycling… There's a natural resistance to landfill expansions," said the chairman of the Berkeley County Solid Waste Authority… In the heart of America's coal country, a cavernous new recycling plant is turning trash into a fuel that burns cleaner than coal, using a first-in-the-nation process hailing from Europe… The plant already has its first customer. A nearby cement plant owned by Argos USA LLC has agreed to buy and burn the garbage-based fuel. "There is also another recent technology advance that can begin to help solve the problem. An article in FORBES added: "At the current pace, it is estimated that the US will run out of landfill capacity by the year 2036, and even sooner in several regions. The situation is further impacted by an anticipated world population growth from 7.7 billion to 8.6 billion people by 2030 with its looming strain on resources and the environment. Fighting our trash crisis is a big business, and without a single solution at the forefront, there's lots of room for innovative companies to get into the game. Active companies in the markets this week include BioHiTech Global, Inc. (NASDAQ: BHTG), Advanced Disposal Services, Inc. (NYSE: ADSW), Covanta Holding Corporation (NYSE: CVA), Waste Management, Inc. (NYSE: WM), Stericycle, Inc. (NASDAQ: SRCL).
It continued: "Contrary to common belief, half-eaten sandwiches, cases of aging lettuce, and packages of expired cheese do not break down quickly. In fact… this type of food waste decomposes at a significantly slower rate. In turn, the landfills experience increased levels of methane emissions, a greenhouse gas that is 23 times as potent as carbon dioxide in terms of its impact on global warming. Through the use of on-site aerobic digesters, food is broken down into a liquid that is safely discharged into the sanitary sewer system, completely eliminating the need for hauling, storing, and processing… Aerobic digesters are a regulatory compliant solution in cities and states that have organics bans in place, as well as an environmentally-responsible alternative to traditional waste disposal methods.
The Department of Civil and Environmental Engineering at the University of Delaware recently conducted an independent (report)… comparing aerobic digester technology to composting and traditional disposal methods. The results… demonstrated that aerobic digestion technology, utilizing sewer lines, produced the most favorable outcomes regarding global warming impact.
There is a linear correlation between increases in population and waste generation, resulting in alarming predictions about our landfills' ability to accommodate ever-increasing trash. Technology-backed waste disposal and management methods offer a sustainable solution for generations to come. Aerobic digesters are one option that can help lead the way."
BioHiTech Global, Inc. (NASDAQ:BHTG) BREAKING NEWS: BioHiTech Global, a technology and services company that provides cost-effective and sustainable waste management solutions, today announced that it has received an initial multi-unit product order for its new BioHiTech Saplingâ food waste digester from a regional grocery chain operating 19 locations in three Northeastern states.
The Sapling Digester is a larger capacity addition to BioHiTech's line of Revolution Series™ Digesters. The Revolution Series of Digesters provide a cost-effective, regulatory-compliant food waste disposal solution that aligns well with the sustainability vision of today's businesses. BioHiTech's Digester technology safely disposes food waste on-site, eliminating hauling costs and reducing pest-related issues typically associated with traditional disposal methods. Each Sapling Digester is capable of diverting up to 800 pounds per day or 146 tons from landfills each year. The six Sapling units to be installed at these grocery locations, are capable of diverting from landfills as much as 1,750,000 pounds of food waste each year. The elimination of waste transportation would result in a reduction of CO2 emissions by the equivalent of removing over 120 trucks from the road.
Additionally, BioHiTech's Digester technology provides valuable real-time data analytics through the BioHiTech Cloudâ that will enable food waste diversion tracking and potentially find areas to reduce food waste generation. This data transparency allows organizations to educate staff and the community about the real impact of food waste diversion programs by embedding accurate, real-time data into company newsletters, onto their consumer-facing websites and digital signage platforms. Read this full announcement and more news for BHTG at: https://www.financialnewsmedia.com/news-bhtg/
"We are excited about the launch of our new Sapling Digester for cost-effective and sustainable food waste disposal, as well as receiving our first order from the regional grocery chain," said Frank E. Celli, Chief Executive Officer of BioHiTech Global. "Food waste disposal causes a unique set of problems including, pests, odors, and expensive transportation costs. Our technology solves these problems in a way that is environmentally responsible and cost-effective. We continue to build momentum as companies search for alternatives to an unsustainable status quo and look forward to rolling out our new larger capacity Sapling Digesters to the grocery and other higher volume markets."
In recent earnings news and developments for industry:
Advanced Disposal Services, Inc. (NYSE: ADSW) recently announced revenue of $384.0 million for the three months ended March 31, 2019 versus $364.7 million in the same period of the prior year. Net loss during the first quarter 2019 was ($6.0) million or ($0.07) per diluted share and adjusted net income, which excludes certain gains and expenses, was $1.6 million, or $0.02 per diluted share.
"Although we announced a merger agreement with Waste Management, our operating philosophy is unchanged," said Richard Burke, CEO. "We remain focused on safely providing an excellent service experience for our customers, disciplined pricing that aligns with the quality service we provide, and generating strong cash flow for our shareholders. Our first quarter results of price-led revenue growth, along with $72.5 million of cash generated from operations, and $43.9 million of adjusted free cash flow, underscore our commitment to our strategy."
Covanta Holding Corporation (NYSE: CVA) a world leader in sustainable waste management and renewable energy, is scheduled to participate in the following institutional investor conferences in May:
Macquarie Business Services Conference in Boston, Massachusettson Thursday, May 2, 2019. Bradford Helgeson, Chief Financial Officer, and Dan Mannes, Vice President of Investor Relations, will hold meetings during the event. 7th Annual Stifel / Waste360 Investor Summit in Las Vegas, Nevada on Monday, May 6, 2019. Michael de Castro, Executive Vice President of Supply Chain, Derek Veenhof, Executive Vice President of Asset Management, and Dan Mannes, Vice President of Investor Relations, will be speaking at 2:15 PM (Pacific) and will be holding meetings at the event.
Waste Management, Inc. (NYSE: WM) recently announced financial results for its quarter ended March 31, 2019. Revenues for the first quarter of 2019 were $3.70 billion compared with $3.51 billion for the same 2018 period. Net income for the quarter was $347 million, or $0.81 per diluted share, compared with $396 million, or $0.91 per diluted share, for the first quarter of 2018.(a) On an adjusted basis in the first quarter of 2019, net income was $402 million, or $0.94 per diluted share.(b) There was no adjustment to reported earnings in the first quarter of 2018.
"The strong results we generated in the first quarter demonstrate that delivering an outstanding customer experience and focusing on continuous improvement produce solid growth in our business," said Jim Fish, President and Chief Executive Officer of Waste Management. "In the first quarter, we saw organic revenue growth of more than 6% in our collection and disposal business, which translated into about a 7% increase in operating EBITDA in that business.(c) More importantly, this strong operational performance resulted in net cash provided by operating activities increasing by 10% when compared to 2018.
Stericycle, Inc. (NASDAQ: SRCL) recently reported results for the first quarter ended March 31, 2019 and reaffirmed 2019 guidance.
Revenues for the quarter were $830.1 million, a decrease of 7.3% from $895.0 million in the first quarter of last year. The Company continued progress towards its Business Transformation and made additional planned investments in the development of its comprehensive enterprise resource planning (ERP) platform. Net loss was $37.8 million, or $0.42 diluted loss per share, compared with net income of $21.0 million, or $0.25 diluted earnings per share in the first quarter of last year. Adjusted EBITDA was $136.8 million, or 16.5% of revenues, compared with $189.3 million, or 21.2% of revenues in the first quarter of last year. Adjusted diluted earnings per share was $0.57 compared to $1.21 in the 2018 comparable period.
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