United States

Stericycle Inc (SRCL.OQ)

SRCL.OQ on NASDAQ Stock Exchange Global Select Market

28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Stericycle issues statement on class certification order
Friday, 17 Feb 2017 02:23pm EST 

Stericycle Inc : Stericycle statement on class certification . "Order does not address underlying merits of allegations" . Court acknowledges that certification does not indicate that contractual pricing at issue is inappropriate .Released statement regarding class certification order issued on Feb 16, by U.S. district court for Northern district of Illinois.  Full Article

Stericycle for Q4 expects to record charges of about $65-$75 million to pre-tax income
Thursday, 26 Jan 2017 04:26pm EST 

Stericycle Inc : Stericycle Inc - for Q4 of 2016, Stericycle, inc expects to record charges of approximately $65-$75 million to pre-tax income . Stericycle Inc- anticipates approximately $30-$32 million of total charges for Q4 will be adjusting items consistent with co's historical classifications . Stericycle Inc- does not expect its 2017 guidance for adjusted diluted earnings per share or free cash flow to change as a result of these charges . Stericycle Inc - pre-tax charges are primarily related to write-down of certain assets in United Kingdom . FY2017 earnings per share view $4.61, revenue view $3.60 billion -- Thomson Reuters I/B/E/S . Stericycle Inc- company expects balance of charges to reduce both GAAP and non-GAAP net income for Q4 by approximately $35-$43 million on a pre-tax basis .Stericycle Inc - company has written down value of certain assets due to disposal of certain M&I assets in U.K. and classification of other assets in U.K..  Full Article

BRIEF-Stericycle says to restate results for three quarters of 2015
Thursday, 28 Jul 2016 04:04pm EDT 

Stericycle Inc : Says restatement had no effect on net income for fiscal year ended December 31, 2015 . Says Co's board determined that consolidated financial statements for quarters ended March 31, 2015, June 30, 2015 and Sept 30, 2015 should no longer be relied . Cites errors in timing of recognition of certain loss reserves - SEC filing . Errors in timing of recognition of certain loss reserves relate to Co's settlement of two previously disclosed litigation matters . Says identified accounting errors had no effect on Co's audited annual results for fiscal year ended Dec 31, 2015 .says it will restate portions of its interim condensed consolidated financial statements for affected periods to reflect modified timing of recognition of these losses.  Full Article

Stericycle Inc reports results for the Q2 and year to date 2016
Thursday, 28 Jul 2016 04:03pm EDT 

Stericycle Inc : Stericycle, Inc. reports results for the second quarter and year to date 2016 . Q2 GAAP earnings per share $0.43 . Q2 revenue $891.6 million versus I/B/E/S view $912.8 million . Q2 earnings per share view $1.18 -- Thomson Reuters I/B/E/S .Q2 adjusted Non-GAAP earnings per share $1.18.  Full Article

Stericycle Declares Dividend on Mandatory Convertible Preferred Stock
Thursday, 18 Feb 2016 04:05pm EST 

Stericycle, Inc:declared a dividend of $13.125 per share on the company's 5.25% Series A Mandatory Convertible Preferred Stock, to be paid in cash on March 15, 2016 to holders of record as of March 1, 2016.This equates to $1.3125 per depositary share, each of which represents a 1/10(th) interest in a share of the mandatory convertible preferred stock.  Full Article

Stericycle, Inc declares dividend on mandatory convertible preferred stock
Wednesday, 18 Nov 2015 04:02pm EST 

Stericycle, Inc:Declares dividend of $13.125 per share on the company's 5.25% Series A Mandatory Convertible Preferred Stock, to be paid in cash on Dec. 15 to holders of record as of Dec. 1.  Full Article

Stericycle Inc in $26.75 mln settlement for overcharging governments - Reuters
Friday, 30 Oct 2015 12:56pm EDT 

Stericycle Inc:Stericycle Inc has reached a $26.75 mln settlement of allegations that the medical waste disposal company overcharged government entities in several U.S. states, Illinois Attorney General Lisa Madigan announced on Friday - RTRS.Madigan said the settlement resolves claims by the federal government, 12 U.S. states and Washington, D.C. over alleged violations of federal and state false claims acts - RTRS.Stericycle was accused of having since 2003 imposed, without notice to government customers, automatic price increases that purportedly represented fuel and energy surcharges but which did not reflect actual increases in fuel and energy costs, Madigan said - RTRS.  Full Article

Stericycle announces settlement to end 7-Year Qui Tam Suit
Thursday, 8 Oct 2015 04:00pm EDT 

Stericycle:Entered into a settlement agreement for a qui tam lawsuit that has been ongoing since 2008.As previously disclosed by Stericycle in its filings with the U.S. Securities and Exchange Commission, a qui tam complaint was filed in 2008 by a former Stericycle employee on behalf of the Federal Government and later fourteen states and the District of Columbia.Says in that case, brought under Federal False Claims Act and various equivalent state statutes, the former employee alleged that Stericycle improperly increased its service price to certain government customers by passing on cost increases without contractual authorization.Says the matter has now been settled by all parties, which will result in Stericycle paying a total of $26,750,000 to the Federal Government and all affected states to resolve all claims.Stericycle denied all allegations raised by the former employee and is settling this matter without admitting fault or wrongdoing.Says the parties announced that they agreed to settle the matter to avoid the delay, uncertainty, and expense of continued litigation.  Full Article

Stericycle completes acquisition of Shred-it International
Thursday, 1 Oct 2015 04:01pm EDT 

Stericycle:Completed the acquisition of Shred-it International, the global leader in secure information destruction services.Says acquisition will strengthen Stericycle's growth opportunities by providing additional business-to-business compliance solutions, leveraging Stericycle's existing core capabilities, and expanding the company's global reach.Stericycle announced its intention to acquire Shred-it from Birch Hill Equity Partners, Cintas Corporation and other equity holders on July 15th, subject to receipt of certain regulatory approvals and satisfaction of other customary closing conditions.With these requirements now fulfilled, Shred-it will become a wholly-owned subsidiary of Stericycle.  Full Article

Stericycle announces public offering of mandatory convertible preferred stock to be represented by depositary shares
Tuesday, 8 Sep 2015 05:12pm EDT 

Stericycle:Says co intends to offer 7,000,000 depositary shares, each of which represents a 1/10(th)interest in a share of its Series A Mandatory Convertible Preferred Stock in a registered public offering, subject to market and other customary conditions.Offering price is expected to be $100.00 per depositary share.Company intends to grant the underwriters of the offering the option to purchase up to an additional 700,000 depositary shares.Each share of Mandatory Convertible Preferred Stock is expected to be issued with a liquidation preference of $1,000 per share.To use proceeds, to finance acquisition of all of equity interests in Shred-it International ULC,Shred-IT JV ,Boost GP,Boost Holdings.BofA Merrill Lynch, Goldman, Sachs & Co. and J.P. Morgan are the joint book-running managers on the offering.  Full Article

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BRIEF-Stericycle issues statement on class certification order

* Court acknowledges that certification does not indicate that contractual pricing at issue is inappropriate