Advanced Disposal Services, Inc. (ADSW) 10-Q Quarterly Report August 2017

Advanced Disposal Services, Inc. (NYSE: ADSW), (d/b/a Advanced Disposal) announced today revenue for the three months ended June 30, 2017 of $383.1 million versus $358.2 million in the same period of the prior year. Net loss during second quarter 2017 was $0.2 million, or $0.00 per diluted share, versus net income of $0.2 million, or $0.00 per diluted share, in second quarter 2016. The company achieved quarterly adjusted EBITDA of $109.8 million, an increase of $2.3 million versus second quarter 2016. Adjusted EBITDA margins were 28.7% during second quarter 2017.

Revenue growth of 7% for second quarter 2017 represents the largest quarterly increase in three years. Acquisitions drove nearly half of the increase led by the company's recent purchase of CGS Services, Inc., a vertically-integrated waste collection and disposal company in central and eastern Indiana, along with seven tuck-in acquisitions completed during the first six months of 2017. Organic volume also turned positive during the second quarter at 0.6% driven by growth in disposal revenue and average price yield was 1.4%.

Net loss increased $0.4 million and adjusted EBITDA improved $2.3 million during second quarter 2017 versus the same prior year period. Gains from the company's organic growth and new acquisitions coupled with interest expense savings of $11.1 million year-over-year drove increases in the company's core profitability. Adjusted net income improved $7.1 million in the second quarter of 2017, which does not include a $13.0 million non-cash impairment charge incurred during the quarter. Additionally, lower cash interest payments along with working capital improvements and increased profitability drove a $27.1 million increase in cash provided by operating activities during the second quarter, and adjusted free cash flow improved $16.8 million.

For the six months ended June 30, 2017, revenue was $730.5 million versus $692.0 million for the same period in the prior year. Net loss improved $6.8 million to $7.2 million, and adjusted net income increased $11.9 million to $17.5 million. Adjusted EBITDA of $197.0 million year-to-date was $2.7 million better year-over-year, and adjusted EBITDA margins were 27.0% for the six months ended 2017.

"Advanced Disposal continues to attain significant year-over-year improvements in cash from operations and adjusted free cash flow as we execute on our strategy" said Richard Burke, CEO. "At the same time, we have found profitable opportunities to reinvest in our business along with achieving organic growth that has driven strong-year-over-year revenue gains. Based on our current performance and second half of the year forecast, we are raising our full year revenue guidance and reaffirming our full year adjusted free cash flow and adjusted EBITDA guidance."

Fiscal Year 2017 Guidance

Advanced Disposal is raising its full year 2017 revenue guidance to be between $1,475 million to $1,490 million from its original guidance of between $1,450 million and $1,475 million. It also reaffirms its adjusted EBITDA guidance estimated to be between $423 million and $433 million, and adjusted free cash flow estimated to be between $121 million and $141 million. This guidance is based on current economic conditions and does not assume any significant changes in the overall economy. Please refer to the Special Note Regarding Forward-Looking Statements section of this press release.

Advanced Disposal will conduct a quarterly earnings conference call on August 3, 2017 at 10:00 a.m. EST. The call can be

accessed by dialing (866) 478-7805 domestically or (832) 445-1679 internationally and asking for conference ID 36123484 or

the Advanced Disposal Q2 2017 earnings call. This call will be recorded and available via replay approximately two hours after

the completion of the earnings call for thirty days. You may access the recording by dialing (855) 859-2056 or through the link

on the investor relations page of our website at www.AdvancedDisposal.com.

The calculation of free cash flow and adjusted free cash flow, as well as details of charges and other expenses that are excluded

from EBITDA and net income (loss) in arriving at adjusted EBITDA and adjusted net income, are contained in the “Reconciliation of Certain Non-GAAP Measures” section of this press release.

The following information was filed by Advanced Disposal Services, Inc. (ADSW) on Wednesday, August 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Advanced Disposal Services, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: ADSW
CIK: 1585790
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-17-008140
Submitted to the SEC: Fri Aug 04 2017 5:15:21 PM EST
Accepted by the SEC: Fri Aug 04 2017
Period: Friday, June 30, 2017
Industry: Refuse Systems

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Advanced Disposal Services, Inc. (ADSW) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

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