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Advanced Disposal Services, Inc. (ADSW) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Advanced Disposal Services, Inc.

CIK: 1585790 Ticker: ADSW



Exhibit 99.1
FOR IMMEDIATE RELEASE
ADVANCED DISPOSAL ANNOUNCES SECOND QUARTER RESULTS
Operating income increases $10.9 million and net income improves $9.9 million versus prior year
Average yield exceeds 3%

PONTE VEDRA, Fla. (August 1, 2018) –
Advanced Disposal Services, Inc. (NYSE: ADSW), (d/b/a Advanced Disposal) announced today revenue of $398.1 million for the three months ended June 30, 2018 versus $383.1 million in the same period of the prior year. Net income during the second quarter 2018 was $9.7 million, or $0.11 per diluted share and adjusted net income, which excludes certain gains and expenses, was $17.3 million, or $0.19 per diluted share. Second quarter 2017 net loss was $0.2 million, or $0.00 per diluted share, and adjusted net income was $13.8 million, or $0.16 per diluted share, in the prior year.

"Advanced Disposal continues to improve its overall profitability led by disciplined pricing that is helping to drive gains in operating income, net income, and adjusted EBITDA" said Richard Burke, CEO. "We have also generated operating cash flow of $163.2 million and adjusted free cash flow of $81.3 million year-to-date. Based on our year-to-date results, we remain on track to achieve our full year guidance targets."

Second Quarter Financial Highlights
Revenue of $398.1 million was up 3.9% overall and 6.2% excluding an $8.8 million reduction related to the adoption of the new revenue recognition standard
Achieved average yield of 3.2% and organic volume growth of 1.2%
Year-over-year growth from acquisitions was 2.6% as the company benefited from the rollover impact of acquisitions completed in 2017 and six tuck-in acquisitions completed year-to-date 2018
Net income was $9.7 million, or $0.11 per diluted share, an increase of $9.9 million versus the prior year
Adjusted net income improved $3.5 million to $17.3 million and adjusted diluted earnings per share of $0.19 was $0.03 higher than second quarter 2017
Adjusted EBITDA improved $2.2 million to $112.0 million despite a $4.9 million adjusted EBITDA decline from the sale of recyclables and net fuel costs
Cash provided by operating activities during the second quarter of 2018 improved $8.7 million to $84.7 million and was $163.2 million year-to-date 2018
Adjusted free cash flow was $81.3 million year-to-date 2018

Fiscal Year 2018 Guidance
Advanced Disposal reaffirms its full year revenue guidance of $1,520 million to $1,540 million, adjusted EBITDA guidance of $426 million to $436 million, and adjusted free cash flow guidance of $134 million to $144 million.

This guidance is based on current economic conditions and assumes no 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 2, 2018 at 10:00 a.m. EST. The call can be
accessed by dialing (866) 478-7805 and asking for conference ID 7172495 or the Advanced Disposal Q2 2018 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.

1

The following information was filed by Advanced Disposal Services, Inc. (ADSW) on Wednesday, August 1, 2018 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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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Stockholders' Equity (Unaudited)
Condensed Consolidated Statement Of Stockholders' Equity (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Operations (Unaudited)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Business Operations
Business Operations (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Summary Of Major Components Of Debt - Interest Rates (Details)
Debt - Summary Of Major Components Of Debt - Principal (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Tables)
Derivative Instruments And Hedging Activities - Additional Information (Details)
Derivative Instruments And Hedging Activities - Summary Of Fair Values Of Derivative Instruments Recorded In Condensed Consolidated Balance Sheets (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Details)
Earnings (Loss) Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Fair Value Measurements - Estimated Fair Value Of Company's Debt (Details)
Income Taxes
Income Taxes (Details)
Landfill Liabilities
Landfill Liabilities (Tables)
Landfill Liabilities - Summary Of Liabilities For Final Closure And Post-Closure Costs (Details)
Revenue Recognition
Revenue Recognition (Details)
Segment And Related Information
Segment And Related Information (Tables)
Segment And Related Information - Additional Information (Details)
Segment And Related Information - Disaggregated Revenue (Details)
Segment And Related Information - Summary Of Financial Information Concerning Reportable Segments (Details)

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

Ticker: ADSW
CIK: 1585790
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-18-010719
Submitted to the SEC: Tue Aug 07 2018 5:16:02 PM EST
Accepted by the SEC: Tue Aug 07 2018
Period: Saturday, June 30, 2018
Industry: Refuse Systems

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