Advanced Disposal Services, Inc. (ADSW) 10-K Annual Report February 2019

Advanced Disposal Services, Inc. (NYSE: ADSW), (d/b/a Advanced Disposal) announced today revenue of $394.8 million for the three months ended December 31, 2018 versus $384.4 million in the same period of the prior year. Net income during fourth quarter 2018 was $2.5 million, or $0.03 per diluted share, and adjusted net income, which excludes certain gains and expenses, was $11.4 million, or $0.13 per diluted share. Fourth quarter 2017 net income included a $40.4 million benefit from the Tax Cuts and Jobs Act and was $42.0 million, or $0.47 per diluted share, and adjusted net income was $11.2 million, or $0.13 per diluted share.

"Cash flow generation continues to be a key area of focus for us, and we are pleased that in 2018, we generated cash from operations of $308.3 million and improved adjusted free cash flow by 10%" said Richard Burke, CEO. "We also remain committed to disciplined pricing and achieved average yield of 3.4% in 2018. Overall, we are well positioned as a company as we move into 2019."

Fourth Quarter and Full Year Highlights


•	Fourth quarter revenue of $394.8 million was up 2.7% overall versus the prior year and 4.8% excluding an $8.2 million reduction related to the adoption of the new revenue recognition standard


•	Achieved fourth quarter average yield of 4.0% and full year average yield of 3.4%


•	Fourth quarter organic volume growth declined 0.3% led by a decline in special waste volume but full year organic volume grew 0.5%


•	Net income for the fourth quarter was $2.5 million or $0.03 per diluted share


•	Adjusted net income improved $0.2 million to $11.4 million for the fourth quarter versus the prior year and adjusted diluted earnings per share remained at $0.13


•	Achieved adjusted EBITDA of $108.7 million for the fourth quarter


•	Full year revenue of $1,558.2 million was up 3.4% overall versus the prior year and 5.6% excluding a $33.7 million reduction related to the adoption of the new revenue recognition standard


•	Net income for the full year was $9.4 million and adjusted EBITDA grew $9 million versus the prior year to $427.1 million


•	Full year cash provided by operating activities was $308.3 million


•	Full year adjusted free cash flow increased 10% to $145.6 million

Fiscal Year 2019 Guidance

Advanced Disposal's guidance is based on current economic conditions and does not assume any significant changes in the overall economy during 2019. Please refer to the "Special Note Regarding Forward-Looking Statements" section of this press release.


•	Revenue is estimated to be between $1,603 million and $1,629 million. This includes average yield of 3.0% to 3.6% and organic volume of (0.4%) to 0.3%.


•	Adjusted EBITDA is estimated to be between $440 million and $452 million.


•	Capital expenditures are estimated to be between $191 million and $201 million.


•	Adjusted free cash flow is estimated to be between $140 million and $152 million.

Additional Information

While the Company is still completing its assessment of the effectiveness of its internal control over financial reporting as of December 31, 2018, in its upcoming fiscal 2018 Annual Report on Form 10-K, it expects to report a material weakness in internal control. The weakness relates to certain deficiencies pertaining to the precision of the design and operating effectiveness of controls involving price initiation related to revenue, receivables, and deferred revenue accounts. We will work to remediate the deficiencies prior to the end of 2019. As of the date of this release, there have been no misstatements identified in the financial statements as a result of these deficiencies.

The following information was filed by Advanced Disposal Services, Inc. (ADSW) on Thursday, February 21, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-K report or click the link below:

https://last10k.com/sec-filings/report/1585790/000162828019001961/ads201810-kdocument.htm

View differences made from one year to another to evaluate Advanced Disposal Services, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Advanced Disposal Services, Inc..

Continue

Assess how Advanced Disposal Services, Inc.'s management team is paid from their Annual Proxy

Advanced Disposal Services, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

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

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

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-K Annual Report
Accession Number: 0001628280-19-001961
Submitted to the SEC: Tue Feb 26 2019 4:11:00 PM EST
Accepted by the SEC: Tue Feb 26 2019
Period: Monday, December 31, 2018
Industry: Refuse Systems

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/adsw/0001628280-19-001961.htm

Advanced Disposal Services, Inc. (ADSW) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

SEC Filings

ADSW Valuations

ADSW Annual Reports

ADSW Quarterly Reports

ADSW Corporate News