Advanced Disposal Services, Inc. (ADSW) 10-K Annual Report February 2020

Advanced Disposal Services, Inc. (NYSE: ADSW), (d/b/a Advanced Disposal) announced today revenue of $400.5 million for the three months ended December 31, 2019 versus $394.8 million in the same period of the prior year. Net loss during fourth quarter 2019 was ($3.2) million or ($0.04) per diluted share, and adjusted net income, which excludes certain gains and expenses, was $7.5 million, or $0.08 per diluted share.

"We executed on a number of important objectives in 2019 including year-over-year improvements across all key safety metrics and continued strong cash flow generation," said Richard Burke, CEO. "While we faced operating headwinds related to recycling and leachate costs, our team delivered on the items directly within their control, and I'm proud of the focus, dedication, and professionalism our team has exhibited throughout the year."

Fourth Quarter and Full Year 2019 Highlights


•	Fourth quarter revenue of $400.5 million represented a 1.4% increase


•	Achieved fourth quarter and full year average yield of 3.3%


•	Fourth quarter organic volume declined 2.2% due to lower disposal tonnage and full year organic volume was flat


•	Year-over-year growth from acquisitions was 1.4% for the fourth quarter and full year


•	Net loss for the fourth quarter was ($3.2) million


•	Achieved adjusted EBITDA of $103.7 million for the fourth quarter, which included a $9.4 million year-over-year headwind related to our recycling business and higher disposal facility costs. Those costs were partially offset by a $4.5 million benefit from CNG fuel tax credits


•	Full year revenue of $1,623.0 million was up 4.2% overall versus the prior year


•	Full year cash provided by operating activities was $280.2 million


•	Achieved full year adjusted free cash flow of $136.8 million

Investor Communications

On April 14, 2019, Advanced Disposal entered into a merger agreement with Waste Management, Inc. ("Waste Management")

whereby a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for $33.15 per share in

cash. In light of the pending transaction, we elected to cease conducting quarterly earnings conference calls until transaction

closing, although we will continue to provide a quarterly earnings release. We also elected to enter into an extended quiet

period related to investor communications and are no longer providing forward-looking guidance until the transaction is closed.

You should read the following information in conjunction with our audited consolidated financial statements and notes thereto

as of and for the year ended December 31, 2019, appearing in our Annual Report on Form 10-K to be filed with the Securities and Exchange Commission.

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 (loss) income 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 Thursday, February 20, 2020 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.

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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 4.1: Instruments Defining The Rights Of Security Holders, Including Indentures

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: 0001628280-20-002065
Submitted to the SEC: Mon Feb 24 2020 10:28:43 AM EST
Accepted by the SEC: Mon Feb 24 2020
Period: Tuesday, December 31, 2019
Industry: Refuse Systems

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Advanced Disposal Services, Inc. (ADSW) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

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