Boston, MA 05/07/2014 (wallstreetpr) –The waste management company US Ecology Inc (NASDAQ:ECOL) expects to have a busy month in May. As the company looks forward to meeting is self-imposed performance targets in the current quarter and year, the company’s executives will also be out to make presentations almost throughout the month of May.
The company is also expected to enter a debt to finance its recently announced acquisition of a fellow waste management company, Environmental Quality.
May presentations
The company announced several upcoming presentations at investor conferences during the month of May. The presentations start this week on May 8, when the company’s management will present in New York City at the Wells Fargo Co. (NYSE:WFC) 5th Annual Industrial and Construction Conference. The event will be held at the New York Palace.
A week later, the management of US Ecology will be at Credit Suisse’s Boston Environmental and Industrial Services Conference. The event will take place on May 13, at the Credit Suisse’s Boston offices. Hot on the heels of the Credit Suisse event will be a presentation on May 22, at the 9th Annual Global Industrials Conference organized by Houlihan Lokey in the New York.
US Ecology Inc (NASDAQ:ECOL)’s May conference itinerary will wrap up with the May 28, presentation at the 2014 KeyBanc Capital Markets Industrial, Automotive & Transportation Conference in Boston.
Asset acquisition
With the market for waste management expanding fast, US Ecology Inc (NASDAQ:ECOL) is keen on expanding its waste management capacity and geographical coverage. As such, the company announced a $465 million acquisition deal with Environmental Quality. The deal is expected to close in the current quarter and also expects the acquisition to immediately contribute to its earnings this year.
The company seeks to obtain debt funding of about $540 million to finance the acquisition. Though the company also said, it will spend some cash in the transaction.
The company released 1Q2014 results recently whereby it earned 48 cents per share, beating estimate of 34 cents per share. Revenue in the quarter was $53.35 million against estimated $46.93 million.
