PALM BEACH, Florida, June 16, 2020
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, June 16, 2020 /PRNewswire/ -- It has been said that proper solid waste management is crucial to the livelihoods of all communities around the world, impacting daily health, productivity, and cleanliness. Poorly managed waste streams can easily clog drains and cause flooding, transmit diseases, harm economic development, increase respiratory problems through burning waste, and contaminate terrestrial and marine environments. A recent report from Global Market Insights said that the Solid Waste Management Market size was valued at over USD $1 trillion in 2019 and the annual capacity is anticipated to exceed 28 billion tons by 2026. The report also said that implementation of stringent environmental mandates are propelling the waste disposal market growth. It said: "The waste treatment industry has witnessed a significant turnaround in the recent past. The introduction of various government measures to adopt sustainable trash management practices has significantly propelled the business outlook. As of now, most of the developed nations are making significant efforts to raise investments across the recycling & composting/AD industry. "Active companies in the markets this week include National Storm Recovery Inc. (OTC: NSRI), BioHiTech Global, Inc. (NASDAQ: BHTG), Waste Management, Inc. (NYSE: WM), Republic Services, Inc. (NYSE: RSG), Advanced Disposal Services, Inc. (NYSE: ADSW).
The report continued, discussing that strategic partnerships and collaborations are acting as the focal point of market leaders, saying: "The leading market players operating across the solid waste management industry are currently focusing on collaborations and strategic partnerships with the utilities to gain a competitive edge. The business strategy on collaborations is devised to transmute the overall business model by driving optimal efficiency and the maximize the market share."
National Storm Recovery Inc. (OTC: NSRI) NEWS: National Storm Recovery, Inc. (NSRI) Reports Over $1.7 Million in Gross Profit & Over $34.7 Million in Total Assets Within its 1st Quarter Ending March 31st, 2020 - National Storm Recovery Inc. ("NSRI" or the "Company"), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, today announces first quarter financial results (for the 3 month period ending March 31, 2020 as already reported on otcmarkets.com).
Within the Company's first quarter 2020, utilizing only approximately 2 months of post-acquisition revenue of Much Manufacturing, the Company recorded revenues of $6,255,262, $1,728,506 of gross profit, and $34,711,993 in total assets, including $4,303,668 of cash.
Tony Raynor, NSRI's CEO, comments: "This year's first quarter has been extraordinary! We have made major upgrades at our key production facility to increase our production. We are prepared to meet the challenges and have planned accordingly for the hurricane season, the busiest season within our industry." To learn more please visit: www.NationalArborCare.com
Other recent developments in the markets this week include:
BioHiTech Global, Inc. (NASDAQ: BHTG) a technology and services company that provides cost-effective and sustainable environmental management solutions, recently provided an update on the progress of its new, high-level disinfectant distribution business.
After entering into a distribution agreement in May, the Company has had preliminary discussions with potential customers in the healthcare, hospitality and education markets that have led to the scheduling of live product demonstrations of the Altapure AP-4™, beginning in June. While it has not yet received any purchase orders, the Company is encouraged by the initial level of interest and the potential opportunities that are being discussed.
"We are excited about the initial interest we have seen from several potential customers in making the AP-4 a part of their post-COVID safety and disinfecting initiatives," said Frank E. Celli, CEO of BioHiTech. "We are looking forward to demonstrating the environmentally sound, high-level disinfection capabilities of the AP-4 in an actual customer setting so that target customers can evaluate its ability to keep areas such as infirmaries, guest or patient rooms, classrooms, and small common areas properly disinfected in a post-COVID-19 environment."
Waste Management, Inc. (NYSE: WM) recently announced financial results for the quarter ended March 31, 2020. Revenues for the first quarter of 2020 were $3.73 billion compared with $3.70 billion for the same 2019 period. Net income for the quarter was $361 million, or $0.85 per diluted share, compared with $347 million, or $0.81 per diluted share, for the first quarter of 2019. On an adjusted basis, net income was $395 million, or $0.93 per diluted share, in the first quarter of 2020, compared with $402 million, or $0.94 per diluted share, in the first quarter of 2019.
The Company's adjusted first quarter 2020 results exclude a $0.05 per diluted share negative impact from advisory costs incurred in connection with the pending acquisition of Advanced Disposal Services, Inc., $0.02 per diluted share primarily from the non-cash impairment of an unconsolidated investment, and $0.01 per diluted share from costs incurred to support its plan to implement a new enterprise resource planning system.
Republic Services, Inc. (NYSE: RSG) recently announced that it will partner with three national nonprofit organizations on a $3 million effort to help revitalize locally owned small businesses across America that have been disrupted by the COVID-19 pandemic. The Republic Services Charitable Foundation is providing $1 million grants to longstanding partners Rebuilding Together, Habitat for Humanity International and NeighborWorks America as part of the Company's $20 million Committed to Serve initiative.
"Small businesses are the economic engines of our local communities, and they are the cornerstone of strong and vibrant neighborhoods," said Jon Vander Ark, president. "Independently owned shops and restaurants have faced unprecedented challenges during this time. This support is a natural expansion of our charitable mission of restoring and revitalizing neighborhoods where we live and work to include those local businesses that serve as key staples of the community."
Advanced Disposal Services, Inc. (NYSE: ADSW) recently announced revenue of $386.7 million for the three months ended March 31, 2020 versus $384.0 million in the same period of the prior year. Net loss during the first quarter 2020 was ($6.3) million or ($0.07) per diluted share and adjusted net income, which excludes certain gains and expenses, was $4.1 million, or $0.04 per diluted share.
"While all companies are navigating through unprecedented times, we are approaching the COVID-19 pandemic by living our Service First, Safety Always culture," said Richard Burke, CEO. "We provide an essential service to our customers, and we could not be more proud and thankful of the work our entire team is doing to safely service our customers and communities during this public health emergency. Our business model is recession resistant, and we are reallocating resources across business lines to safely meet customer needs. Financially, we will remain focused on strong cash flow generation."
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