Moreover, waste management services provider Stericycle Inc. (SRCL, Financial) jumped +25.29% over the period. The company is executing well against its multi-year strategy to increase sales, improve profitability and reduce costs. Quarterly performance highlights include organic top line growth across the core businesses, an improvement in Adjusted EBITDA, strong free cash flow generation and the largest quarterly net debt reduction SRCL has made in two years. The company is also making progress on its portfolio rationalization efforts, as it divested three non-core businesses during October. Looking ahead, we view SRCL as a solid franchise with stable long-term growth prospects, including margin expansion opportunities and strong free cash flow generation resulting from ongoing strategic transformation initiatives.
From John Rogers (Trades, Portfolio)' Ariel Fund fourth-quarter 2019 commentary.
