US Ecology CEO Discusses Q3 2010 Results – Earnings Call Transcript
During the third quarter, we disposed 237,000 tons of material equally in the total volume disposed in the entire first half of 2010. The higher revenue in volume resulted from the GE Hudson River project, shipments under our Army Crop contract and several other smaller to mid size cleanups that shipped during the quarter.
While Base business was down 3% during the quarter as compared with the third quarter of 2009, full year-to-date Base business was relatively flat. Our Event business was up 14% during the quarter when compared to the third quarter last year due to contributions from the previously mentioned GE contract, Army Crop contract and various other projects.
Jeff will provide more details on the financials in a minute, but I wanted to give you a quick status on our pending acquisitions. First, our pending acquisition of Stablex Canada is progressing well and we expect the transaction to close this coming Friday. That means this time next week, we expect to own the Stablex treatment and landfill near Montreal, Canada.
The more we learn about Stablex, the more excited we are to add this premier hazardous waste facility to the US Ecology family facilities, in particular we have been impressed with the people and their commitment to the business.Our acquisition of the Siemens hazardous liquids treatment facility near Los Angeles and Vernon, California is also progressing, albeit, more slowly that we like. There are several conditions that need to be met prior to closing including regulatory approval and the resolution of a minor environmental matter. But we continue to believe that this acquisition will close by the end of the year, however, closing is depended upon a couple of matters that are currently outside our control. We are very excited to add these two top-notch facilities to our family of facilities, but I will give you a little more on that later. For now, I will turn the call back to Jeff to provide a more detailed review of the financial results released earlier today. Jeff? Read the rest of this transcript for free on seekingalpha.com
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