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Shares of Stericycle bounce on earnings, revenue beat

Medical waste sharps container.
Fairfax Media | Getty Images
Medical waste sharps container.

Stericycle shares jumped after the company reported a fourth quarter earnings and beat.

The waste management company posted earnings of $1 per share on revenue of $906.4 million on Wednesday. A consensus of analysts polled by Thomson Reuters expected earnings of 93 cents per share on revenue of $903.7 million.

Shares were up over 8 percent on Thursday.

Revenue for the year grew 19.3 percent to $3.56 billion. Stericycle's quarterly organic revenues also grew 4.4 percent. The company handles medical waste disposal, as well as drug recalls, call centers, ISHA compliance, and document shredding.

"We were very pleased with our fourth quarter operational performance. Additionally, our recall team delivered a record-breaking quarter which enhanced our results," said Charlie Alutto, president and CEO of Stericycle in a press release on Wednesday.

The Illinois-based company announced their 2017 guidance in a conference call on Wednesday, adjusting their revenue expectations to between $3.51 and $3.64 billion, towards the higher end of analyst expectations. Analysts estimated revenue to reach $3.59 billion, according to FactSet.

Stericycle shares 5-day performance