07:51 AM EDT, 05/02/2025 (MT Newswires) -- SECURE Waste Infrastructure ( SECYF ) reported Friday a 91% decline in first-quarter net income, missing analysts' expectations.

The company booked a net income of $38 million, or $0.16 per diluted share, falling from $422 million, or $1.47 per diluted share, and coming in below the analyst consensus estimate of $0.22 per share compiled by FactSet.

Revenue dropped to $2.70 billion from $2.88 billion and adjusted EBITDA slipped to $121 million from $132 million.

"Our first-quarter performance demonstrates the consistency of our core infrastructure business and our ability to generate stable, high-quality earnings in a dynamic market environment," said Allen Gransch, SECURE's president and CEO.

Amid macroeconomic uncertainty, SECURE provided its 2025 guidance that includes an adjusted EBITDA target of $510 million to $540 million and discretionary free cash flow of $270 million to $300 million.

The company also increased its organic growth capital program by $40 million to $125 million and maintained its quarterly dividend of $0.10 per share.