12:00 PM EDT, 10/30/2024 (MT Newswires) -- SECURE Energy Services ( SECYF ) on Wednesday said its third-quarter profit doubled on higher revenue.

The waste management and energy infrastructure company earned $94 million, or $0.39 per share, in the period, up from $47 million, or $0.16, in the year-prior quarter.

Revenue rose to $2.61 billion from $2.22 billion while adjusted EBITDA fell 20% to $127 million.

"Positive industry trends and strong operational execution drove financial results on the high end of our expected range in the third quarter," chief executive Allen Gransch said.

The company reaffirmed its 2024 adjusted EBITDA guidance at the top end of the $470 million to $490 million range.

"We maintain a favorable outlook for the business as increased industrial and production activity is leading to incremental volumes requiring processing, recycling and disposal across SECURE's facility network," Gransch added.

SECURE Energy shares were last seen up $1.30 to $15.07 on the Toronto Stock Exchange.

Price: 15.07, Change: +1.30, Percent Change: +9.44