11:33 AM EDT, 05/02/2025 (MT Newswires) -- (Updates shares.)

SECURE Waste Infrastructure ( SECYF ) on Friday reported a 91% drop in its first-quarter profit, missing analysts' expectations.

The company said it earned $38 million, or $0.16 per share, in the period, down from $422 million, or $1.47, in the year-prior quarter, below the consensus analyst 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 chief executive Allen Gransch.

Amid macroeconomic uncertainty, SECURE maintained 2025 guidance including 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.

SECURE's shares were last seen up $0.405 to $13.565 on the Toronto Stock Exchange.

Price: 13.56, Change: +0.40, Percent Change: +3.04