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Ecology and Environment reports lower fiscal 3Q earnings but growth in its South American segment

The environmental consulting firm offers guidance for disposing of hazardous waste
Environmental testing
Shares were down in Wednesday morning trading

Ecology and Environment Inc (NASDAQ:EEI) announced its fiscal third quarter results, seeing an increase in revenue from its South American operations.

The waste management company reported earnings of US$0.04 per share on revenue of US$23.72mln compared with US$0.06 EPS on revenue of US$24.05mln in the previous year’s third quarter.

An increase in revenue from its South American operations offset the lower revenue from its U.S. operations. Revenues in South America increased 17% to US$5.4mln while U.S. revenues decreased 9% to US$14.7mln.

"While we have seen additional business opportunities and significant improvement in revenue and earnings in our South American operations, our U.S. results in the third quarter continued to be impacted by sluggish activity in our core market sectors of oil and gas and federal government work," said CEO Gerard A. Gallagher III.

The environmental consulting firm provides professional and support services to private clients and government agencies for the disposal of hazardous waste and pollutants.

The company publishes a quarterly publication called The Current to explore the issues impacting markets in the environmental field, such as toxic algal blooms and farm runoff.

Shares of EEI were down more than 2.5% to US$12.90 in Wednesday morning trading.

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