 SECOND QUARTER HIGHLIGHTS COMPARED TO PRIOR YEAR: Revenue of 213.9 million, up 37, including 70.4 million from NRC Legacy US Ecology revenue declined 8 Base Business revenue decline of 10; Event Business revenue growth of 12, excluding NRC Field and Industrial Services revenue down 6, excluding NRC Net loss of 5.2 million, or 0.17 per diluted share Adjusted loss per diluted share of 0.08 Adjusted EBITDA of 38.7 million, up 2 including NRC; Legacy US Ecology business declined 12 NRC contributed adjusted EBITDA of approximately 5.2 million Strong free cash flow generation, up 190BOISE, Idaho, Aug. 06, 2020 GLOBE NEWSWIRE -- US Ecology, Inc. NASDAQ-GS: ECOL US Ecology or the Company today reported second quarter financial results that reflect the impacts from the COVID-19 pandemic. US Ecology reported second quarter 2020 total revenue of 213.9 million including 70.4 million contribution from NRC and a net loss of 5.2 million, or 0.17 per diluted share. Adjusted loss per diluted share, as defined in Exhibit A of this release, was 0.08 per diluted share in the second quarter of 2020 and includes 0.14 per share of non-cash intangible asset amortization related to the NRC acquisition. This compared with adjusted earnings per diluted share of 0.66 in the quarter ended June 30, 2019. On November 1, 2019, US Ecology completed its acquisition of NRC Group Holdings Corp. NRC and second quarter 2020 results presented include a full three months of NRC operations.Despite the headwinds in our business due to the COVID-19 pandemic, our proactive and prudent capital preservation initiatives and the relative resiliency of our core environmental services-based businesses allowed us to generate strong cash flow and strengthen our balance sheet during these unprecedented times, commented Chairman and Chief Executive Officer, Jeff Feeler.Our legacy US Ecology Environmental Service segment revenue declined 9 during the quarter compared to the second quarter last year, reflecting a 10 decline in Base Business, partially offset by 12 growth in Event Business revenue as shipments remained consistent during the quarter. Base Business declined sequentially through May, rebounding in June as businesses resumed operating activities. Our legacy US Ecology Field and Industrial Services segment saw growth in both small quantity generation and emergency response services; however declines in other services lines more than offset these growth areas leading to an overall 6 decline in revenue compared to the second quarter last year. The legacy NRC business contributed 5.2 million of adjusted EBITDA in the second quarter. NRCs domestic environmental services business saw increased COVID-19 decontamination services, however it was not enough to offset the challenges facing our energy waste disposal services business in Texas, or softness in the FIS business, particularly our Alaska and International businesses. More encouraging was how the US Ecology team responded to rapidly changing events, mitigating the difficult economic conditions through reducing costs and capital spending, while deploying resources for critically needed emergency response services.Revenue for the Environmental Services1 ES segment was 110.4 million for the second quarter of 2020, down 2 from 112.8 million in the second quarter of 2019. NRC contributed 7.3 million to ES segment revenue in the second quarter of 2020. Excluding the NRC contribution, ES segment revenue decreased 9, attributable to a 4 decline in treatment and disposal TD revenue and a 25 decline in transportation revenue compared to the second quarter of 2019.Revenue for the Field and Industrial Services2 FIS segment was 103.5 million for the second quarter of 2020, up 141 from 43.0 million in the second quarter of 2019. FIS segment revenue benefitted from a 63.1 million contribution from NRC in the second quarter of 2020. Excluding NRC, FIS segment revenue decreased 6 in the second quarter of 2020 compared to the second quarter of 2019. This decrease was primarily the result of lower revenue in our transportation and logistics and industrial services businesses, partially offset by increases in our emergency response, and small quantity generation service lines.Gross profit for the second quarter of 2020 was 53.8 million, up 9 from 49.6 million in the same quarter last year. Gross profit for the ES segment was 40.2 million in the second quarter of 2020 and reflected a loss of 2.0 million from NRCs energy disposal and services business. This was down from 43.1 million in the second quarter of 2019. TD gross margin for the ES segment was 39 for the second quarter of 2020. Excluding NRC, TD gross margin for the ES segment was 45 in both the second quarter of 2020 and 2019.Gross profit for the FIS segment in the second quarter of 2020 was 13.6 million and included 9.2 million from NRC. Excluding NRC, FIS segment gross profit declined 32 from the 6.5 million of gross profit in the second quarter of 2019 on lower margins reflecting reduced revenue and a less favorable service mix.Selling, general and administrative SGA expense for the second quarter of 2020 was 48.5 million and included 17.5 million of NRC SGA and 3.0 million in business development and integration expenses. Excluding NRC and business development and integration expenses, SGA expense was 28.0 million for the second quarter of 2020. This compares to 26.0 million in the second quarter of 2019 when excluding a 4.5 million of property insurance recovery and 2.5 million of business development expenses recognized in the second quarter last year. The second quarter of 2020 saw higher insurance costs and higher labor and benefits related costs compared to the second quarter of 2019.Net interest expense for the second quarter of 2020 was 7.7 million, up from 3.4 million in the second quarter of 2019. This increase was due to higher debt levels primarily resulting from the NRC acquisition, partially offset by lower interest rates in the second quarter of 2020 compared to the same quarter in 2019.The Companys consolidated effective income tax rate for the second quarter of 2020 was negative 77.4, compared to 29.2 in the second quarter of 2019. The decrease was due to negative domestic U.S. earnings in the second quarter of 2020, resulting in a domestic income tax benefit offset by income tax expenses on foreign earnings in the second quarter of 2020.Net loss for the second quarter of 2020 was 5.2 million, or 0.17 per diluted share, compared to net income of 15.5 million, or 0.70 per diluted share, in the second quarter of 2019. Adjusted loss per diluted share was 0.08 per diluted share in the second quarter of 2020 and reflects the dilutive effect of the additional shares issued in conjunction with the NRC acquisition on November 1, 2019 and includes approximately 0.14 per diluted share 4.5 million, after tax for non-cash intangible asset amortization related to the NRC acquisition. This compares to adjusted earnings per share of 0.66 in the second quarter of 2019.Cash earnings per diluted share was 0.13 for the second quarter of 2020 compared to 0.75 for the second quarter of 2019.Adjusted EBITDA for the second quarter of 2020 was 38.7 million, up 2 from 37.9 million in the same period last year. Excluding the 5.2 million of adjusted EBITDA contributed by NRC in the second quarter of 2020, legacy US Ecology second quarter adjusted EBITDA declined 12 to 33.5 million as compared with 37.9 million in the same period last year. Adjusted free cash flow was 18.7 million in the second quarter of 2020 up 190 compared to 6.5 million in the second quarter of 2019.Reconciliations of earnings per diluted share to adjusted earnings loss per diluted share, earnings per diluted share to cash earnings per diluted share, net income to adjusted EBITDA and net cash from operating activities to adjusted free cash flow are attached as Exhibit A to this release.YEAR-TO-DATE RESULTSTotal revenue for first six months of 2020 grew 58 to 454.6 million compared to 286.8 million in first six months of 2019. Revenue for first six months of 2020 includes 157.0 million from NRC.ES segment revenue was 237.2 million for first six months of 2020 compared to 205.2 million in first six months of 2019. The increase in ES segment revenue includes 24.1 million of revenue from NRC operations for the first six months of 2020. Excluding NRC operations, ES revenues increased 4 in the first six months of 2020 driven by a 6 increase in treatment and disposal TD revenue, partially offset by a 3 decrease in transportation revenue compared to first six months of 2019.FIS segment revenue was 217.5 million in first six months of 2020, up from 81.7 million in first six months of 2019. The increase in FIS segment revenue includes 132.9 million from the NRC acquisition. Excluding NRC, FIS segment revenue increased 4 in the first six months of 2020 compared to first six months of 2019 driven by higher revenues in our remediation, small quantity generation and emergency response business lines. These increases were partially offset by lower revenue from our transportation and logistics, industrial services and total waste management business lines.Net loss was 303.3 million, or 9.73 per diluted share, in the first six months of 2020 compared to 23.5 million, or 1.06 per diluted share, in the first six months of 2019. The Company recognized a 300.3 million goodwill impairment charge related to its energy waste disposal and international business units in the first quarter of 2020. Adjusted earnings per diluted share was 0.04 for first six months of 2020 compared to 0.88 for first six months of 2019. 