The e-scrap recycling division of TerraCycle US tallied better sales and income in 2022, a financial filing shows.
The Trenton, N.J.-based company operates recyclables collection programs for a variety of brand owners and product types, including numerous different plastic packages and products. But the company’s Regulated Waste division is also involved in collections of e-scrap, lamps and bulbs, batteries, organic waste, medical waste and other materials.
In 2022, the Regulated Waste division brought in $5.8 million in net sales, up 2% from the prior year, according to an annual report filed May 1. The segment’s income before taxes was $172,000, which was an improvement from a prior-year loss of $109,000.
The document notes the Regulated Waste segment, which had been particularly harmed by office closures in 2021, improved as a result of a return to a pre-pandemic marketplace, as well as TerraCycle US’s marketing and sales efforts.
TerraCycle markets its EasyPak mail-in recycling program, which collects electronics for recycling or reuse by processor Clean Earth.
Regulated Waste is a relatively small business for TerraCycle US, which makes most of its money through consumer product brand owner-sponsored mail-in recycling programs and the sale of zero waste boxes, through which consumers can ship a type of material to TerraCycle for recycling.
Overall, TerraCycle US tallied $42 million in sales in 2022, up 26% from the prior year. The company’s income before taxes was $3.3 million, down 57% from 2021, however.
In other TerraCycle news, the company in December paid $5.7 million to buy a 130,000-square-foot warehouse space in Aurora, Ill., most of it financed through a 10-year loan from Citibank. The financial filing says the facility “positions us well for future growth and scaling. The facility’s size means we can meaningfully grow without needing to lease additional space or renegotiate contracts with vendors.”
As a result of the purchase, TerraCycle is in the process of winding down its third-party warehouses in Aston, Pa.; Bloomington, Ill.; and Bells, Tenn.
