RediShred Capital Corp. Announces Record Revenue for Q2 2024

Mississauga, ON / ACCESSWIRE / August 28, 2024 - RediShred Capital Corp. revealed its Q2 2024 results, showcasing significant financial growth. The company achieved consolidated revenue of $18.0 million CAD, a 7% increase from Q2 2023. Consolidated EBITDA excluding net recycling revenue reached $2.9 million CAD, growing by 32% year-over-year.

Free cash flow rose dramatically to $3.5 million CAD, primarily due to improved cash from operations and adjusted capital expenditures. The acquisitions of SelectShred, Inc. and Confidential Shredding LLC enhanced the company's operational reach.

Corporate location revenue increased 8%, while EBITDA saw a 3% rise despite lower recycling revenue attributed to declining commodity paper prices. Year-to-date highlights include consolidated revenue hitting $35.1 million CAD, marking a 4% growth.

CEO Jeffrey Hasham expressed satisfaction with the results, noting continued demand and revenue growth. Future plans emphasize expansion and improvements in core operating business areas.