With six months of 2017 in the books, volume and price trends remain robust.
Waste Management Inc. and Waste Connections Inc. each saw strong year-over-year growth in key metrics across the board during the second quarter, getting the industry’s second quarter earnings season off to a roaring start.
Houston-based Waste Management, the industry’s largest firm, posted revenues of $3.68 billion compared with $3.43 billion for the same 2016 period. Net income for the quarter was $362 million compared with net income of $287 million a year ago.
Meanwhile, Toronto-based Waste Connections posted revenues of $1.18 billion, up from $727.6 million in second quarter of 2016.
Record EBITDA for Waste Management
For Waste Management, EBITDA amounted to $1.03 billion compared to $951 million in the second quarter of 2016. That figure is the highest operating EBITDA posted in the company’s history.