Waste Connections Releases Third-Quarter Earnings

Folsom, Calif.-based Waste Connections reports a net income of $28.3 million on revenues of $273 million for third-quarter 2008, compared to a net income of $28.7 million on revenues of $251 million for the same quarter in 2007.

According to the company, it offset rising fuel costs and a weakening economy with pricing strength and operational improvements. “While that has been the theme for 2008, we now look ahead and are both encouraged by declining fuel costs and extremely pleased with the building blocks now in place for future growth,” said Ronald Mittelstaedt, chairman and CEO of Waste Connections, in a press release. “The LeMay acquisition, our largest single transaction with revenue of approximately $100 million and expected to close in November, will solidly expand our presence in what we believe are the more attractive exclusive markets on the West Coast.”

For the year, the company reports a net income of $77.6 million on revenues of $790 million, which are both increases from a net income of $76.3 million on revenues of $711 million for the same period in 2007.

TAGS: Financials