Waste Connections Net Income, Revenue Jump in First Quarter

Folsom, Calif.-based Waste Connections posted a net income of $27.5 million on $307.5 in revenue in the first quarter of 2010. During the same period in 2009, the firm posted a net income of $22 million on $262.7 million in revenue.

“We are extremely pleased with our results in the quarter as we once again exceeded the upper end of our expectations,” said Ronald J. Mittelstaedt, chairman and CEO of Waste Connections, in a press release. “Positive organic growth, strong recycled commodity prices, and acquisitions completed since the year-ago period contributed to 20-percent-plus increases in both adjusted operating income before depreciation and amortization and earnings per share. We’re encouraged by improving volume trends throughout the quarter and continue to believe that organic volume growth could turn positive by the third quarter.”

TAGS: Financials