Waste Management’s Revenues Rise in Second Quarter

Houston-based Waste Management posted a net income of $246 million on $3.16 billion in revenue during second-quarter 2010. During the same period in 2009, Waste Management posted a net income of $247 million on $2.95 billion in revenue.

“Business conditions continued to improve during the second quarter of 2010,” said David P. Steiner, CEO of Waste Management, in a press release. “Revenue increased seven percent compared with the second quarter of 2009 and volume comparisons continued to show improving trends.”

“Internal revenue growth from volume declined by 2.9 percent in the second quarter of 2010, compared with the prior year period,” Steiner added. “This is the third consecutive quarter in which volume declines have moderated. As we look at volumes for the remainder of 2010, we expect the positive recent trends to continue and for year-over-year volume comparisons to be positive for the second half of 2010.”

For the first six months of 2010, Waste Management reported a net income of $428 million on $6.09 billion in revenue. For the same period in 2009, the firm reported a net income of $402 billion on $5.76 billion in revenue.

TAGS: Financials