WM’s Net Income, Revenue Fall in Third Quarter

Houston-based Waste Management posted a net income of $277 million on $3.02 billion in revenue during the third quarter of 2009. For the same period in 2008, the firm reported a net income of $310 million on $3.53 billion in revenue.

For the first nine months of 2009, Waste Management posted a net income of $679 million on $8.79 billion in revenue. For the same period in 2008, the firm reported a net income of $869 million on $10.28 billion in revenue.

“Economic conditions and our volumes have stabilized,” said David P. Steiner, CEO of Waste Management, in a press release. “So, as we look to the fourth quarter of this year, we expect the rate of decline in volumes to be slightly better than the rate of decline in the third quarter of 2009.”

TAGS: Financials