WCA Waste Posts Net Loss in First Quarter

Houston-based WCA Waste Corp. posted a net loss of $1.9 million on revenue of $52.3 million during the first quarter of 2010. For the first three months of 2009, the firm posted a net loss of $490,000 on revenue of $48.2 million.

“Revenue and earnings in the first quarter were substantially impacted by the severe weather in several markets, integration costs and the economy,” said Tom Fatjo, chairman of WCA Waste Corp., in a press release. “However, we experienced a substantial upturn in March which provided 45% of the first quarter EBITDA. According to an industry analyst, weather during January and February of 2010 was unprecedentedly severe. The company has begun to identify and successfully capture new revenue streams. We have been particularly successful in securing special waste disposal volume. We are pursuing other revenue opportunities such as coal ash disposal.”

TAGS: Financials