ADS Waste Holdings Inc., the operating company of Advanced Disposal, posted a smaller net loss for the year compared to 2013, on higher revenue and a profit for the fourth quarter.
Net income for the fourth period ended Dec. 31 for the Ponte Vedra, Fla.-based ADS rose to $24.1 million, compared with net loss of $35.9 million a year earlier. Revenue for the fourth quarter climbed 6 percent to $353.7 million from $333.6 million in 2013, according to a news release.
The company said the 2014 results reflected a favorable tax benefit of $51.4 million and a negative impact of losses on fuel derivatives of $27.3 million.
For the year, the waste and recycling firm reported a net loss of $17.1 million, compared with a net loss of $117.8 million a year ago. Revenue for 2014 increased 6.4 percent to $1.4 billion, from $1.32 billion in 2013.
“We continued to build upon our success from the third quarter and maintained that momentum in order to drive an overall increase in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the year,” said Advanced Disposal CEO Richard Burke. “Our disciplined approach to pricing and volume, as well as our focus on driving down selling, general and administrative costs provides us with a strong foundation on which to grow the business for the future.”