ADS Waste Holdings Inc., which does business as Advanced Disposal, reported a smaller net loss than a year ago on higher revenue for its third quarter.
For the period ended Sept. 30 Ponte Vedra, Fla.-based ADS posted a net loss of $6.5 million compared with a net loss of $32.4 million in the 2013 third quarter, according to a news release.
Revenue increased 6.8 percent to $368.1 million from $344.7 million a year earlier.
For the first nine months ADS’ net loss totaled $41.4 million compared with $81.9 million in the year-ago period. Revenue climbed 6.5 percent to $1.05 billion from $985.5 million in 2013.
“Strong performance across our segments and a disciplined approach to cost drove our highest reported adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) since the acquisition of Veolia ES Solid Waste Inc.,” said Richard Burke, ADS CEO. He said the company got an earnings boost from special waste, roll-off volumes and new municipal contracts.
“We are very pleased with these results and our team is committed to driving efficiencies in our business and creating value for our stakeholders,” he said.