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Quite A Jump

Waste Connections experiences a 55 percent rise in profits in fourth quarter.

Stephen Ursery

February 1, 2011

1 Min Read
Quite A Jump

Folsom, Calif.-based Waste Connections reported a net income of $36.1 million for fourth-quarter 2010. That’s a jump of 55 percent from the firm’s net income of $23.3 million in fourth-quarter 2009.

The firm brought in more revenue, too. During fourth-quarter 2010, Waste Connections brought in $336 million in revenue, up from $309.9 million during fourth-quarter 2009.

“Increasing disposal volumes, record recycled commodity values, strong core pricing and a stable cost structure drove results above expectations throughout 2010,” said Ron Mittelstaedt, chairman and CEO of Waste Connections, after the firm resulted its fourth-quarter and full-year financial reports in early February.

For all of 2010, Waste Connections reported a net income of $135.1 million on $1.32 billion in revenue. In 2009, the firm posted a net income of $109.8 million on $1.19 billion in revenue.

Waste Connections is projecting that it will bring in $1.38 billion in revenue during 2011 and aims to repurchase up to 5 percent of its outstanding shares, the company announced in its report.

“Our strategic focus on exclusive and secondary markets, unique corporate culture, and discipline in deploying capital have produced a differentiated asset mix within our industry and differentiated financial performance,” Mittelstaedt added.

About the Author(s)

Stephen Ursery

Editor, Waste Age Magazine, Waste360

Stephen Ursery is the editor of Waste Age magazine. During his time as editor, Waste Age has won more than 20 national and regional awards. He has worked for Penton Media since August 1999. Before joining Waste Age as the magazine's managing editor, he was an associate editor for American City & County and for National Real Estate Investor.

Prior to joining Penton, Stephen worked as a reporter for The Marietta Daily Journal and The Fulton County Daily Report, both of which are located in metro Atlanta.

Stephen earned a BA in History from Rhodes College in Memphis, Tenn.

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