Houston-based Waste Management reports a net income of $309 million on revenues of $3.4 billion for fourth-quarter 2007. Both figures are increases from a net income of $246 million on revenues of $3.3 billion for the same quarter in 2006.
For the full year 2007, the company reports a net income of $1.2 billion on revenues of $13.3 billion, compared to a net income of $1.1 billion on revenues of $13.4 billion in 2006.
“We ended the year on a strong note and are poised for additional earnings growth in 2008,” said David Steiner, CEO of Waste Management, in a press release. “We grew revenues by 2.4 percent during the fourth quarter due mainly to our disciplined approach to pricing, which led to internal revenue growth on base business from yield of 3.3 percent, and the strength of recycling commodity prices.”