Houston -- Waste Management Inc. shares fell nearly 13 percent Friday after the company said its fourth-quarter revenue would decline from $2.88 billion one year ago to $2.79 billion. The company also said that its fourth-quarter charges would include 1 cent per share to cover losses associated with a paper-commodity swap with Houston-based trading company Enron Corp.
Scottsdale, Ariz. -- Allied Waste Industries Inc. has reaffirmed its earlier guidance that it expects EBITDA of between $1.93 billion and $1.94 billion, with a debt balance under $9.3 billion at Dec. 31, 2001. The company also stands by its projection to have more than $400 million in adjusted free cash-flow at Dec. 31, 2001. Shares of Allied Waste fell 43 cents on Friday.
Folsom, Calif. -- Waste Connections Inc. also has reaffirmed its fourth quarter 2001 and full-year 2002 forecast, saying that there has been no change in business conditions that would warrant selling its shares. The company said on Dec. 18 that it would post revenues of $100 million to $102 million for the fourth quarter, and between $450 million and $455 million for 2002. Waste Connections share also dropped $.141 on Friday.