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Waste Connections Net Income Falls for Quarter, YearWaste Connections Net Income Falls for Quarter, Year

Allan Gerlat

February 21, 2013

1 Min Read
Waste Connections Net Income Falls for Quarter, Year

Waste Connections Inc. reported lower net income for its quarter and year, despite higher revenue for the periods.

The Woodlands, Texas-based Waste Connections said for the final quarter ended Dec. 31 net income fell 5 percent to $36 million, or 29 cents per diluted share, compared with $38 million, or 34 cents per share, in the 2011 period.

Revenue increased 18.2 percent to $448.8 million for the quarter, compared with $379.8 million in 2011, according to a news release.

For the year, net earnings dropped 4 percent to $159.1 million, or $1.31 per diluted share, compared with $165.2 million, or $1.45 per diluted share, in 2011.  Revenue rose 10.4 percent to $1.66 billion compared with $1.51 billion a year earlier.

"Better than expected pricing growth, disposal volumes and recycled commodity values enabled us to exceed the upper end of our fourth-quarter outlook for solid waste,” said Ronald Mittelstaedt, Waste Connections chairman and CEO. "Revenue and margins within E&P (gas exploration and production) waste, however, were hampered by a combination of the sector-wide slowdown in E&P activity during the quarter and incremental start-up costs at new facilities.”

For 2013 the company expects revenue between $1.925 billion and $1.95 billion.




About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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