Waste Connections Posts Earnings, Revenue Jump for 2013

Allan Gerlat, News Editor

February 11, 2014

1 Min Read
Waste Connections Posts Earnings, Revenue Jump for 2013

Waste Connections Inc. posted increased net earnings and revenue for its fourth quarter and year, fueled in part by stronger solid waste disposal volumes.

For The Woodlands, Texas-based Waste Connections net income for the quarter ended Dec. 31 climbed 37.3 percent to $49.4 million, or 40 cents per diluted share, compared with $36 million, or 29 cents per diluted share, in the year-ago period.

Revenue rose 8.3 percent to $485.9 million from $448.8 million in the 2012 period, according to a news release.

"Continuing strength in solid waste disposal volumes, E&P (exploration and production) waste and roll-off activity enabled us to exceed the upper end of our fourth-quarter outlook and provide a good entry point into 2014,” said Ron Mittelstaedt, chairman and CEO.

For the year, net income increased 23 percent to $195.7 million, or $1.58 per diluted share, compared with $159.1 million, or $1.31 per diluted share, in earlier period. Revenue advanced 16.1 percent to $1.93 billion from $1.66 billion in 2012. 

For 2014, Waste Connections expects earnings before interest, taxes, depreciation and amortization (EBITDA) of between $700 million and $705 million, and revenue between $2.02 billion and $2.04 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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