Waste Connections Posts Higher Net Income for Quarter

Allan Gerlat, News Editor

October 23, 2012

1 Min Read
Waste Connections Posts Higher Net Income for Quarter

Waste Connections Inc. posted stronger net income and revenue for its third quarter.

The Woodlands, Texas-based waste and recycling firm said in a news release that net income attributable to the company for the quarter ended Sept. 30 rose 6.6 percent to $49.4 million, or 40 cents per diluted share, compared with $46.3 million, or 41 cents per diluted share, in the year ago-period.

Revenue climbed 5.4 percent to $425.7 million in the 2012 quarter compared with $404 million in 2011.

For the first nine months, net income fell 3.3 percent to $123.1 million, or $1.02 per diluted share, compared with $127.3 million, or $1.12 per diluted share, in the year-ago period. Revenue increased 7.7 percent to $1.21 billion compared with $1.13 billion in 2011.

The company said it was pleased with its performance despite general issues such as lower commodity prices. “We believe the strength of our operating performance continues to demonstrate the resiliency of our differentiated strategy," said Ron Mittelstaedt, chairman and CEO. "Although the direction of the economy remains uncertain, we are encouraged both by recent improvements in construction data and increases since early October in recycled commodity prices."

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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