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Waste Management Posts Net Earnings Jump in QuarterWaste Management Posts Net Earnings Jump in Quarter

Allan Gerlat

October 29, 2013

1 Min Read
Waste Management Posts Net Earnings Jump in Quarter

Waste Management Inc. posted a large increase in net earnings for its third quarter, aided by strong solid waste results.

The Houston-based Waste Management said in a news release that for the quarter ended Sept. 30 net income jumped 36 percent to $291 million, or 62 cents per diluted share, compared with $214 million, or 46 cents per diluted share, in the 2012 period.

Revenue rose 5 percent for the third period to $3.62 billion, compared with $3.46 billion a year earlier.

For the first nine months, net profits climbed 19 percent to $703 million, or $1.50 per diluted share, compared with $593 million, or $1.28 per diluted share, in the year-ago period. Revenue advanced 3 percent to $10.5 billion from $10.2 billion in 2012.

The positive performance came despite struggles faced by the company’s recycling and waste-to-energy business. “These strong results were driven by our continued focus on increasing internal revenue growth from yield and controlling costs,” said David Steiner, Waste Management president and CEO.


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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