MARCH 2009

Waste Connections reports on fourth quarter

Waste Connections, Inc. announced its results for the fourth quarter 2008. Revenue totaled $259.6 million, a 4.8 percent increase over revenue of $247.7 million in the year ago period. Operating income was $49.3 million versus $49.7 million in 2007. Net income in the quarter was $27.9 million, or $0.34 per share on a diluted basis of 81.0 million shares.

For the year ended December 31, 2008, revenue was $1.05 billion, a 9.5 percent increase over revenue of $958.5 million in the year ago period. Operating income was $212.4 million versus $207.0 million for the same period in 2007.

Net income for the year ended December 31, 2008, was $105.6 million, or $1.48 per share on a diluted basis of 71.4 million shares.

Waste Connections also announced its outlook for 2009 assuming no change in the current economic environment or additional transaction costs.

  • Revenue is estimated to increase 14.5 percent to approximately $1.2 billion.
  • Depreciation and amortization is estimated to be 10.5 percent of revenue.
  • Operating income is estimated to be approximately 20.5 percent of revenue.
  • Capital expenditures are estimated to be approximately $125 million.
  • Diluted shares outstanding are expected to average approximately 81 million.