Subscribe

Renew Subscription
Update Subscription


 

December 2007

Waste Connections reports third quarter earnings up

Waste Connections, Inc. announced its results for the third quarter 2007. Revenue totaled $250.8 million, a 15.8% increase over revenue of $216.5 million in the year ago period. Operating income was $57.1 million, a 20.1% increase over operating income of $47.5 million in the third quarter of 2006. Net income in the quarter was $28.7 million, or $0.41 per share on a diluted basis of 69.9 million shares.

“Strong organic growth and a stable cost environment enabled us to exceed the upper end of our expectations for the quarter. This strength in our existing business combined with the acceleration of acquisition activity in the second half of the year provides building blocks for revenue growth and continuing margin improvement in 2008 and beyond,” said Ronald J. Mittelstaedt, chairman and chief executive officer. “

For the nine months ended September 30, 2007, revenue was $710.8 million, a 15.8% increase over revenue of $613.7 million in the year ago period. Operating income was $157.3 million, a 23.4% increase over operating income of $127.5 million for the same period in 2006. Net income for the nine months ended September 30, 2007, was $76.3 million, or $1.08 per share on a diluted basis of 70.4 million shares.