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.