Waste Connections reports third quarter 2011 results

Waste Connections, Inc. announced its results for the third quarter of 2011. Revenue totaled $404.0 million, a 16.8 percent increase over revenue of $345.8 million in the year ago period. Operating income was $89.3 million, or 22.1 percent of revenue, up 18.0 percent over operating income of $75.7 million in the third quarter of 2010. Net income attributable to Waste Connections in the quarter was $46.3 million, or $0.41 per share on a diluted basis of 113.2 million shares. In the year ago period, the Company reported net income attributable to Waste Connections of $41.0 million, or $0.35 per share on a diluted basis of 116.8 million shares.

Non-cash costs for equity-based compensation and amortization of acquisition-related intangibles were $8.1 million ($5.0 million net of taxes, or approximately $0.04 per share) in the quarter compared to $6.5 million ($4.0 million net of taxes, or approximately $0.03 per share) in the year ago period.