Strong Third Quarter for Allied Waste Industries
Allied Waste Industries, Inc. (NYSE: AW) turned in a stronger than expected third quarter report card. Average price increases of 6.6% along with modest volume growth pushed revenues for the quarter, ended September 30, up to $1.55 billion from $1.48 last year. Even more impressive were gains in profitability as net income rose by 70% to $72 million (or $0.17 per share) from $58 million (or $0.10 per share). John Zillmer, Chairman and CEO noted that "the strong operating results for the quarter were driven by continued momentum from our pricing programs coupled with the tangible benefits from our efficiency and productivity programs."...Read More »
EQ's Apex Plant Lacked Adequate Fire Prevention
Investigators are narrowing in on the cause of the blaze at EQ's warehouse in Apex NC that led to the evacuation of 17,000 residents on the night of October 5. According to the Chemical Safety Board, the fire did not rage out of control until it spread from the area where the company stored waste pool chemicals, cyanide sludge and other material. Evidently, the fire might have been contained had the facility been equipped with firewalls and other fire suppression devices according to the officials with the Board...Read More »
BFI Canada Posts Strong Third Quarter
BFI Canada Income Fund posted solid gains in the third quarter ended September 30. Revenues increased by 9.7% to $200 million from $183 million while net income rose to $11 million (or $0.21 per share) from $6.2 million (or $0.13 per share) in the same period a year ago. Keith Carrigan, vice-chairman and CEO proclaimed that the "Fund set a new performance standard in the third quarter, outpacing our previous quarterly results in all areas."...Read More »
Waste Industries USA's Strategy is Paying Off
Waste Industries USA, Inc. (Nasdaq: WWIN) posted a strong third quarter. Revenues for the quarter which ended September 30, increased by 4.1% to $84.7 million from $81.3 million. On the other hand, operating income skyrocketed by 52% to $11.1 million from $7.3 million pushing net income up by 23.5% to $3.8 million (or $0.27 per share) from $3 million (or $0.22 per share) in the same period a year ago. Jim W. Perry, President and CEO of the Company, noted that the positive performance reflects the company's success in reducing costs by focusing on core services and markets and better utilizing existing assets...Read More »
Gates' Investment Firm Adds Utility to Further Diversify
Cascade Investments LLC, Bill Gates' investment firm, further diversified it's holdings by going into the unregulated energy business through a joint venture with PNM Resources Inc., a New Mexico utility. Of its many positions, Cascade owns $731.3 million worth of the solid waste management company Republic Services Inc...Read More »
WCA Waste Corp. Reports Robust Third Quarter
Industry pioneer Tom Fatjo, Chairman of WCA Waste Corp. (Nasdaq: WCAA), boasts that his company continues to grow in revenues while producing some of the highest profit margins in the industry. Third quarter, ended September 30, revenues jumped 32% to $39.2 million from $29.5 million last year while operating income climbed by 27% to $6.2 million from $4.9 million a year ago. Some unusual expenses related to financing cost write-offs and net losses on interest rate swaps contributed to a net loss of $3.4 million (or -$0.09 per share) from net income of $1.3 million (or $0.09 per share) in the same period last year...Read More »
Synagro's Third Quarter Revenues Up but Profits Down
Synagro Technologies, Inc. (Nasdaq: SYGR) said that revenues for the third quarter, ended September 30, grew by 3.2% to $91.1 million from $88.2 million but that net income for the quarter dropped to $3 million (or $0.04 per share) from $5.1 million (or $0.07 per share) in the same period a year ago. Increased SG&A, interest expenses, and various compensation charges contributed to the decline in net income for the quarter. However, company CEO Robert C. Boucher, Jr. is pleased with improved results from ongoing operations...Read More »
Major Beverage Companies Lack Fizz in Recycling, Report Finds
A new report grades the major beverage companies by recycling performance, and the report cards do not look good. According to the report "Waste and Opportunity: U.S. Beverage Container Recycling Scorecard and Report," which was conducted by As You Sow and the Container Recycling Institute, PepsiCo and Coca-Cola received the highest grades; both get a C. In a scene reminiscent of the movie "Animal House," the rest scored D- or F with Cadbury Schweppes, Cott and National Beverage performing worst. The report notes that while beverage sales jumped five-fold in the last 30 years, container recycling rates have actually dropped from 53% in 1992 to 34% by 2004. An estimated 500 million beverage containers purchased every day in the US, means that the opportunity to save resources and prevent greenhouse gas emissions is huge...Read More »
Gundle/SLT Revenues Up But Not Profits
For Gundle/SLT Environmental, Inc., maker of geosynthetic lining solutions, third quarter revenues are up but profits are down. Company president and CEO Samir T. Badawi blamed global competition and the difficulty of raising prices as quickly as raw material costs have increased. Revenues for the quarter, ended September 30, climbed to $122.8 million from $97.6 million but net income actually decreased slightly to $4.7 million from $4.9 million a year ago...Read More »
Industrial Services of America Reports Third Quarter
Industry hall-of-famer Harry Kletter has turned in his now fourteenth consecutive profitable quarter for his company Industrial Services of America, Inc. (Nasdaq: IDSA). Net income for the third quarter, ended September 30, rose by 35% to $439,568 (or $0.12 per share) from $325,294 (or $0.09 per share) in the third quarter last year. A reduction in the company's overall effective tax rate was a strong contributor, especially since both revenues and EBITDA were down for the quarter from last year...Read More »
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