Waste Connections, Inc. (NASDAQ:WCN) reported net income above Wall Street’s expectations for the first quarter. Waste Connections, Inc. is an integrated solid waste services Company that provides solid waste collection, transfer, disposal and recycling services in mostly secondary markets in the Western and Southern U.S.
Waste Connections Earnings Cheat Sheet for the First Quarter
Results: Net income for Waste Connections, Inc. rose to $36.5 million (32 cents/share) vs. $27.6 million (23 cents/share) in the same quarter a year earlier. A rise of 32.5% from the year earlier quarter.
Revenue: Rose 7.8% to $331.5 million YoY.
Actual vs. Wall St. Expectations: WCN beat the mean analyst estimate of 30 cents/share. Estimates ranged from 28 cents per share to 31 cents per share.
Quoting Management: “Core pricing, record recycling commodity values and tight cost controls drove continuing strong results in the quarter. We once again exceeded the upper end of our expectations despite severe weather impacting volumes in certain markets during February and significant increases in fuel costs throughout the quarter,” said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer.
Key Stats: The company has now seen net income rise in three-straight quarters. In the fourth quarter of the last fiscal year, net income rose 55.4% and in the third quarter of the last fiscal year, the figure rose 20%.
Competitors to Watch: Waste Management, Inc. (NYSE:WM), Republic Services, Inc. (NYSE:RSG), Casella Waste Systems Inc. (NASDAQ:CWST), WCA Waste Corporation (NASDAQ:WCAA), Perma-Fix Environmental Services, Inc. (NASDAQ:PESI), IESI BFC Ltd (NYSE:BIN), Avalon Holdings Corp. (AMEX:AWX), Industrial Services of America, Inc. (NASDAQ:IDSA), Stericycle, Inc. (NASDAQ:SRCL), and Media Pal Holdings, Corp. (MPHD).
Today’s Performance: Shares of WCN are trading at $29.85 as of April 25, 2011 at 5:08 PM ET, up 0.3% from the previous closing price of $29.77.