Waste Connections and Stericycle experience revenue growth in fourth quarter.

Stephen Ursery, Editor, Waste Age Magazine

February 1, 2010

2 Min Read
Revenue Rising

Folsom, Calif.-based Waste Connections began 2010 with getting some good news about the end of 2010.

During the fourth quarter of last year, the firm took in $309.9 million in revenue and posted a net income of $23.6 million. In the same period in 2008, Waste Connections brought in $259.6 million in revenue and posted a net income of $28.5 million.

During all of 2009, the firm took in $1.2 billion in revenue and made a net income of $109.8 million. Both figures are increases from 2008, when Waste Connections brought in $1.05 billion in revenue and made a net income of $102.9 million.

Waste Connections Chairman and CEO Ronald Mittelstaedt attritubed the jump in fourth-quarter revenue in part to organic growth and some recent acquisitions.

“We believe many of the drivers for further improvement in 2010 are already in place: core pricing, sequentially improving volume growth, higher recycled commodity prices, lower-priced fuel hedges and reduced capital expenditures,” Mittelstaedt said in a press release. “These drivers should produce strong double-digit growth in earnings per share and another record year for free cash flow.”

Lake Forest, Ill.-based Stericycle also reported an increase in fourth quarter revenue. In the last quarter of 2009, the firm, which provides medical waste disposal services, brought in $313.5 million in revenue and posted a net income of $44.6 million. During the same period in 2008, Stericycle brought in $274 million in revenue and posted a net income of $39.1 million.

For the entire year of 2009, Stericycle reported a net income of $175.7 million on $1.18 billion in revenue. In 2008, the firm reported a net income of $148.7 million on $1.08 in revenue.

About the Author(s)

Stephen Ursery

Editor, Waste Age Magazine, Waste360

Stephen Ursery is the editor of Waste Age magazine. During his time as editor, Waste Age has won more than 20 national and regional awards. He has worked for Penton Media since August 1999. Before joining Waste Age as the magazine's managing editor, he was an associate editor for American City & County and for National Real Estate Investor.

Prior to joining Penton, Stephen worked as a reporter for The Marietta Daily Journal and The Fulton County Daily Report, both of which are located in metro Atlanta.

Stephen earned a BA in History from Rhodes College in Memphis, Tenn.

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