Waste Management Reports Profit, Donates Land

Lynn Schenkman

New York – Waste Management Inc., Houston, has reported third-quarter net income for 2002 of $231 million, or 38 cents per share. Third-quarter net income for 2001 was $30 million or 5 cents per share. The company also has reported 2002 revenue of $2.9 billion, which was the same number in the third quarter one year ago. Financial analyst Michael Hoffman told

Reuters

that Allied Waste Industries Inc., Scottsdale, Ariz., has a leaner business model than Waste Management. Allied’s third-quarter revenue was $1.43 billion.

Waste Management also has donated 47 acres to a York County, Pa., park for additional woodland that will buffer the area surrounding a former mine and provide better public park access.