Progressive Waste Posts Jump in Net Income for First Quarter

Progressive Waste Solutions Ltd. posted a jump in net income and revenue for its first quarter.

The Vaughan, Ontario-based Progressive Waste reported net income for the quarter ended March 31 climbed 33 percent to $29.3 million, or 25 cents per diluted share, compared with $22.1 million, or 19 cents per diluted share, in the 2012 period.

Revenue for the first period rose 11 percent to $486.6 million compared with $438.3 million, according to a news release.

The company said its growth came from tuck-in acquisitions and an improvement in organics revenue.

“Against this backdrop, we remain confident that we are on track to deliver on our outlook for 2013,” said Joseph Quarin, Progressive Waste vice chairman and CEO.