Waste Connections Post Big Jump in First Quarter Earnings

Waste Connections Inc. posted a big jump in net income for its first quarter.

The Woodlands, Texas-based Waste Connections said for the period ended March 31 net income climbed 32.8 percent to $41.6 million, or 34 cents per diluted share, compared with $31.2 million, or 27 cents per diluted share, in the year-ago period.

Revenue rose 19.5 percent to $449.9 million in the 2013 quarter compared with $376.4 million in the 2012 period, according to a news release.

"2013 is off to a great start as continued strong pricing growth, improving landfill volumes and ramping E&P (exploration and production) activity drove better-than-expected margins and free cash flow in the period,” said Ronald Mittelstaedt, Waste Connections chairman and CEO.