Republic Services, Inc. reported net income of $180.8 million, or $0.52 per diluted share, for the three months ended June 30, 2016, versus $190.3 million, or $0.54 per diluted share, for the comparable 2015 period.
The U.S. Environmental Protection Agency (EPA) has recognized the Texas Army National Guard as a national winner in the Federal Green Challenge, an event that encourages federal facilities to reduce the government’s environmental impact.
Casella Waste Systems, Inc., a regional solid waste, recycling and resource management services company, reported its financial results for the 3 month period ended June 30, 2016. The company also increased its Adjusted EBITDA guidance and reaffirmed its revenue and free cash flow guidance for the year ending December 31, 2016.
•Revenues were $144.7 million for the quarter, up $1.0 million, or 0.7 percent, from the same period in 2015.
•Net income was $5.2 million for the quarter, an improvement of $4.2 million from the same period in 2015.
•Adjusted EBITDA was $34.8 million for the quarter, an improvement of $4.1 million, or 13.3 percent, from the same period in 2015.
•Overall solid waste pricing for the quarter was up 3.5 percent, mainly driven by strong collection pricing up 4.8 percent.
For the quarter, revenues were $144.7 million, up $1.0 million, or 0.7 percent, from the same period in 2015, with revenue growth mainly driven by robust collection, disposal and recycling commodity pricing, the acquisition of three transfer stations, and higher volumes in the organics line-of-business, partially offset by lower landfill and low margin transportation volumes.
Net income attributable to common stockholders was $5.2 million or $0.12 per diluted common share for the quarter, compared to net income attributable to common stockholders of $1.0 million, or $0.03 per diluted common share for the same period in 2015. The current quarter included a $0.6 million loss on debt extinguishment related to the redemption, repurchase and permanent retirement of $15.5 million of our 7.75 percent Senior Subordinated Notes due 2019, while the same quarter last year included a $0.7 million gain on the divestiture of non-strategic collection routes.
Published in the September 2016 Edition of American Recycler News
Teamsters with the Solid Waste and Recycling Division, and Beth Roach, a community activist from Wayne County, Georgia, attended Republic Services Inc.’s annual shareholders’ meeting in Phoenix, decrying the company’s mismanagement of its landfills and the lack of care and respect for affected communities.
Progressive Waste Solutions Ltd. disclosed that its subsidiary, IESI NY Corporation, recently withdrew a proposal it submitted in response to a request for proposals issued by the City of New York for municipal solid waste management transportation and disposal services.
The National Waste & Recycling Association (NWRA) honored Charles Walton, Founder of Wastequip.