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Waste Business Journal Weekly News Bulletin: Jul. 31-Aug. 6, 2006

Headlines...

  1. Waste Management Boasts a Strong Second Quarter - Revenues up by 3.7%
  2. Republic Services Reports Improved Second Quarter and Dividend Increase
  3. Waste Connections Reports Second Quarter 2006 Results
  4. Waste Services Reports Second Quarter 2006 Results
  5. North Carolina House Approves 12-Month Landfill Moratorium
  6. Stericycle Reports Improved Second Quarter Results
  7. Covanta to Release 2Q Earnings on August 3, 2006
  8. BFI Canada To Announce Second Quarter Results and Host Conference Call
  9. Gundle/SLT to Announce 2Q Profits on August 11 and Host Conference Call
  10. Study Concludes That Nuclear Recycling Should be Integrated with Long-term Repository

 

  1. Waste Management Boasts a Strong Second Quarter - Revenues up by 3.7%

    Waste Management, Inc. (NYSE: WMI) reported a 3.7% increase in second quarter revenues. Strong pricing overwhelmed a slight drop in volume. However, some non-recurring tax charges reduced net income for the quarter from what otherwise would have been a 19% improvement over the second quarter in 2005. Revenues increased to $3.41 billion from $3.29 billion while net income fell to $417 million ($.76 per share) from $527 million ($.92 per share) in the same period last year. Excluding the unusual expenses, the company would have earned $.45 per share versus $0.38 per share a year ago. The company boasts that this is the fourth consecutive quarter of improved year over year operating margins...Read More »

  2. Republic Services Reports Improved Second Quarter and Dividend Increase

    Republic Services, Inc. (NYSE: RSG) reported that revenues for the second quarter (ended June 30, 2006) increased by 8.5% to $780 million from $719 million, operating income rose to $134 million from $122 million, and net income increased to $71 million ($.52 per share) from $64 million ($.44 per share) in the same period last year. Improved performance was driven by price increases of 4.9% and 3.6% in increased volume. Separately, the Company also plans to increase its quarterly dividend by 14% from $0.14 per share to $0.16 per share...Read More »

  3. Waste Connections Reports Second Quarter 2006 Results

    Waste Connections, Inc. (NYSE: WCN) reported a 14.8% increase in second quarter revenues (ended June 30, 2006) to $207 million from $180 million last year. However, operating income declined slightly to $40.8 million versus $43.6 million and net income declined to $19.2 million ($.41 per share) from $21.8 million ($.45 per share) in the same period last year. Unexpected insurance payouts from prior years were to blame. Revenue increases were driven by pricing and volume improvement...Read More »

  4. Waste Services Reports Second Quarter 2006 Results

    Waste Services, Inc. (Nasdaq: WSIID) reports that second quarter (ended June 30, 2006) revenues increased by 14.3% to $101.6 million from $88.9 million in the same period last year. These results are absent any contribution from the Arizona operations which the company plans to sell to Allied Waste. Increased revenue came primarily from increased pricing and to a lesser extent, improved collection, transfer and landfill volumes. Net loss from continuing operations for the quarter was $11.1 million, or $0.32 per share, versus a loss of $14.2 million, or $0.43 per share, for the comparable period last year...Read More »

  5. North Carolina House Approves 12-Month Landfill Moratorium

    As expected, the North Carolina House of Representatives adopted a year-long moratorium on new landfills. This follows closely upon the Senate's passage of a similar 18-month moratorium earlier in the month. Both bills would halt the permitting processes of several pending landfill projects in Camden, Columbus, Brunswick and Hyde counties, and require the state to more closely examine the environmental and socio-economic impacts of landfills that are expected to receive out-of-state waste...Read More »

  6. Stericycle Reports Improved Second Quarter Results

    Medical waste management company Stericycle, Inc. (Nasdaq: SRCL) reports that revenues for the second quarter (ended June 30, 2006) increased 33% to $198.4 million from $149 million and that gross profit increased by 34% to $87 million from 65 million in the same period last year. An investment write-off made more modest the improvement in net income which increased to $25 million ($.56 per share) versus $23 million ($.51 per share) last year. Recent acquisitions contributed to revenues but also added to debt. Debt to capitalization rose to 45% from 41% in December 2005...Read More »

  7. Covanta to Release 2Q Earnings on August 3, 2006

    Covanta Holding Corporation (NYSE: CVA) plans to release second quarter earnings at the close of the market on August 3, 2006. Management will host a conference call at 11 a.m. (Eastern Time) the following day to discuss those results...Read More »

  8. BFI Canada To Announce Second Quarter Results and Host Conference Call

    BFI Canada Income Fund plans to announce second quarter earnings before the market opens on August 8, 2006. Management will discuss those results via a telephone conference call scheduled for 11 a.m. (Eastern Time) that same day...Read More »

  9. Gundle/SLT to Announce 2Q Profits on August 11 and Host Conference Call

    Gundle/SLT Environmental, Inc. (GSE) plans to announce second quarter and six-month profits on August 10, 2006. Management will host a conference call to discuss the results on the following day at 10 a.m. Eastern Time...Read More »

  10. Study Concludes That Nuclear Recycling Should be Integrated with Long-term Repository

    A Boston Consulting Group (BCG) study concludes that the most economically viable strategy for dealing with nuclear wastes is to combine large scale fuel recycling with a long-term repository such as the one proposed at Yucca Mountain. A large scale recycling effort would quadruple the capacity of Yucca Mountain, provide a hedge against rising fuel costs, and reduce used fuel inventories at reactor sites...Read More »

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